Effects of Miscommunication. In the following pages, I will discuss the direct link between company performance and its ability to recognize and correct employee errors. The theory will be bolstered by a short description of the theory, how it applies to
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The Effects of Miscommunication and Inaccurate It is impossible for an employee to make a mistake in his or her daily work. The current way we do our jobs is the best and it would be impossible to find a better and more efficient process. Unless you were born last night, those two statements would clearly be wrong. Mistakes and errors are a part of the daily life of most people in the world. Many consider errors as valuable learning experiences and remember not make them again. However, what happens when those errors and mistakes go unreported and uncorrected? The potential for a disastrous situation could compound with each error for an organization which relies on efficiency. In the following pages, I will discuss the direct link between company performance and its ability to recognize and correct employee errors. The theory will be bolstered by a short description of the theory, how it applies to businesses today, and a supporting case study. The theory that bad things will happen when you don't correct your mistakes seems simple and straight forward. However, when this idea is applied to a large organization, the number of potential errors and lack of oversight is a real problem for many companies. The main focus for my research was the financial industry. In this industry, the type of work can be very complex and challenging. Firms and banks process thousands of transactions per day (FINRA). There comes a point where the expectation for a manager to oversee every process becomes unreasonable. ...read more.
Even though we have excellent training methods, we still face errors each day. When you deal with other people's money as we do at the Bank of New York Mellon, there tends to be a greater impact of errors when they go undetected. In some cases we may even be in violation of state or federal laws. Due to this reason, we have entire departments created where their sole responsibility is to detect and correct errors. In these areas, the staff is required to reach out to the person who made the error, explain what happened, and ensure that the correction is made. We are also under very strict compliance standards set forth by the SEC, FINRA, and the federal government. Our compliance department has established a standard from many cases over the years involving customer data. Recently, the focus on identity security has been growing due to the rising number of identity theft crimes. At the bank, we have access to all of our customer data and it is extremely important to keep that data confidential. In the cases where a mistake is made and we compromise this confidentiality, we have 72 hours to report the incident to our compliance department for review. If we fail to do this in this time frame, our company could face legal action from our customer, the SEC, and the government. We stress the importance of all our compliance responsibilities to every employee constantly through the year. The financial regulatory institutions take these issues very seriously and fine violating companies frequently for non-compliance. ...read more.
The study concluded with a short interview of the nurse technician that was observed. When she reflected on why she did not report the errors during her shift, she didn't feel like it was because of fear of blame or lack of time. She even admitted that she recognized the errors herself. The nurse concluded that at the time of the error she considered them routine errors in the daily operation of a hospital (Henneman). This concept shows that the medical professionals in this hospital are becoming accustomed to these errors and potentially not realizing their complete impact on all the parties involved. The researcher suggests that the use of a focus group could be implemented by the hospital management to identify communication and reporting problems. She also suggests that the hospital utilize people that are outside of specialty areas or even outside hospital staff to identify problem areas (Henneman). These people would not be accustomed to the daily errors and would be able to recognize them more easily. In conclusion, the ability for an organization to recognize and correct employee errors is extremely important. Failure to accomplish this can result in detrimental service for a company's customers and even monetary penalties for violating laws. As evidenced in this report, the ideas and concepts can be used in different service industries. Each company should carefully review their situations before implementing techniques to catch and correct errors. Mistakes are bound to happen even in the most organized companies. What separates the best from the rest is how they handle them. ...read more.
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