How Billions of Dollars Are Lost Each Year Due to Miscommunication

Available for Interviews:  Dr. Kelly Waltman

Kelly Waltman, PhD, is the Founder and CEO of SLR Leadership Consultion, LLC. She is also the author of Elevate Connection: Cutivate and Engaged, Inspired, Productive and Profitable Team Culture.

What Dr. Kelly Waltman can say in an interview
on Miscommunication
:

    • Research has demonstrated that the average cost of employee turnover ranges anywhere from a modest estimate of $15,000 per employee to $35,000 per employee—with the cost of turnover increasing as the employee’s job level and salary increase.

    • The cost of a high turnover rate goes beyond the tangible costs of recruiting, hiring, and training new employees—the overall performance of your team suffers as well. 
    • It’s not just the loss from high turnover that impacts the bottom line. According to a study published by Cognisco, poor communication, and the resulting employee misunderstanding, cost UK and US businesses $37 billion per year. 
    • Research has shown that communication, or lack thereof, is a common driving factor in voluntary resignations. When employees feel included and engaged, however, they are more likely to stay. 
    • Just as we can calculate the cost of poor communication, research has shown the profitability of effective communication. In a report published by Towers Watson, companies described as “highly effective communicators” had nearly 50% higher total returns than companies described as “least effective communicators.”
    • One of the best ways to improve team communication is by cultivating a feedback culture, where everyone feels genuinely comfortable both giving and receiving feedback. And truly effective feedback is a two-way street. Leaders should be giving feedback to the team, and receiving feedback from individual team members and the team as a collective. Further, peers should be comfortable giving and receiving feedback to one another.

 

Interview: Dr. Kelly Waltman

Kelly Waltman, PhD, is the Founder and CEO of SLR Leadership Consultion, LLC. She is also the author of Elevate Connection: Cutivate and Engaged, Inspired, Productive and Profitable Team Culture. Located in Harrisburg, Pennsylvania, SLR Leadership Consulting offers individual- and team-based coaching and professional development services with an emphasis on workplace culture, communication, and getting comfortable with feedback. 

With over twenty years of experience developing and delivering curricula, Dr. Waltman has a passion for helping individuals learn and grow. From the classroom to the boardroom, she has designed content for groups of all sizes. She also brings over a decade of managerial and leadership experience to her work—holding director-level positions with previous employers, and serving as a board member for local non-profit organizations.

In addition to her work with SLR Leadership Consulting,  Dr. Waltman founded She Leads and Reads, a monthly book club and content curation site focused on personal and professional development books.

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Jo Allison
Managing Editor
Director of Public Relations
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