Over the past few weeks, you got to know why you need to boost up the internal communications of your startup/enterprise. Enterprise Social Networks boost the efficiency and clarity in the internal processes of an enterprise to optimum levels. We spoke about how Enterprise Social Network Solutions can help provide a Tacit Knowledge for your company and in part 2, we elaborated further on how they help not only enable new joinees to hit the ground running but also provide an opportunity to discover new stars in existing human capital.

Now here are the hard numbers for the finale. Let’s look past the implications and theories. Let’s talk numbers. Enterprise Social Networks are crucial to your enterprise and it’s productivity for 10 mammoth reasons which you might not know. Take a look, this is all about money!

1. Companies that have highly effective internal communications had 47% higher returns to shareholders over the last five years, compared to companies with the least effective internal communications.

2. $26,041 (£17,220) is the cumulative cost per worker per year due to productivity losses resulting from communications barriers

3. 74% of employees in UK agree that ESNs will help them improve efficiency and collaboration. However, 79% of organizations fail to incorporate ESN’s in their work processes.

4. $37 billion (£24.4 billion) is the total estimated cost of employee misunderstanding among 400 corporations (100,000 employees) surveyed in the U.S. and U.K. This is defined as actions or errors of omission by employees who have misunderstood or were misinformed about company policies, business processes, job function or a combination of the three. The average cost per corporation is $62.4 million (£41.2 million) per year.

5. 71% of US employees are not engaged costing $416 billion (£275 billion) in 2009 alone.

6. Every employee that crosses over from disengaged to engaged adds an incremental $13,000 (£8,590) to the bottom line each year.

7. A business with 100 employees spends an average downtime of 17 hours a week clarifying communication. This translates to an annual cost of $528,443

So there you go. You know the reasons. You know the numbers. And now, you have a solution. Take a look at how we at Vinfotech can help you. We’re known for developing high end, best in class web and mobile software products across the world. We have worked with esteemed enterprises and exciting startups. We’ve worked in sports, education, healthcare, real estate, mobile startups, anything and everything where passion and innovation exists to bring the best to the table.

And now we bring to you our very own Enterprise Social Network Solutions. Customized and aligned with your business needs. Developed from the ground up to propel your business and enhance the scalability.

Vinfotech is a web design and development firm based in San Francisco and India. We design and develop high end social network solutions for startups and mobile startups around the world. Give us a call if you want to find out how to growth higher and bigger with our Enterprise Social Network Solutions.

Related reading:
Reasons why your company needs Enterprise Social Networking: Part 1
Reasons why your company needs Enterprise Social Network: Part 2