As mentioned above, a more efficient workplace
is one of the greatest benefits of good management communication. Better
communication with your employees encourages a free flow of information through
all different departments, allowing for more communication between managers and
employees. This is crucial,
as
research suggests miscommunication costs smaller
companies an average of $420,000 a year, while this figure inflates to $62.4
million with businesses employing over 100,000 people or more.