It's that time of year again: March Madness! Every year, employees flock to college basketball. With many employees having smart phones, iPads and other devises, access to tournament pools and live game stream will be at an all time high this year. Rather than fight the madness, embrace it. Consider March Madness as an opportunity to create a fun atmosphere, engage employees, and build morale.
According to a report by consulting firm Challenger, Gray and Christmas, March Madness will cost companies $192 million in lost productivity. Challenger estimates that total online viewership during work hours is likely to reach at least 8.4 million hours during this year’s tournament, which begins with special qualifying games on Tuesday, March 15. Multiply that figure by the average hourly earnings of $22.87 among private-sector workers and the financial impact exceeds $192 million.
“Over the three weeks of the tournament, the nation's 108 million workers will have logged more than 11 billion hours of work. The 8.4 million hours lost to March Madness is a relative drop in the bucket, accounting for less than one-tenth of one percent (about 0.07 percent) of the total hours American
workers will put in over the three weeks of the tournament,” said Challenger, Gray & Christmas CEO John A. Challenger.
"Basically, there is no measurable impact on the economy or even an individual company's bottom line. However, if you ask department managers or IT staff whether March Madness has a noticeable effect on
productivity, they are likely to answer in the affirmative. The situation is comparable to a traffic accident, which does not have any measurable impact on the overall economy, but if you happen to be stuck in the resulting congestion and arrive late to work because of it, it has an immediate and noticeable impact on your day’s productivity.
Allowing employees to stream video can ave an impact on your IT infrastructure performance. “For an office with 50 to 100 workers, five or ten people streaming basketball games will definitely have an impact on everyone else’s Internet speed,” said Challenger.
Here are some tips for embracing the Madness:
Organize an Office Bracket Contest- Consider setting up a company bracket challenge. Sites such as CBS Sports and ESPN offer free private brackets. Invite employees to participate. Avoid requiring entry fees and cash prizes to avoid any legal issues. Offer prizes in the form of company merchandise. Be sure that your efforts are not encouraging gambling.
Host a Tip Off Party- It is amazing how many employees suddenly come down with a cold on Tipoff Thursday. Consider holding an event where you stream the games in for employees. For a few dollars you can bring in some snacks and beverages for employees to enjoy.
Embrace the Theme- Consider adding basketball-themed items and decorations around the office.
March Madness can be an exciting time for companies and employees. Embrace the opportunity to build morale and create a environment where people enjoy coming to work.
