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Across the Pond

By Harrison Monarth (November 2008 Issue)
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With the United States in a full-blown recession that seemingly spans the globe and financial markets reeling from failing banks and international bailout manoeuvres, the last thing US employers needed was more bad news. But that’s just what they got.

In a recent IDC white paper commissioned by employee assessment specialist Cognisco, employers from both sides of the Atlantic learned about the steep price they’re paying for employee misunderstandings at work. The damage to US and UK businesses, it turns out, is in the tens of billions of dollars year after year.

The white paper, titled $37 Billion: Counting the Cost of Employee Misunderstanding, details employee misunderstandings as “actions taken by employees who have misunderstood or misinterpreted – or were misinformed about or lack confidence in their understanding of – company policies, business processes, job function or a combination of the three.”

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