Listen to this.
“If you invested $100 in 2004 in the companies that have less effective communication programs (bottom 25 percent), your investment would be worth $83 today. If you had invested that same $100 in the companies with moderately effective internal communication (middle 50 percent), it would be worth $116 now. However, if you had invested $100 in the companies with highly effective communication, the value of your investment would have risen to $130.”
Watson Wyatt 2009/2010 Communication ROI Study Report
Translation for you and your job: You really can help your company emerge from economic challenges ahead of the rest (and build some welcome job security at the same time).
January is a good time to start. Develop 2010 objectives for more innovative, more expansive, more involving employee communications.
Whether you are a compensation specialist, benefits specialist, trainer, recruiter or generalist, use the data available from studies like the one above to illustrate to your colleagues that there is a powerful business case for an increased focus on communication effectiveness. Help them understand that advocacy for communications improvements will put HR in a real, measurable leadership position in your company.
Painfully small resources?
Turn everyone’s attention from what HR doesn’t have (i.e. bonuses, competitive pay data, continuing education funds, you name it) to your extensive, stored resources (i.e. easy access to formal and informal conversations with your managers and employees).
There’s a reason why Watson Wyatt calls the report “Capitalizing on Effective Communication: How Courage, Innovation and Discipline Drive Business Results in Challenging Times.” You can’t influence this business environment, but the data shows that you really can influence whether your company comes out a winner.
Courage. Innovation. Discipline. You can be that kind of leader.
Margaret O’Hanlon is founder and principal of re:Think Consulting. She has decades of experience teaming up with clients to ensure great Human Resource ideas deliver valuable business results. Margaret brings deep expertise in total rewards communication to the dialogue at the Café; before founding re:Think Consulting, she was a Principal in Total Rewards Communications with Towers Perrin. Margaret earned her M.S. and Ed.S. in Instructional Technology at Indiana University. Creative writing is one of her outside passions.
Great post Margaret! Thank you for providing us with some great leverage to our employers/clients on the value of communications.
Posted by: Paul Weatherhead | 12/14/2009 at 09:11 AM
Paul,other numbers in the report indicate that companies have reduced communications on business issues, compensation and benefits. No news is good news is the point of view I guess (proven to be misguided), or severely reduced communications staff. But how much does it cost to send talking points to managers?
It seems counterintuitive to limit employee understanding of the business at a time when they could apply it immediately and without hesitation. Not to mention the potential positive influence on the bottom line.
Guess I feel strongly about it, huh?
Posted by: Margaret O'Hanlon | 12/14/2009 at 11:12 AM