Effective Communication

Why Communication Matters
Effective communication is a critical component
of organizational success. It is used to exchange information, persuade others to accept our message, solve problems and, even, entertain. Yet, not every organization or their leaders do it well. To become an effective communicator, you need to have the desire, understand the communication process, master basic skills and practice.

“The most important thing in communication is to hear what is not being said.” – Peter F. Drucker

According to The Holmes Report, the cost of poor communication is substantial. It cites the following:

• The total estimated cost of employee misunderstanding (including actions or
  errors of omission by employees who have misunderstood or were misinformed about company policies, business processes, job function or a combination of the three) in 100,000-employee companies, among 400 surveyed corporations in the United States and United Kingdom, is $37 billion
• The average annual cost per company is $62.4 million
• Cumulative annual cost per worker due to productivity losses resulting from communications barriers is $26,041