Have you ever wondered how much a misunderstanding costs? According to a recent report by UK-based consulting firm Cognisco, misunderstandings and miscommunication among workers are costing companies US$37-billion a year.
Not surprisingly, 99% of the 400 in the survey suffered either a loss of sales or reduced customer satisfaction because of crossed lines of communication or simply an employee's lack of understanding.
Which industry had the highest "cost of misunderstanding"? Banking and finance.
Read the white paper or the press release.
19 June 2008
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