How Effective Communication Skills Improve Bottom Line Results
The following is an excerpt from our RIO of Soft Skills White Paper. If you want to read the entire paper, complete this form and click “submit” for an immediate download.
Communication can be simply deﬁned as, “The act or process of using words, sounds, signs, or behaviors to express or exchange information or to express your ideas, thoughts, feelings, etc., to someone else.”
Data indicates employees spend 80% of their time communicating – that explains why organizations around the country are allocating funds to teach their staff how to communicate more effectively.
Harnessing the power of communication is the key to the success of any organization, from office interactions to increasing revenue.
Companies that are thriving in today’s economy all have one thing in common: productive, motivated and excellent employees. The people within an organization make organizations unique. The knowledge and skill of employees are their biggest and most valuable assets. So yield the highest return on investment (ROI)—if that investment goes into something that maximizes an employee’s potential.
Each organization will need to sort out what the appropriate level of spending on staff might be, but according to the US Department of Labor, organizations usually measure their payroll as a percentage of gross revenue. In service industries, the ratio might be as high as 50%. Manufacturing organizations usually have lower ratios (30% or so) due to the capital investments common to manufacturing.