How much time do you think the average college basketball fan will spend at work reading about, talking about or watching the NCAA men’s basketball tournament, which begins next week?
Chicago-based consulting firm, Challenger, Gray & Christmas, estimates that employers could lose more than $1.2 billion due to employee lost productivity during the tournament. The first two days of the tournament alone on March 15 and 16 when 32 games are scheduled could cost employers as must as $260 million in wages because employees will be watching the games instead of working. An additional $86 million could be lost as a result of fans watching games online over the first two days, courtesy of streaming video of 56 games on NCAAsports.com.
An estimated 22.9 million working fans with Internet access will spend an average of 13.5 minutes per day checking on scores and getting tournament updates.
And these figures don't even take into account all the conference tournament games that are played the week before the tournament.
The consultants also suggest that employers can use the tournament to build camaraderie among the staff with office pools, have the games on in conference rooms or encourage employees to wear apparel of their favorite team.
That’s what I call team spirit.
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