Quantifying the Real Value of Better Communication

Perfectly worded emails? Who has time to write them. Monthly newsletters? Mostly contain old news by the time they’re sent around. Random posts on the company intranet? No one reads them.

Down with stale tools and technology - we need to improve the way we communicate at work.

In order to do so, people need tools at work that reflect the simplicity and ease of the tools they use outside of work to connect with one another. With all the familiar features of Facebook, such as chat, groups, live video and the News Feed, Workplace by Facebook is that tool.

Team members can trade ideas or get approval in an instant on Workplace Chat. A CEO can give input on an idea shared in the News Feed by a junior staff member. Employees working on shop floors can share customer feedback and insight directly with teams in head office via a shared group. By allowing people to communicate more efficiently, Workplace removes the distance between people and teams.

At this point if you’re wondering what the actual monetary value of better communication in the workplace looks like, look no further.

Global research firm Forrester Consulting recently conducted a study into the Total Economic Impact of Workplace by Facebook. The study involved over 200 companies that have used Workplace for a number of years. And the results speak volumes. 

With Workplace, companies experience:

34% reduction in time taken for frontline workers to get updates
25%
reduction in leadership communication costs
10%
increase in revenue per customer

There are no two ways about it - better communication is better for the bottom line. These are just a handful of the tangible benefits companies all around the world experience when their people and teams communicate better with Workplace. Other notable impacts reported in the study include a 3.9 x return on investment in Workplace over a 3 year period and $13.1 million in quantified benefits over 3 years.

The need for better two-way conversations that cut through traditional top-down communication is part of a larger discussion around how companies can prioritise employee engagement and inclusion. In the US, employees who feel that their voice is heard are 4.6 x more likely to feel empowered to perform their best work, as reported by Forbes. What’s more, Gallup reports that the behaviours of teams that are highly engaged show 21% greater profitability.

Employers - underestimate the danger of disconnected, disengaged employees at your own peril. A study conducted by The Engagement Institute showed that in the US, disengaged employees cost companies between $450 and $550 billion a year. Ouch.

To learn about what smarter communication and better employee engagement could look like at your company, check out Enablo’s wrap up of the latest Workplace features. Or drop us a line to find out more about how a customised Enablo Blueprint Sprint can set you up for long-term success with Workplace. Or if nothing else, liberate you from those monthly newsletters and random posts on the company intranet.