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It is that time in your -- -- and I were actually talking about this -- a few moments ago break out the brackets March Madness is here you pick out your best teams but -- the -- -- shell out whatever his tenth when he box for your office pool you could be costing your employer heck of a lot more and with us from Chicago now take you look at these numbers.
He's John Challenger CEO.
Of the outplacement firm challenger gray and Christmas as they say John it's good to see you and in better circumstances -- was in the -- talk about layoffs is that your firm puts out the numbers on but now you have this productivity survey.
On March Madness is it really true people can't multitask they're crossing their employers money by filling out those brackets watch the games well -- While we in fact -- to -- it's costing employers.
Up to one point eight billion dollars in lost productivity really during just the first week alone.
March Madness as everybody just gets focused on those -- and I just like to believe that we can do more than one thing at once in other -- you can watch the game.
I watch a little bit -- and I watched a little bit at duke -- my office before coming down to show and I feel like -- still pretty well prepared you know ACC tournament.
What you say no and I want to know the method like what how did you actually come up with these figures don't pick a -- that aero.
Now we looked at survey of last year's.
March Madness in terms of how many people but percent of the workforce.
Is watching these games -- an amount to about fifty.
Eight million people workers who during the work week.
Are on this March -- -- filling out pulls.
But talking around the water cooler streaming the video us live streaming videos are free now going out to a sports bars.
Over two long lunches.
And -- -- looked at their average wages.
What would cost it twenty minutes a day for those five days of those 58 million plus workers and that's where that one point eight million dollars comes from.
Okay now -- we're bringing those numbers up on the screen that you just went through their set final one which is in large type there one point eight.
Billion dollars it just.
Go back to the earlier -- every time I see a survey on sports.
It -- skeptic -- kind of concepts as well all right.
-- for example -- we have something about the stadiums and how much money they cost or how much money they matter how much -- sporting event adds to a certain area.
You sometimes economists forget to factor out -- was already there to begin with and is that the case sometimes with workers as well that they can in fact multitask that we're not giving ourselves enough credit but -- think.
Well I think there's some multitasking goes on but the -- your attention gets focused.
The by these sorts of things it has so many ways to participate young in these -- you might be reading news stories about your team's.
You might very well.
Just be reckoned ER you know after a long -- night watching your team's starting off well I got another when I got another when I'm trying to defend my job trying to get myself another reason I can cinema does he wants the game's next week and had never.
-- it -- about this so for workers watching their favorite teams are kind of in a good mood.
Happy workers are more productive worker got -- some aren't so.
I thought I'm a buyer -- and I think that one point eight million dollars in fact.
Is a good -- for employers here they've got sitting -- have thrown in their laps.
This event that brings workers together.
-- they have today you know the days of lifetime tenure -- on block temporary is in the workplace and if you -- Iceland with technology so work.
People don't get to know each other as well as they used to so here's this event that employers should be using.
It's costly to bring their workforce to get a deal morale so I don't buy that -- K -- -- in the -- as your final four by the way did you pick it yet.
I I have not picked yet but -- -- -- that this weekend but I think.
Certainly you know I like Kentucky and like Syracuse not yards down.
What I don't I don't really think right now I'm thinking about this year's big east is a great conference all right hey John thank you very much we're glad you give us a little bit to go on so we can get away with watch some of these -- -- to see you.
As they say that accounts available more fund and -- layoffs as usual we usually talk about jobs.
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