How to Add 18% to Your Personal Income & Your Company's Bottom Line
What if I told you there is ONE skill to invest in that would improve all other areas of your business?
Ok, we all know communication is important, but I learned some staggering statistics last week around the impacts of poor communication in the workplace that I had to share with you!
We all have had experiences with challenging people (maybe someone with a big personality, maybe an ill-equipped manager, maybe folks that have a hard time adapting to change – I mean who doesn’t, change can be hard!). Even now, I bet you’re thinking about a challenging situation with someone that you’ve had recently or in the past… am I right? Personally, I can think of multiple people that I had challenges with at work. Some were managers, some were peers, some were employees. I even have a long-lasting joke with some past colleagues about a manager that was… shall we say “not the best”. I am still triggered when someone speaks to me the way this manager communicated.
All of these experiences contribute to financial communication drain for you and your company!
Companies are losing a staggering amount of money due to poor communication within their organizations and yet many companies that I’ve spoken with see communication as a soft skill, something they don’t want to invest in. That, my friend, is a BIG mistake! HUGE! In the ever-evolving landscape of the corporate world, the one constant that remains essential is effective communication. It is the invisible thread that weaves together the fabric of any successful organization.
Let’s Look at the Numbers:
I was astonished to hear these startling facts that were shared via the 2022 study by Harris Poll for Grammarly regarding the financial impact of poor communication in the workplace. Check it out:
Business leaders report losing an average of 7.47 hours per week due to poor communication. That's almost a full day every week wasted on misunderstandings and miscommunications.
For an employee earning $100,000 per year, poor communication results in a staggering loss of $18,000 annually, which equates to 18% of their salary!
An organization with just 50 employees stands to lose a mind-boggling $625,300 each year due to communication breakdowns.
For larger organizations with 500 employees, this number skyrockets to a jaw-dropping $6.2 MILLION lost!
The Ripple Effect of Communication:
Consider, for a moment, the vast implications of poor communication within your organization. Think about the financial hemorrhage it may be causing. And beyond the dollars and cents, think about the intangible losses—the trust that is eroded, the innovation that is stifled, and the potential that remains untapped.
Here are just some of the negative consequences of poor communication:
Most companies will tackle these impacts with direct training and development focused on the problem itself, but before you go spending $$$ on programs that aren’t addressing the root issue, take a moment to think about how much money your organization is currently losing due to poor or unhealthy communication.
Communication is not merely a "soft skill"; it is the cornerstone upon which a thriving organization is built. It fosters psychological safety (did you catch last month's newsletter on this topic?), drives engagement, increases productivity and alignment, fuels innovation, enhances retention rates, optimizes efficiency, and positively impacts employee wellbeing.
Investing in Communication Development:
The return on investment for communication development is crystal clear. Yet, with countless communication training programs available, how do you choose the right one for your organization? Allow me to recommend a program that has personally transformed my perspective on communication both personally and in the workplace: "The Communication Protocol®."
As someone with over a decade of experience in corporate Learning and Development, I firmly believe that this program should be a prerequisite for all other training and development initiatives within an organization.
The Communication Protocol® is an 8-week online program featuring a comprehensive, proprietary, and proven communication framework along with interactive implementation meetings. These meetings are the linchpin of behavior change, and they can be facilitated in-house using the provided facilitation guides. I loved this program so much when I took it earlier this year that I also became a certified facilitator for the implementation sessions as well, so if you need some support, I’ve got you!
This corporate-ready, done-for-you, transformational program covers all the critical aspects needed in today's workplace:
A framework for initiating interactions, navigating difficult conversations and providing constructive feedback.
Strategies for handling conflicts, creating connections, and building trust.
Self-awareness and well-being techniques.
I wholeheartedly endorse this training for ANY organization. It is a game-changer that will help you recoup your investment by addressing the foundational issue that impacts all other facets of your business—communication.
Remember that without a solid foundation of effective communication, your organization is at risk of falling apart. It's time to invest in the heart of your business. It's time to unlock the potential that lies within your workforce and take your organization to the next level.
Schedule a Free Strategy Session:
I’m currently offering a handful of free 30-minute strategy sessions for leaders. My goal in these sessions is to discuss the issues present in your organization and the potential opportunities for improvement, growth, and support. If you’re interested, book a time with me here.
