Communication barriers and problems are rampant across many companies. Entrepreneur published an infographic that addresses the business costs associated with these issues and proposes Enterprise Social Networking (ESN) as a solution. The infographic, called The Secret to Higher Employee Productivity: Social Networking, shares information on the use case for social media as a set of tools to streamline internal communication, file sharing and employee collaboration.
There are many reasons that companies are deploying ESN, namely: sharing best company practices, facilitating collaboration, evolving company culture and identifying expertise around the company.
According to the infographic:
The cumulative cost per worker per year due to productivity losses resulting from communications barriers is $26,041.This translates to an annual cost of $528,443. Companies with highly effective internal communications had 47 percent higher returns to shareholders over the last five years, compared to companies with the least effective internal communications.
Unlocking insights available in the mountain of unstructured data any given company has is a vital process for making important business decisions in today’s world. Selecting a search and information management vendor is one such decision and will require thought on the part of the company in question in regards to specific use cases they require. Any company, however, will benefit from utilizing a solution embracing semantic search technology as it gives meaning and context to raw data, thus enabling true business intelligence.
Megan Feil , July 31, 2013