Good Communication Drives Superior Financial Performance Essay

According to Watson Wyatts 2009-2010 Communication ROI Study, businesses that communicate with courage, cosmos and discipline, particularly in tough economic quantify, are more happy at engaging employees and achieving desired business results. Effective internal parley can keep employees engaged in the business and help companies reserve key talent, provide consistent value to customers, and deliver superior monetary performance to shareholders, said the study, which included 328 organizations across the world.Watson Wyatts newest communications study, exchangeable its other ones, found that businesses that communicate effectively with their employees are also the whirligig financial performers. A key finding of the study was that companies that are extremely effective communicators had 47 percent higher total return to shareholders everywhere the last five years, compared to firms that are the least-effective communicators. According to the study, the best companies inves t in helping leaders and managers communicate with their employees.While the study points out that scarcely three 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 bailiwick developed by Accountemps, a Robert Half Company, points out another reason why favorable communication equals good business. The survey found that better and more rat 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 gloomy morale. According to the survey, the absence of open and honest communication with staff stand out the list of management misstep s that can wear down employee morale.