With an alarming statistic revealing that a staggering 70% of errors in the workplace can be traced back to miscommunication, it’s no wonder that businesses are feeling the pinch. Dive deeper, and you’ll find that poor communication ranks as the number one concern for a majority of businesses, overshadowing even financial concerns or market competition.
But what really happens when communication goes awry? Trust erodes. The very foundation upon which business relationships are built begins to wobble. Employees start second-guessing, leading to serious doubts about the motives, integrity, and capabilities of their employers. The domino effect of this breakdown? A jaw-dropping cost of £50 – £70 Bn in lost productivity annually.
But there’s more. As a result of these communicative missteps, 33% of employees report having low morale, feeling disengaged, and disheartened.
In this episode, Ricky and Rob not only highlight the challenges but also explore solutions and best practices to cultivate an environment of open, transparent, and effective communication.