Founder and Executive Vice Chair of Poise Nigeria Limited, Mavi Isibor, said the cost of poor communication is enormous and can lead to substantial losses by business.

Quoting a recent report from Harvard Business Review Business Communication Statistics, she noted that companies with over 100,000 employees lose $64.4 million yearly to miscommunication, while smaller companies with about 100 employees lose up to $450, 000.

Citing the report, she said trust and credibility are also lost, with one in five business leaders claiming to have experienced heavy losses due to miscommunication.

“Also, 68 per cent of business leaders who lost deals to miscommunication said it caused them $10, 000 or more each time they have had a miscommunication error,” he said.

Speaking at the formal launch of the Aptis English proficiency test in Lagos by the British Council and Poise Nigeria, Isibor said the flexible and reliable English assessment is tailored to improve business communication skills, and workplace communication, boost employee confidence and improve business performance.
https://guardian.ng/business-services/business/businesses-lose-64-4million-yearly-to-poor-communication/