The True Cost of March Madness to Employers: $134 Million!
Ah, it’s that time of year again. The first day of spring and of course, March Madness!
Chances are, by now you’ve already completed your brackets and while employees compete during the tourney, it turns out the NCAA men’s basketball romp will cost U.S. employers a ton of lost wages this week.
In fact, Challenger, Gray & Christmas, outplacement firm, indicated the three week tournament will cost employers a loss of $134 million in the first two days alone! About one to three hours are spent at work watching games and two-thirds of all employees will follow the games during work hours.
Here’s the kicker: Despite lost wages, OfficeTeam conducted a separate survey, as pointed out by Time, and revealed the NCAA brackets don’t really have a negative impact on productivity.
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