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Tomorrow officially kicks off.
March Madness as the nation's top 64 college basketball teams face off in one of the most anticipated.
Sporting events of the year the NC -- -- torn.
President Obama -- already chimed in he's ready with his NCAA final four -- For the men's side he's predicting Kansas to take on Kansas State with Kentucky.
Going up against Villanova last year -- -- the president incorrectly.
Pick the winning team North Carolina to win the championship.
-- The -- study by challenger gray and Christmas reports businesses stand to lose more than -- billion dollars.
In the time wasted by employees.
-- batting have these games for more I'm joined by John Challenger.
It is the C challenger gray and Christmas in Chicago John thank you for joining us.
Nice to be here so really bedding on the NCAA tournament.
Means some people aren't working as much.
-- Not just batting.
-- it's filling out your brackets researching your team's reading about the games as they go on.
Shiites talking around the water cooler about it then and now even more it's watching.
Does streaming live videos of the games in the first week that take place.
During the work day.
And so Europe your company does a survey on net since so what are the numbers involved how much to businesses stand to lose.
From all of this slacking -- What we expect it's going to cost employers.
One point eight billion dollars.
As workers or -- -- By March Madness and the way we come at that -- is there was a study last year by Microsoft.
That suggested that 45%.
Of people in the country were participating.
-- in a pool.
If you then look at the number of workers in the US it's about a 130 million you realize 58.
Million people plus people could be.
Filling out these pools and they they average about 1870 now -- you multiply -- out that's -- that number at all complicated.
I've got quote from a psychologist the University of Virginia who's got an opposing view on this lets you think that's a good day how batting all the talk going on.
Don Ford says that the psychologist.
Says it's a powerful social process.
How -- is included it build cohesion -- pay an expert to come in to do that for your company anyway.
March Madness does it for free thinking about that.
I agree let it.
In -- I think beyond that that one point eight billion dollars in cost is a good -- for American employers because there is so much.
Isolation in the workplace today people are telecommuting.
They far more temporary in the workplace today people who have short tenure so if you can find a way to bring those people together.
To talk with each other about say something.
Other -- the latest daily business transaction that's not all bad so blessed to have this marvelous opportunity that just -- on their lap.
But you know John that some companies especially some larger corporations.
Employees aren't necessarily allow you to go on their computers and -- to Spain you know online games or -- potentially you know.
Brackets for the NCAA.
March Madness tournament and then this could be breaking the -- for some of these folks.
Well there are.
Who no doubt because of the streaming feeds.
We'll see their computer systems clogged up -- all that.
Bad -- -- and it's being utilized so I think there is some issues some companies are instead saying.
How about if we put TV or some TDs in the lunch room to avoid that kind of issue there are some companies that just.
-- feel that gambling in the workplace is wrong even then that -- tenement perhaps financial companies that might worry about that so there are some -- legitimately.
That have some real concerns about this.
Well then and certainly if you're saying that it's gonna cost employers you might be a little bit concerned about I was down -- for a New York Stock Exchange yesterday and a probably hate me for saying this but you can you know I can walk the floor without somebody stopping asking if you wanted to get involved.
An -- bracket or their tournament picks are.
I don't knock this on the committee that I never bet on sports -- that it takes the fun out of that I'm sure a majority of the public would disagree with me -- It can't take away from the workforce.
Well I do think that yet people do get very engaged there are people who go out to.
Sports bars to watch these games they may miss some worker come back late from -- to make.
He I'll be watching these things all night long and -- certain late into the night in and death.
Call in sick the next day or maybe their favorite team college team is going to be -- so certainly there are concerns but yet again think about this term and it really is a way.
And I think it's it cut the quintessential.
That tournament and sports event of this era it's really a way for people to say something about themselves because there's so many teams and -- regions involved and as they get involved with each other in the workplace.
And John as you are saying that we're running a banner underneath here underneath the -- that said there's over four billion ways.
That his dirt and they can turn -- good luck and I got my money's not -- I think -- it.
-- -- -- -- -- -- Am bracket in fact do we we give out.
-- -- hundred dollar gift certificate.
To the winner nobody asked to put any entry fee yeah I am right now I've got Kansas as the winner.
I can I can I see how can be a social thing and you know get the office together on on the wall bracket so.
I want I want smackdown on it too much -- John thank you what's your pet at a lack.
Here for overall well that's opposite so I've got Kansas K state West Virginia and duke in my final four with Kansas winning the whole thing.
-- you don't all right well thank you so much for joining us on.
Right thank you downtown -- -- challenger gray and Christmas.
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