The Agurban from Boomtown Institute

March Madness – It’s Happening Again!

Well, it’s that time of year again. No, not spring. It’s NCAA Tournament time, which means 70% of our office has taken time, undoubtedly, work time, to select teams to complete their tournament brackets. How much is this costing me?

According to outplacement consultancy firm Challenger, Gray & Christmas Inc., this annual distraction could cost employers as much as $1.7 billion in wasted work time over the 16 business days of the Tournament, starting the Monday after the teams and brackets are selected (March 17) through its conclusion on Monday, April 7, in San Antonio, Texas.

Using average hourly earnings of $17.50 (according to the Bureau of Labor Statistics), Challenger calculates that workers earn an average of $2.92 every 10 minutes ($17.50 divided by 6). So, for every 10 minutes of work time the 37.3 million March Madness office pool participants spend focused on the tournament instead of their job responsibilities, employers will lose $108.9 million ($2.92 times 37.3 million).

Even if these workers waste just 10 minutes per day on March Madness, starting the day after selection Sunday, the cumulative outcome is a loss of $1.7 billion ($108.9 times 16) in unproductive wages.

Therefore, the total cost in our office is $607.36.

That’s all?!

Go North Carolina!!

The Blog Log
Visit my weblog to see where I’ve been and what I have learned along the way.

On the road again…
In addition to my travel blog I’ll list my upcoming engagements in each issue of The Agurban. Come see me when I’m in your neighborhood!

Jack’s Schedule

Upcoming Speaking Engagements:

March 27, 2008 – Watertown, NY – NYS Tug Hill Commission
April 4, 2008 – Marshall, MO – MO Valley Community Action Agency
April 7, 2008 – St. Louis, MO – Heartland Professional Workforce Development Conference
April 8, 2008 – Godfrey, IL – North Alton – Godfrey Business Council

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Jack Schultz is the CEO of Boomtown Institute and Agracel Inc., an industrial development firm majoring in rural America, author of Boomtown USA, and speaker. Boomtown Institute serves as an economic development mentor to communities across the United States, leading communities to realize their full potential.

Visit the Boomtown Institute website at http://www.boomtowninstitute.com
Keep up with Jack as he tours the country on his blog!
Read past Agurbans at Agurban Archives.
To learn more about Agracel visit http://www.agracel.com.

email: [email protected]
phone: 217-342-3000
web: http://www.boomtowninstitute.com