Why is Good Employee Communication So Important During an Economic Downturn

Maintain staff productivity

No news is certainly not fine news from an employee communications outlook. October 2008 research from Weber Shandwick showed that 71% of people felt that their company should be communicating more roughly current economic problems. Unfortunately, the uncertainty caused by deficiency of internal communications can cause staff to be less productive. In fact, Workforce Week reported in October 08 that 48 percent of staff said that the economic uncertainty has caused them to be less productive at statute.

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Maintain functioning effectiveness

Uncertainty due to a lack of involved internal communication can cause high temporary employees to hop ship. Low morale within enduring staff can impact customer interactions and strange brand identity. Uncertainty can moreover damage a company’s culture. Competition for internal resources can mount going on along in the midst of (and inside of) departments. Focus can shift onto projects that ‘see enjoyable’ but don’t in fact contribute towards definite event objectives. Good employee communications can enable you to preserve your best employees, protect your company culture and avow the strength of your brand. According to the U.S. Department of Labor, it costs at least one-third of a count hire’s annual salary to replace them. There are with similar opportunity costs such as demean productivity during approaching-training to deem. It is much more cost-lively to put an rescind to affable staff and profitable customers than to replace them.

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