(NECN) In what's become a March tradition along with the NCAA basketball tournament, the Chicago outplacement firm Challenger, Gray, and Christmas has released an estimate of what March Madness could cost employers in lost worker productivity.
The firm said the games could cost employers $1.2-billion every hour employees are distracted at the workplace.
That is based on an estimate of 50-million Americans, earning a wage of $24.31 an hour, which Challenger, Gray, and Christmas took from a recent employment report from the U.S. Bureau of Labor Statistics on average wages.
"There are distractions every day at the office, but the first week of the annual men's college basketball tournament is particularly hazardous to workplace productivity," the company's CEO, John Challenger, said in a press release. "While March Madness distractions may not alter the nation's quarterly GDP numbers, you can be assured that department managers and network administrators notice the effect on work output and company-wide internet speeds."
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