Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
March 13, 2006
How Much Will March Madness Cost You?

March Madness could cost employers as much as $3.8 billion in lost wages this year, according to an estimate by Challenger, Gray & Christmas, Inc., an outplacement consultancy.

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!

The college basketball tournament could have a bigger effect on the economy this year because CBS Sports has decided to broadcast the games over the Internet for free. In the past, CBS charged for the service.

The firm estimates $237 million in wages would be lost if workers spend just 13.5 minutes on basketball sites during the tournament but says that many workers will be spending even more time following the tournament.

"If we estimate conservatively that fans will spend 13.5 minutes online each day, beginning March 13 and continuing through the championship game on Monday, April 3, that is 16 business days," says John A. Challenger, chief executive officer of the firm. "The total hit to employers' bottom lines could amount to $3.8 billion. The cost may end up being much higher, since it will now be possible to watch entire games on the Internet."

Challenger suggested that while employers should take steps to limit abuse of company resources, employers may want to consider creating their own pools as a way to boost morale and eliminate the gambling aspect that accompanies the tournament.

"Companies may want to expand their Internet blockers to include college basketball sites and they may want to encourage workers to refrain from watching entire games at their desks," Challenger says. "However, there is no reason a company cannot institute a companywide pool, which employees can enter for free and winners receive some type of gift, such as an extra day off or a restaurant gift certificate."

He also suggested that employers offer flexible schedules, so employees can arrive early and leave in time for the games.

Featured Free Resource:
Cost Per Hire Calculator
Twitter  Facebook  Linked In
Follow Us
Copyright © 2017 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on
Document URL: