There’s no arguing that technology makes us more efficient at work, but when it’s time for March Madness, brackets drop profits like players drop buckets.
Let me be the first to admit that yes I am doing a March Madness bracket this year, and yes I will be “periodically” checking on games as they occur, and I know I’m not the only one. Furthermore, I will be using my computer, and my phone, and I will be inviting coworkers to speculate about the one of the most unpredictable, exciting, American sporting events of the year. But what does this mean for productivity? Business owners and managers stop reading here. A calculation from Gray & Christmas, an outplacement firm, expressed two estimates on this year’s potential loss in productivity. On the conservative end, it’s estimated that 23.7 million employees will use company time for the construction of March Madness brackets, team research, and checking on games. This means employers could lose approximately $615 million dollars in wages. The high-end estimate is that up to 81.5 million employees will spend at least one hour on the tournament, resulting in a potential 2.1 billion in lost revenue.
This estimate is slightly higher than last year’s prediction of 1.3 billion dollars per hour, and John Challenger, CEO of Gray & Christmas attributes the increase to a strong economic climate. Employee wages are slightly higher than they were in recent years and that means every hour away from the grind is more costly to employers.
With television viewership down, it’s clear that people are following their March Madness brackets and alma maters via the internet. Employers who are trying to block live streams and certain websites from company systems are finding their efforts are stymied by the smartphone. Last year alone, the NCAA served up college hoops on 12 different digital platforms. This means you don’t even have to be at a desk to check on your bracket’s health.
It seems like some loss is inevitable, but I think it’s only fair to realize that the same machines that let us be more productive can also do the opposite - I’ll be doing my March Madness bracket online.
