Benefits and Drawbacks of Indexation Clause in Reinsurance
In the previous article, we have already seen what an indexation clause in reinsurance contracts is. We are now aware of the purpose behind having indexation clauses in reinsurance contracts. We also know the various variations of the indexation clause which are common in the marketplace. However, before taking a final decision on whether or […]
The Challenge for Contemporary Leaders is to Restore Trust and Faith in Institutions
Loss of Trust and Faith and the Rise of Populists Public trust and faith in institutions is at an all time low. Starting with the Global Financial Crisis of 2008 in the United States and then the Sovereign Debt Crisis in Europe in 2009, including the Brexit vote in the United Kingdom, and the election […]
Loss Distribution Approach
A loss distribution approach is a common approach followed by risk management practitioners in order to identify and evaluate the possible risks that they are likely to face in the due course of business. The loss distribution approach has actually been designed by the actuarial practitioners who work in the insurance industry. It is for […]
Disadvantages of Risk Management Information Systems
Technology has disrupted the entire business world and the field of risk management is no exception. All across the world, companies have been spending millions of dollars in order to upgrade themselves and use technology in a manner that helps them minimize risks. There are several advantages to this approach which we already studied in […]
Collateralized Debt Obligations: Advantages and Disadvantages
In the previous article, we studied about how collateralized debt obligations (CDOs) are derivative instruments that have been built on top of other derivative instruments. They are complicated to understand and risky to trade. However, despite the various negative accusations against collateralized debt obligations (CDOs), they continue to be very popular. This is because they […]
Managerial communication refers to interaction among managers and their subordinates within an organization.
It is essential for managers to communicate with their team members and vice a versa to ensure maximum productivity and peace at workplace.
Communication generally takes place as:
Downward communication - Flow of information from managers to employees
Upward Communication - Flow of information from employees to managers
Managerial communication generally takes place through the following ways:
Verbal communication is one of the most common ways of communicating at the workplace. Managers call their team members on a common platform and instruct them as to what is expected out of them.
In verbal communication, team members are told about their roles and responsibilities orally through words.
The addressee needs to be extremely careful about the choice of words whereas recipients need to pay attention to the speaker.
The speaker needs to take care of his pitch and tone in verbal communication. It is the way you speak which is important in verbal communication. Make sure you are audible to all even to the person sitting on the last bench.
Speak clearly. Stick to the topic and do not confuse others.
Presentations, seminars, group discussions and so on are all forms of verbal communication. Verbal communication can take place through face to face interactions, communicating over phone or addressing a group of employees.
Individuals need to take care of their body language while communicating. Make sure you exude positive body language while interacting with your fellow workers and team members.
Do not carry a frown on your face. Smile more often. This way people would love interacting with you and pay attention to whatever you intend to communicate.
Hand movements also play an important role in effective managerial communication. The speaker must not fiddle with things while speaking. It is essential for managers to make an eye contact with team members for the desired impact.
Communicating through emails is considered as one of the most reliable modes of communication.
After communicating verbally with your team members, make sure you do send a mail to them briefing everything that was discussed at the meeting.
Emails need to be self explanatory with a relevant subject line. Do not write stories in emails. Emails should be short, crisp and effective.
Do not use capitals in emails unless required.
Take care of your spellings, grammar and punctuation marks.
Official emails should not have flashy icons and images. Keep it simple and avoid using stylish fonts. Official emails should ideally be written in Arial Font with text size 12.
All related employees must be kept in the loop. The employees should also mark a carbon copy to their team leaders for them to know what is happening around.
Communication also takes place through circulars and notices. Notices should be displayed on the company“s main notice board for everyone to read Notices must have important dates and relevant information. Ask your office boy to get the circular signed by everyone.
Your email address will not be published. Required fields are marked *
