Communication is the cornerstone of an engaged workforce. Effective communication can increase employee engagement, boost workplace productivity, and drive business growth.
Crystal-clear communication positively affects employees in terms of:
- Retention, and
But the numbers show that there is a problem in communication.
According to the State of Business Communication 2023 report, business leaders have noted 3 consequences of poor communication at work:
- 43% of them claim that poor communication decreases productivity,
- 42% of the surveyed leaders claimed that missed deadlines and extended timelines are the worst consequences of miscommunication
- 38% of business leaders have noticed the financial impact of poor communication
Project.Co’s Communication Statistics 2023 report highlighted that the costs of poor business communication include:
- Wasted time (according to 68% of survey respondents),
- Missed messages (53%),
- Burnout, stress, and fatigue (42%),
- Lost files (35%),
- Bad customer experience (30%),
- Lost customers to competitors (12%), and
- Lost employees (10%)
Effective communication not only promotes collaboration but also makes management easier by reducing information silos. Communication and engagement go hand in hand when it comes to empowering employees with adequate means to perform their job roles efficiently.
While companies are probably aware of the need for excellent communication, many don’t truly understand the need to keep their employees engaged and focused or simply don’t care enough.
Companies with effective programs for communication and support are 3.5 times more likely to beat out their rivals, while well-informed employees outperformed their peers by 77%.
Better communication results in greater employee engagement, which is a key metric for employee productivity and potential retention. It reinforces that your people are key contributors and people who the company values for their unique skills and experience.