Business communication impacts every aspect of the business/organisation and refers to how employees share information with each other, and with customers, partners, and more. This includes the following:
1. When team members interact with one another or with management
2. When employees interact with customers or clients
3. When a company makes new releases or launches a marketing campaign to the public
4. Assigning tasks to employees, receiving and responding to customer feedback, and publishing a press release are all examples of business communication.
The importance of effective communication at work
Without communication, your company cannot function. But whether or not your business communication is effective is the true differentiator between success and failure.
Business communication contributes to team success in several ways:
Increasing productivity by preventing costly mistakes, 86% of which are attributed to misunderstandings. Encouraging a healthy company culture and improving employee engagement and performance by up to 10%.
Improving brand reputation by building positive, meaningful relationships with employees as well as customers, 60% of whom consider trust a significant factor in their loyalty to a brand.
Reducing employee turnover by up to 50% and customer and client churn by up to 70%.
So what makes business communication effective? To conclude, here are five key determining factors:
1 Clarity ensures your message is understood.
2 Conciseness helps streamline communication and improves efficiency.
3 Propriety promotes mutual respect and harmony
4 Credibility builds trust and positions your brand as reliable and authoritative.
5 Engagement motivates your audience to respond to your message as desired.
These elements are essential across all types and methods of communication, regardless of the industry you operate in or your company’s specific role within it.