|Investment in communication pays
Those who work and act internationally have to be great communicators – or suffer the economic consequences.
Leonard Orban , EU commissioner for multilingualism, knows that half of all Europeans do not speak a foreign language. However, 80% of participants from an international survey of the career portal Monster believe that multilingual abilities are very important in their work environment. The only exceptions are the native English speakers: 40% of Americans and 44% of British believe that foreign language abilities are not important for their job. This may be ascribed to English being the business language of the world. Even though all over the globe people smatter in English. A local politician in Tennessee , who wanted to ban the use of foreign languages altogether, failed in gaining the majority. Luckily so - because Tennessee exports to Mexico, China and Japan.
The use of foreign languages should not be abandoned, because the economic consequences of this speechlessness are immense. Using Europe as an example, the CILT institute has assessed these ramifications in the ELAN study . Companies of 29 countries surveyed reported export business losses of billions of Euros resulting from insufficient language skills. 11% of the 2000 medium sized companies failed due to the language barrier, additionally 10% lost contracts due to missing intercultural competency. Not only does the vocabulary have to be mastered but also the customs of the partner county have to be interpreted and catered to correctly. This study lists an average loss of 345.000 Euro caused by inadequate communication. Companies focused on building their language competency and using translators where employees needed support registered 44.5% more exports.
Conclusion: Multilingualism in companies opens new markets and business opportunities.
mcK-B can help with your German/English correspondence as well as telephone conversations and supports you with translations and language coaching for your business relations.
Ensure a great and consistent connection.