$37 billion dollars are estimated to be lost due to miscommunication, according to a recent study. However, companies with “highly effective” communicators had 47% higher returns. The reason: simply put, when employees understand what was said and what is expected of them, they are able to do their work more efficiently.
So what can you do as a leader? David Grossmann suggests in this article that a leader should understand how they communicate currently, what they can do to make that communication better, and then strive to improve. This can be accomplished by asking coworkers about how well you communicate and if they ever find themselves confused at the directions you give. If they do, you’ve got more work to accomplish in your ability to communicate effectively.