Good Communication Drives Superior Financial Performance Essay Example for Free

Good conversation Drives Superior Financial Performance EssayAccording to Watson Wyatts 2009-2010 Communication ROI Study, pipelinees that communicate with courage, innovation and discipline, in particular in tough economic times, be more successful at engaging employees and achieving desired business results. Effective internal communication can keep employees engaged in the business and help companies restrain key talent, provide consistent value to customers, and deliver superior financial performance to shareholders, said the study, which include 328 organizations across the world.Watson Wyatts newest communications study, like its other ones, found that businesses that communicate effectively with their employees are too the top financial performers. A key finding of the study was that companies that are highly effective communicators had 47 percent higher total return to shareholders over the last five years, compared to firms that are the least-effective communicato rs. According to the study, the take up companies invest in helping leaders and managers communicate with their employees.While the study points out that only tercet 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 go off developed by Accountemps, a Robert Half Company, points out another reason why good communication equals good business. The survey found that better and more frequent communication with staff members is perhaps the outdo way to retch employee morale.The survey was conducted by an independent research firm in 2008 and is based on interviews with 150 older 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 low morale. According to the survey, the absence of open and honest communication with staff tops the angle of inclination of management missteps that can wear down employee morale.