FACTS
- Workplace communication affects many various aspects of the business. However, increased employee productivity is the most common reason why Chief Communication Officers and other communications professionals are investing in internal communications more than ever before.
- Poor workplace communication has a negative effect on business performance and profitability. In other words, the cost of poor internal communication is extremely high.
- Informed employees are much more likely to build better connections with customers and work harder to improve customer experience.
- One of the biggest changes we may see in the near future is the adoption of new internal communication tools by most companies. That’s because emails, Intranets, and even video conferencing tools won’t be enough to keep businesses running smoothly.
- As remote work is here to say, there’s no doubt HR and IC teams will develop new processes to support employees in their daily work and protect their mental health and wellbeing with effective workplace communication.
STATS
- 57% of employees report not being given clear directions and 69% of managers are not comfortable communicating with the employees in general.
- On average, employees are 20 to 25% more productive in organizations with effective internal communication in comparison with companies where employees are not connected.
- A survey of 400 companies with 100,000 employees cited an average loss per company of $62.4 million per year because of inadequate communication to and between employees.
- Moreover, according to a report by global risk-management and advisory company Willis Tower Watson, companies with effective communication practices generate 47% higher total returns to shareholders compared to organizations with poor communication.
- Customer retention rates are 18% higher when you have well-informed and highly engaged employees. This is why many organizations now agree that employee experience is the new customer experience.