Insights & Opinions… from the MAC4 team.

The True Dollar Cost of Waiting to Enhance Your Strategic Internal and External Communications Initiatives

“I’ll get to it later” isn’t always a good approach. Especially if you’re thinking about enhancing your strategic internal and external communication initiatives. Consider that the cost of ineffective internal communication could be as high as $1.2 trillion per year for U.S. businesses, according to a report conducted by the Harris Poll on behalf of Grammarly, and you’ll maybe rethink putting off enhancing your communication.

Organizational communication can do a variety of things—provide information, shape company culture, secure crucial buy in on new business strategies and priorities, your company purpose or mission and simply answer questions—among many other benefits. A good internal communication strategy could also increase employee engagement, which means higher productivity. However, if employees are left in the dark because of poor communication, they may feel undervalued and disengaged, a trend that is happening more frequently based on a recent Gallup poll. If this happens, employees may be more inclined to walk away from their job.

It costs on average $4,000 to hire a new employee. However, according to the Society for Human Resource Management, this total could be much higher because this doesn’t take into account indirect costs such as lost productivity for individuals, including executives and managers, when they step away from their job to interview a potential new hire.

With an effective communication strategy in place, you’re ensuring more than disengaged, under productive employees, you may be saving your company’s bottom line as well. If you’re struggling and need help figuring out the best communication strategy—whether it’s change communication, internal or external communications, or any other organizational communication—consider calling in an expert for assistance. Wondering where to start? A communications audit can help you figure out critical information about your communication strategy, such as what may or may not be working or where you can improve.


Author: Jennifer Bohmueller


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