Forty-one percent of chief financial officers report that a lack of communication between staff and management is the most common mistake companies make in managing their teams, according to a new Accountemps survey.

Following lack of communication are lack of recognition and praise at 28 percent, lack of training and development or educational opportunities at 11 percent, lack of flexibility in work schedules at 8 percent, and lack of authority given to employees at 6 percent.

“Employees want to be kept in the loop and feel appreciated,” says Max Messmer, chairman of Accountemps. ”An organization can only be successful if its employees have the information and support they need to do their jobs well and a forum for two-way communication.”

According to Accountemps, managers should tell employees what’s happening to prevent tension and rumors and ask what they need to ensure employees have the necessary resources to perform effectively. Managers should also thank their staff, find out what challenges they are facing and encourage them to suggest how to better achieve business goals.