Why business communication is critical to your company’s success and tips to improve them
Description
For organizations, effective business communication is critical for their employees to perform their duties and responsibilities efficiently. Free and uninterrupted business communication in a company has a positive impact on the overall business, like reduced stress, lower employee turnover, increased productivity, higher customer retention, consistent deliveries of projects on time and improved work-life balance. According to a Watson Wyatt study, companies that foster effective communication report 50% lower turnover than the industry average.
On the other hand, poor communication can impact your workplace adversely. It has been estimated that communication barriers cost an average organization $62.4 million per year in lost productivity. Ineffective communication results in low morale, high stress, absenteeism and employee turnover.
It has been shown that companies with connected employees are 25% more productive. To improve communication and be more productive, companies must have the right processes and tools in place. Companies that invest in the right online tools improve their productivity by 47%.
United States
