Study: March Madness costs billions in lost work productivity
PHOENIX (AZFamily) — There are now 16 teams left in the Men’s College Basketball Tournament, and the first four days brought millions of eyeballs to the TV screens to watch the games.
“I think it’s second to none,” said UofA fan Paul Stewart. “It’s by far the best tournament that’s out there for sure.”
Now retired, Stewart always makes a point to watch March Madness, even during the height of his career.
“I was just glad I was working from home because I didn’t get a lot done other than watch the basketball games,” he said.
The Action Network did a survey in February with 3,000 NCAA fans from across the country and found that 4 out of 10 people had admitted to, at one point, calling out sick from work to watch the tournament.
The study also estimates there will be over a $20 billion economic impact this March Madness from lost productivity at work.
“It’s something that your staff, the employees are looking forward to, excited about, and it also brings that sense of belonging and connectedness. So, if you as an employer are embracing that as long as you set some strict guidelines so the work performance doesn’t suffer,” said Author and Workplace Expert Paul Peters.
He says employers can bring TVs into the office or build-in breaks to let employees check in on their favorite teams.
“They will respond proactively and positively when you do that because that shows you as an employer that you care about your staff,” he said.
Arizona’s Family posted the question “Have you ever skipped work to watch March Madness?” on our website:
An overwhelming amount of people said they had not, but still, there were some who admitted to playing hooky.
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