March Madness costs U.S. companies $134 million in employee slack-time

March Madness costs U.S. companies $134 million in employee slack-time

VicesMarch 19, 2013

Same shit, another day. Each year, basketball enthusiasts around the country scramble about trying to pick the perfect bracket as if they truly know which teams will hold it together or crumble under the pressure. Inevitably, the lone female in the office who knows absolutely nothing about basketball goes on to win the pool and crush the hearts of her fellow co-workers. Even Obama picks his bracket each year in what seems like the longest moment on television each March. All the picking, pooling and shit-talking have their pitfalls though according to a new survey. 

Job outplacement firm Challenger, Gray & Christmas, estimates that March Madness will cost employers $134 million in "lost wages." The survey estimates that 3 million U.S. employees will spend one to three hours at work watching the games, and two-thirds of all workers will follow the tournament at some point during work hours. 

What do the managers and HR reps think of the news? They could care less. Of the managers interviewed, 75% believed that the three weeks of debauchery doesn't have any impact on employers and 16% said it actually has a positive impact on worker moral. Millenials prevail again.