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March Madness 2015

The Real March Madness? The Nearly $2 Billion Lost By US Business During Tourney

March Madness is great time to bond with co-workers—while not actually doing as much work, new study finds.

For many American businesses, March Madness is a time of everyone in the office, plant or store comes together no matter their department and age group.

No event builds camaraderie like the college hoops tournament, maybe with the exception of the annual holiday party for those companies that still have them.

But that camaraderie comes with a cost, says Challenger, Gray & Christmas Inc. a Chicago outplacement firm, estimates that the tournament this month will cost companies $1.9 billion in lost wages and distracted and unproductive workers. Most of that lost productivity comes in the first week of the tournament when workers filled out brackets, talk about the tournament with each other and even tune in to watch the games online Thursday and Friday or on the weekend if they’re working.

“It’s really focused in the first week even though throughout the tournament people are going to be streaming games online on their desktops and talking about the tournament,” says John Challenger, the company’s chief executive. “For the most part what takes up people’s time is doing the research to make their picks in the first place, then filling out the bracket and organizing the pools.”

Challenger says he believes the $1.9 billion is a conservative estimate for the length of the tournament and the amount may even be greater than $2 billion. More than 60 million people fill out brackets.

In terms of any distraction at work, Challenger says March Madness is unique because it’s not just sports fans but includes casual observers and people who have never tuned into a single game all season. Challenger says the tournament continues to grow as a preeminent sporting event in American culture and all age groups are caught up in it, including those 50 and older.

Not all distraction is lost productivity, however, because some salaried workers may just stay an hour later to get their work done if they got caught up filling out their brackets or watching some of the games, Challenger says. But for every one of those people, there are plenty who are unproductive for four hours or longer and come in late because they were partying the night before while watching the games, Challenger says.

The tournament resumes Thursday and Friday with the Sweet Sixteen.

“What people often forget is a huge chunk of the American working populace is paid hourly,” Challenger says. “They clock in and clock out. Some 52 percent of Americans are paid hourly, and it’s not just blue collar jobs. Its white collar jobs like lawyers in particular.”

With tablets and smart phones allowing workers in the field to keep tabs on the tournament has an impact as well as the extra-long lunch break that employees take during the tournament.

While productivity declines during March Madness, absenteeism is also high with people either taking off or calling in sick in the first two days of the tournament when there are back-to-back games and a lot of excitement starting at noon Eastern.

“You can bet there was quite of bit of absenteeism in Kentucky when (the No. 1 undefeated Wildcats) were playing,” Challenger says.

Other than March Madness, the only other sporting even that hinders employee productivity to any degree is the NFL. Those games are played on Sunday and Monday and Thursday nights, but Challengers says plenty of employees are engaged over the 17 weeks of the regular season putting together their fantasy football teams.

“There’s not to the magnitude of March Madness in this short of period of time, but fantasy football is a huge distraction. There are fewer participants but those who participate are diehards,” Challenger says. “Often people who do fantasy football are thinking about it all of the time and do it over the whole season. There are other fantasy sports as well. Fantasy is a huge time waster for Americans at work.”

Despite the loss of productivity during the first week of tournament, Challenger says employers should just accept it as something ingrained in the national fabric and that halting it would be like trying to stop a freight train. When even President Obama is filling out brackets, it would be difficult for bosses to clamp down, he says.

“We think companies should embrace March Madness,” Challenger says. “It ends up being such a good thing to have people from different departments talking about something other than the daily business and it brings together people who might not normally interact. And the cost of trying to ban March Madness completely could be so costly in terms of long-term morale, company culture, and employee retention.”

So rather than fight it next year, companies should embrace it with a free office pool that offers free lunch or a gift card to the winner, he says. Companies could even get started now with a pool of 16 teams instead of the starting point of 64 last Thursday.

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  171. Hey, how’s it going?

    I want to pass along some very important news that everyone needs to hear!

    In December of 2017, Donald Trump made history by recognizing Jerusalem as the captial of Israel. Why is this big news? Because by this the Jewish people of Israel are now able to press forward in bringing about the Third Temple prophesied in the Bible.

    The Jewish people deny Jesus as their Messiah and have stated that their Messiah has been identified and is waiting to be revealed. They say this man will rule the world under a one world religion called “spiritualism”.

    They even printed a coin to raise money for the Temple with Donald Trumps face on the front and with king Cyrus'(who built the second Temple) behind him. On the back of the coin is an image of the third Temple.

    The Bible says this false Messiah who seats himself in the Third Temple will be thee antichrist that will bring about the Great Tribulation, though the Jewish people believe he will bring about world peace. It will be a false peace for a period of time. You can watch interviews of Jewish Rabbi’s in Israel speaking of these things. They have their plans set in place. It is only years away!

    More importantly, the power that runs the world wants to put a RFID microchip in our body making us total slaves to them. This chip matches perfectly with the Mark of the Beast in the Bible, more specifically Revelation 13:16-18:

    He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.

    Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666.

    Referring to the last days, this could only be speaking of a cashless society, which we have yet to see, but are heading towards. Otherwise, we could still buy or sell without the mark amongst others if physical money was still currency. RFID microchip implant technology will be the future of a one world cashless society containing digital currency. It will be implanted in the right-hand or the forehead, and we cannot buy or sell without it! We must grow strong in Jesus. AT ALL COSTS, DO NOT TAKE IT!

    Then a third angel followed them, saying with a loud voice, “If anyone worships the beast and his image, and receives his mark on his forehead or on his hand, he himself shall also drink of the wine of the wrath of God, which is poured out full strength into the cup of His indignation. He shall be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb. And the smoke of their torment ascends forever and ever; and they have no rest day or night, who worship the beast and his image, and whoever receives the mark of his name.” (Revelation 14:9-11).

    People have been saying the end is coming for many years, but we need two key things. One, the Third Temple, and two, the technology for a cashless society to fulfill the prophecy of the Mark of the Beast.

    VISIT http://WWW.BIBLEFREEDOM.COM TO SEE PROOF FOR THESE THINGS AND MUCH MORE! TELL YOUR FRIENDS AND FAMILY. SHARE THIS MESSAGE!

  172. hello!,I like your writing very much! share we communicate more about your post on AOL? I require a specialist on this area to solve my problem. May be that’s you! Looking forward to see you.

  173. Hey, how’s it going?

    I want to pass along some very important news that everyone needs to hear!

    In December of 2017, Donald Trump made history by recognizing Jerusalem as the captial of Israel. Why is this big news? Because by this the Jewish people of Israel are now able to press forward in bringing about the Third Temple prophesied in the Bible.

    The Jewish people deny Jesus as their Messiah and have stated that their Messiah has been identified and is waiting to be revealed. They say this man will rule the world under a one world religion called “spiritualism”.

    They even printed a coin to raise money for the Temple with Donald Trumps face on the front and with king Cyrus'(who built the second Temple) behind him. On the back of the coin is an image of the third Temple.

    The Bible says this false Messiah who seats himself in the Third Temple will be thee antichrist that will bring about the Great Tribulation, though the Jewish people believe he will bring about world peace. It will be a false peace for a period of time. You can watch interviews of Jewish Rabbi’s in Israel speaking of these things. They have their plans set in place. It is only years away!

    More importantly, the power that runs the world wants to put a RFID microchip in our body making us total slaves to them. This chip matches perfectly with the Mark of the Beast in the Bible, more specifically Revelation 13:16-18:

    He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.

    Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666.

    Referring to the last days, this could only be speaking of a cashless society, which we have yet to see, but are heading towards. Otherwise, we could still buy or sell without the mark amongst others if physical money was still currency. RFID microchip implant technology will be the future of a one world cashless society containing digital currency. It will be implanted in the right-hand or the forehead, and we cannot buy or sell without it! We must grow strong in Jesus. AT ALL COSTS, DO NOT TAKE IT!

    Then a third angel followed them, saying with a loud voice, “If anyone worships the beast and his image, and receives his mark on his forehead or on his hand, he himself shall also drink of the wine of the wrath of God, which is poured out full strength into the cup of His indignation. He shall be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb. And the smoke of their torment ascends forever and ever; and they have no rest day or night, who worship the beast and his image, and whoever receives the mark of his name.” (Revelation 14:9-11).

    People have been saying the end is coming for many years, but we need two key things. One, the Third Temple, and two, the technology for a cashless society to fulfill the prophecy of the Mark of the Beast.

    VISIT http://WWW.BIBLEFREEDOM.COM TO SEE PROOF FOR THESE THINGS AND MUCH MORE! TELL YOUR FRIENDS AND FAMILY. SHARE THIS MESSAGE!

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