Companies with highly effective internal communication strategies are 3.5 times more likely to outperform their peers significantly, according to a new Change & Communication study by Towers Watson.
The 2013-2014 study that surveyed 651 organisations from across a broad range of industry sectors found that the most successful organisations actively built an effective communication culture to support and drive behaviours that align with their business strategies.
Over the last decade, Towers Watson studied the pivotal relationship between superior financial performance and effective communication. The 2013-2014 Communication ROI Study examines how communication effectiveness has evolved, and it reveals that the bottom line is greatly enhanced when supported by excellent internal communication strategies and channels.Key findings
The new landmark study releases the following key findings on the relationship between excellent financial performance and effective communication. Towers Watson has explored what highly successful organisations do differently to their peers.
Here are the stats: Companies with highly effective internal communication strategies are 3.5 times more likely to outperform their industry peers significantly than organisations that do not communicate effectively internally.
98% of highly successful organisations state that they understand what key messages resonate with their top-performing employees. Only 42% of less successful organisations could claim the same.
93% of highly effective and successful organisations state that they have a clear understanding of what messages resonate with new employees, whereas only 48% of less effective organisations could say the same.
The most effective and successful organisations are three times more likely to focus on behaviours that drive organisation success, instead of being preoccupied with the programme cost.
Effectively trained and informed managers are a resource that can create a communication culture and drive the necessary behaviours that are needed to develop a competitive advantage.
What the Towers Watson research study clarifies is that in order to be a highly effective and successful organisation, it is crucial that an organisation first learns to communicate effectively. Communication leads to greater understanding and understanding enables management to create strategies to drive behaviour and achieve necessary targets. This is the vital business cycle that is needed to generate success.
The question you now need to ask yourself is: What communication culture and strategy have I created to drive staff behaviour and align staff to our business strategy and goals?
Download the 2013-2014 Change and Communication ROI Study