According to a survey conducted by business outlook, on the subject of communication practises in Fortune 1000 companies, it was revealed that an average employee in these organisations has around 1800 points of contact per day. These can be in different forms, for instance, face-to-face meetings, emails, video conferences and general work-related communication amongst colleagues. Professionals send out and receive deluges of information as they navigate through their workdays. In addition, it was discovered that professionals spend 75% of their workday communicating the essentials of business amongst each other.
Now, with such results on hand, it expunges out any apprehension regarding the importance of business communication in organisations. However, in the business world, numbers matter.
In order to quantify the importance of business communication, Society for Human Resource Management (SHRM) conducted a comprehensive review to find the scope of any revenue impact that bad communication might have on businesses. They revealed that an average business experiences a loss of £350,000 every year due to poor communication processes.
Moreover, in another survey conducted on 400 big organisations revealed that they lose an average of £55 million every year due to communication bottlenecks. Therefore, better and clearer communication does hold significant importance in the corporate world. As minuscule it may seem, however, given the results, C-suite executives and regional and departmental leaders should pay more attention towards this persisting issue.
As noted by SHRM, organisations can avert these huge losses, just by making small but incremental changes in the way their workforce communicates with each other. It is a matter of fact that interpersonal skills are taken for granted in many work-related industries as goods and services acquire the prime focus. There is a big void for organisations to fill when it comes to communication, and it is something which needs to placed front and centre.
