In the last blog post, I Just Can’t Take The Risk, tiptoed around the edges but stopped just short of defining what that perceived risk was… With limited time right now, I’ll touch on the perceived risk quickly and toss out a few other risks that many managers or business owners may not recognize until it’s too late.
Don’t worry though, I won’t drop the ball on you! I’ll circle back with the next few posts to cover some things we can each do to effectively handle each of the risks we look at now.
The risk I’ve seen so many supervisors, managers, and business owners work so hard to avoid is the potential for losing a long term, highly skilled team member to the competition after addressing an issue with them. In many of those situations, that person is truly a master of their craft. But from time to time, even the best in the business get lackadaisical… But there are also times where a senior team member can begin to...
As I wrapped up the last blog, I referenced a study that showed how many organizations lose as much as 17 hours per week to miscommunication. Unlike the Salesforce.com study, I couldn’t put my find on any of the additional details that study covered or who conducted it. That said, I found it! We typically share these statistics during the second lesson of our Emerging Leader Development course, Critical Principles for Effective Communication… Here you go:
According to an SIS International Research study, the cumulative cost per year due to productivity losses resulting from communication barriers is more than $26,000 per employee. Not only that, the study found that a business with 100 employees spends an average downtime of 17 hours a week clarifying communications. Translated into dollars, that’s more than $530,000 a year.
I go on to detail out that math for companies half that size and twice that size, just so participants have a chance to relate it to the...
A monthly newsletter keeping you up to date on resources that will help catapult your personal & professional growth process!
Around the first of each month, you'll receive our complimentary Intentional Action For Ongoing Growth newsletter that's packed full of information you can build into your growth journey!
And get access to our lesson called 3 Keys to an Effective Leadership Transition just for signing up!