18th Feb 2020
This question; ‘what is the true cost of poor communication in your workplace?’ is for business owners, CEOs, COOs, GMs. Do you know the answers? Have you worked it out for your business?
Just in case you haven’t, here’s some stats for you –
Research by US firm Gartner shows a staggering 70 per cent of mistakes in business are due to poor communication. It's no surprise poor communication can lead to increased stress, poor decision-making, business losses and legal disputes. US businesses are not alone in this as closer to home;
1.5% of an average employee salary is the cost of turnover because of gossip and bullying – another aspect of poor communication.
$600 per employee per annum for sick or stress leave. May not seem much but how many employees do you have?
$12 million in personal grievances. PGs tend to arise when issues have been ignored and have escalated into problems into legal action. This estimate from the Employers and Manufacturers Association. The association said Employment Relations Authority (ERA) determinations across all types of personal grievance, ranging from redundancy to poor performance, increased in value by 17.3 per cent last year compared with 2002. injury to reputation and injury to feelings in a high court can result in a six figure pay out.
Issues with poor communication can be especially evident in workplaces with a high number of diverse languages spoken, but it certainly isn’t exclusive to those organisations.
Queenstown Chamber of Commerce Building Blocks Workshop
Tuesday 25th February, 10.30am -12pm.
Here is the link to book your spot -
Effective Communication in Culturally Diverse Workplaces.
The what and the how to achieve open and honest communication to avoid issues escalating into problems, which are costly, will be covered.