Poor communication could be shrinking your paycheck and cost a single company over $60 million annually. Small companies aren’t immune to poor communication woes, either. Communication blunders cost $420,000 per year in companies with 100 employees or fewer. Big or small, poor communication costs companies money. This loss of revenue can certainly impact employee salaries and bonuses.

Did you know that 71% of employees say they’re more productive when they feel connected to their colleagues through communication? This shows the importance of effective communication in the workplace. No doubt, the communication techniques used in a work environment affect employee performance and collaboration efforts. Top-down communication is a common form of communication in the workplace and has both positive and negative impacts on collaboration efforts and employee engagement.

In the 1944 film Gaslight, Ingrid Bergman plays a woman who is manipulated by her husband to the point where she questions her own memory and even sanity. FYI, Ingrid Bergman won an Oscar and a Golden Globe for that film. This phenomenon is not limited to fiction, nor is it confined to relationships. Gaslighting can happen in workplaces as well. Someone could be casting a manipulative web around you without your knowledge. You need to act wise and fast.

Sometimes you work all day long, managing to do a lot of things, spinning like a squirrel in a wheel, but the result is only fatigue with no satisfaction. It is unclear how all this work heroism has brought you closer to your goal. In time management, it is called the problem of goal-setting, and its consequences can be the most devastating. Life turns into a grueling marathon with rare breaks and incomprehensible results.

Creating an environment that encourages collaboration is key to a successful company culture, but it’s also important to have a good balance of power on your team. You don’t want one person to feel like they’re being treated unfairly by the rest of the staff—but if everyone feels like they’re equal stakeholders, you’ll find yourself with a cohesive team that works together seamlessly. The best way to achieve this is through dialogue.

Did you know that only 49% of leaders are sure they can plan for the next leader in a clear and consistent way? Not that I blame them – making succession plans can be a task. That’s why knowledge of succession planning is absolutely necessary. Every forward-looking business owner wants to see their businesses continue to thrive long after their active years. Who doesn’t? They also don’t want their business to collapse due to the sudden exit of a crucial team member.

Our environment has an impact on us mentally and physically. We can also say that this has major implications for our productive and creative days. The majority of us may work in environments that might sacrifice comfort, function, and livability — but without these aspects, it’s difficult to focus and invest your energy. The more comfortable and positive the surrounding vibe is, the more creative and efficient you will be.

You may express thanks at a daily standup or tag a thank you at the end of a work-related message, but sending an appreciation email to an individual employee to personally thank them can bring a smile to their face, and also benefit the business. A simple way or gesture of saying “we appreciate you” can boost the morale of your employees to a great extent. But it’s not only about saying the words, it’s about using the right tools to get your message across.

There are around 270 million Microsoft Teams users in the world. However, the tool is only compatible with Microsoft 365 subscriptions. So, companies that aren’t using Microsoft’s ecosystem would need a different team communication tool. What’s more, Microsoft Teams has a free edition but lacks key features like task manager, cloud recording storage functionality, flexibility in a monthly subscription, etc.

Technological advancement is growing exponentially. Every day, there is something new that helps businesses reach their potential, and opens up many new opportunities for them. Innovative solutions play a positive role in creating new jobs and motivate employees to develop their skills. It’s no secret that improving skills and developing them helps professionals move up the career ladder. Sharpened skills add value to employees and make them desirable candidates for positions.