Communication and High-Performance Companies

Management-Issues reports on a recent study by the consulting firm Watson Wyatt in which they identified six communication practices that distinguish the top performers from the also-rans.

Mostly common sense perhaps, but companies with the most effective communication programs reported a massive 47 percent higher total return to shareholders from 2002 to 2006, compared with companies that communicated less effectively.

The six communication practices of high-performing companies identified by the research were:

1. Focusing managers and employees on customer needs
2. Engaging employees in running the business
3. Helping managers to communicate effectively
4. Leveraging the talents of internal communicators to manage change more effectively
5. Measuring the impact of employee communication
6. Branding the employee experience

BOTTOMLINE: Top-performing companies treat communication as a key business driver. Companies that communicate effectively with employees have an engaged workforce and superior financial results.