Good Communication Drives Superior Financial Performance Essay

According to Watson Wyatts 2009-2010 Communication ROI Study, businesses that communicate with courage, innovation and discipline, particularly in tough economic times, are more successful at engaging employees and achieving desired business results. Effective intragroup communication female genitalia keep employees engaged in the business and help companies retain key talent, support consistent value to customers, and deliver superior pecuniary performance to shareholders, said the study, which included 328 organizations across the world.Watson Wyatts newest communications study, like its other ones, found that businesses that communicate effectively with their employees are also the top financial performers. A key finding of the study was that companies that are highly effective communicators had 47 percent higher(prenominal) total return to shareholders over the last five years, compared to firms that are the least-effective communicators. According to the study, the best com panies invest in helping leaders and managers communicate with their employees.While the study points out that only 3 out of 10 organizations are training managers to deal openly with resistance to change, highly effective communicators are more than three times as likely to do this compared to the least-effective communicators. A survey developed by Accountemps, a Robert one-half Company, points out another reason why good communication equals good business. The survey found that meliorate and more frequent communication with staff members is perhaps the best way to raise employee morale.The survey was conducted by an independent research firm in 2008 and is based on interviews with 150 senior executives from the nations 1,000 largest companies. Nearly half of executives who participated in the survey said better communication is the best remedy for natural depression morale. According to the survey, the absence of open and honest communication with staff tops the list of manage ment missteps that can wear down employee morale.