March Madness will cost companies $134M in ‘lost wages’

March Madness starts next week and that means productivity
will plummet as nearly one-third of U.S. workers will be watching basketball at
least three hours a day during work hours, according to an annual study by
global outplacement firm Challenger, Gray & Christmas

During the first two days of the NCAA Division 1 men’s
basketball tournament – when most games are played during work hours –
businesses will suffer at least $134 million in “lost wages the study says.

Not only will employees watch games during work hours, but
before the tournament begins , “people will be organizing office pools,
researching teams and planning viewing parties. 
When the games begin around noon, eastern time, on Thursday, many
companies will probably notice a significant drop in Internet speeds, as
employees start streaming games and clogging up the network’s bandwidth,” CEO
John Challenger said in a news release.

But will the annual hoops ritual really hurt the economy?
Will companies  feel the pain?

Normal
0

false
false
false

EN-US
X-NONE
X-NONE

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:””;
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin-top:0in;
mso-para-margin-right:0in;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0in;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:”Calibri”,”sans-serif”;
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;
mso-bidi-font-family:”Times New Roman”;
mso-bidi-theme-font:minor-bidi;}


Not really, Challenger said.

“The reason none of this will show up in a company’s bottom
line is that we live in an era where productivity cannot really be measured by
the traditional widgets-produced-per-hour formula.  Today’s workers – particularly those with
full-time internet access needed to follow March Madness – don’t produce
widgets.  They produce reports, memos,
and ideas.  They manage long-term
projects and work in teams.

“Thanks to the same technology that makes watching March
Madness from one’s desk possible, today’s workers can work from anywhere at any
time.  Many will simply get a little more
work done before or after the tournament to make up for any slowdown when games
are on during office hours. In the end, March Madness will have little if any
impact on employers,” Challenger said.

Commit this explanation to memory in case the boss complains
about the tournament.

Click here for the full Challenger, Gray & Christmas
report on March Madness.

Normal
0

false
false
false

EN-US
X-NONE
X-NONE

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:””;
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin-top:0in;
mso-para-margin-right:0in;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0in;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:”Calibri”,”sans-serif”;
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;
mso-bidi-font-family:”Times New Roman”;
mso-bidi-theme-font:minor-bidi;}