Why internal communication is the secret to growth and innovation

internal communication

Joe Fredericks, founding director of PCA Law has helped to deliver communications training to over 150 clients since 2001, including over 30 leading global law firms and 20 FTSE 100 organizations.

In his recent keynote speech for Thomson Reuters, Elite Vantage NYC 2018, Fredericks revealed some key communications secrets helping top global firms to dominate their industries.

Fredericks explained, that “internal communication” is often overlooked by firms seeking to grow and innovate but it’s one of the biggest influencers impacting organizational growth. As such, those firms paying attention to internal communication can expect (and have seen) huge rewards.

On this note, Fredericks took his audience back to the “communications basics” and covered what many firms are lacking in their internal communication.

Internal communication - Why does it matter?

Great internal communication is at the heart of any successful organization. It's a core component to employee engagement initiatives, internal work process, and motivated, unified teams across an organization.

If internal communication is functioning properly, organizations can expect to see the following benefits;

  • Team members feel more supported, have higher morals and are less at risk of burnout
  • Overall work productivity is higher (clearer delegation, fewer mistakes & more motivation)
  • With increased internal fluidity and less “hiccups” employees have more time to focus on client needs

All of these factors contribute to business growth and allow organizations to grow as they have the required internal structures to support innovation.

How to implement great internal communication

Fredericks explained two key equations, utilized by top firms to create effective internal communication.

The Trust Equation

One key ingredient to effective communication, especially in relation to business growth, is building trust.

Fredericks used the “trust equation” to show an individual’s thought process when considering whether to establish a relationship of trust.

Trust = Credibility + Reliability + Intimacy / Self-orientation

So, when seeking to establish trust in clients or colleagues one must score highly on credibility, reliability, and intimacy and have a low self-orientation score.

Commercial Application Equation

This equation supports organizational innovation.

In most cases, the word “failure” comes with a negative connotation, but Fredericks noted that one cannot innovate and grow without failing and added, that it is important to have conversations about why something went wrong within an organization. Avoiding failure is not conducive to growth. If employees do not feel like they can try something different, how can a business expect to innovate?

Fredericks used the Commercial Application Equation to explain how failure assists innovation.

Organization Confidence + Client Creativity + Productive Failure = Commercial Appreciation

“Productive failure” means to change how we see mistakes, it means embracing failure. Organizations should feel confident and empowered enough, to tell clients that they may not have been successful in the course of an initiative. In fact, Fredericks explains, the ability to embrace failure demonstrates organizational experience, in that it has grown and experimented with more effective ways of executing a task or developing innovation. Through failure, teams learn to improve and be better. The Commercial Application Equation is a useful tool for developing “the next big thing.“

Internal communications can positively transform organizations in terms of both growth and innovation. It drives organizational productivity and helps employees develop defining qualities to form deep relationships and engage in two-way conversations that eliminate bureaucracy. It is a win/win for any organization and a determinative factor for those firms seeking to remain competitive in today's market.

To hear more from Joe Fredericks listen to his podcast interview where he discusses some of the challenges facing modern law firms and how they address them.  To listen, click here or to download and listen later, right-click

 

 

 

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