Communication is the fire that fuels the workplace engine. It is difficult to overstate just how important communication can be to a successful organization.
Case-in-point: A recent survey of 400 companies conducted by the Society of Human Resource Management (SHRM) revealed that, on average, each company lost $62.4 million per year due to inadequate communication.
“In an era when Artificial Intelligence and other digital technologies are changing the way organizations operate, communication skills will become even more vital to strengthening relationships and promoting collaboration and adaptability,” says Carl Zangerl, faculty director for the communication and human resource management programs within Northeastern’s College of Professional Studies.
Companies in the U.S. spent nearly $200 billion on marketing in 2019, putting immense resources towards developing strategies to communicate with potential customers and crafting and distributing the perfect messages. Few spend the same resources on considering how to best communicate with their employees—and it’s costing them.
About 70 percent of employees in the U.S. feel disengaged at work, and fewer than 30 percent believe in the brand that employs them, according to Gallup. This leads people to quit and seek out more fulfilling work, and Glassdoor reports that companies spend an average of $4,000 on recruiting, hiring, and onboarding each replacement. By helping employees feel more connected to their companies through thoughtful internal communication, organizations can create an open, collaborative culture that drives both retention and productivity.
Want to refresh your knowledge about key communication concepts, or sample some lectures and readings in a new subject area? The Office of Alumni Relations, in partnership with Northeastern University’s Graduate Programs, makes it easy. Just click here to access an archive of on-demand programs.