One of the biggest threats to your business is something we all do every day, often mindlessly and off the cuff—communicate.
The Economist has partnered with Lucidchart to produce a report on modern workplace communication barriers. The data extracted from more than 400 U.S. executives, managers and junior employees provides insight into:
Here are some of the salient takeaways from The Economist’s research:
Poor communication has a tremendous impact on the workplace. If you think miscommunication is an ancillary issue, think again. According to The Economist, “Respondents say communication barriers are leading to a delay or failure to complete projects (44 percent), low morale (31 percent), missed performance goals (25 percent) and even lost sales (18 percent)—some worth hundreds of thousands of dollars.”
To put it mildly, miscommunication can harm productivity, profitability and engagement.