Communication pays

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Investment in communication pays off. Anyone who works and trades internationally must be able to communicate perfectly - otherwise there will be economic consequences.

Half of all Europeans do not speak a foreign language. Yet, according to an international survey by the career portal Monster, almost 80% of respondents consider multilingualism in the workplace to be very important. English is now established as the language of global business, and around the world, we are talking at cross-purposes.


The ELAN study conducted by the CILT Institute used the example of Europe to determine the economic consequences of a lack of language skills. It examined companies in 29 countries and discovered losses of billions in export business caused by insufficient foreign language skills. 11% of the 2,000 medium-sized companies had failed because of the language barrier, and another 10% had lost contracts because of a lack of intercultural competence.


But it is not only the vocabulary that needs to be mastered; the customs in the partner country also need to be interpreted and handled correctly. The study puts the losses incurred in this way at an average of 345,000 euros. On the other hand, companies that systematically built up language skills in their company and employed translators in areas where their employees' knowledge was insufficient recorded 44.5% more exports.


Conclusion: Multilingualism in the company also provides access to new markets and opens up new business opportunities.


McK-B will gladly take care of your English correspondence as well as telephone calls and support you with translation services and English training in your contact with English-speaking business partners. So that a good connection is always established - and continues!