There is only one real common thread that sets apart the good companies from the bad in today’s challenging work environment. Effective communication. People are often overwhelmed with the amount of work it takes to initiate authentic communication in the office due to ancillary stress placed on the work versus the people, but really successful companies today are those that recognize effective communication as a direct correlation with raising bottom line. A compelling marketing or sales strategy are only as powerful as the people who develop it, so encouraging productive communication among employees, franchisees, shareholders, and customers is key to driving results real results for business.

Some studies have found that companies who communicate effectively are more than 50% likely to report less turnover compared to the industry average in which 33% of those are considered the least effective communicators in business. Additionally, 97% of employees surveyed believe a lack of team alignment directly impacts the outcome of a project and 90% of those surveyed believe decision makers should seek the opinion of other employees before making a decision. 40% of those claim executives fail to do so. So what does all of this mean for you as an entrepreneur and business owner?

Communicating in the workplace inspires innovation. It encourages employees to come up with new ideas without feeling embarrassed or apprehensive. It creates an environment where people feel confident and excited to share their ideas with a larger group and it also forms an intuitive “open door policy” while moving through the hiring process. C-suite executives and senior leaders should promote healthy communication by opening their own door and encouraging other departments to work together on projects even when there may not be an inherent correlation between roles and responsibilities relating to a task or project.

Here are a few tips to help you kick start your workplace communication.

1. Ensure all rules and regulations are clear. This helps give clarity during uncomfortable situations regarding HR, customer satisfaction, and franchise operations. This also invites companies to place more value on the onboarding process.
2. Actually listen to what others are saying, even if it’s constructive criticism. The best way to grow as an organization is if people actively listen to each other’s needs, the company’s needs and the needs of the customer.
3. Learn from prior mistakes. Everyone makes them, even the biggest CEOs in the world. Recognizing and understanding the key learnings from a previous mistake is one of the most powerful tools for exceptional communication.
4. Create a sense of urgency when dealing with a stressful situation, especially with clients. Get on the phone or talk to them in person about finding a solution. Nothing is more effective than instilling a solution based relationship with customers.