How much employers will lose to March Madness
March 16, 2016
There are two things we can always count on this time of year:
* Snubbed college basketball fans complaining that their team didn’t make the NCAA tournament.
* The annual forecast of how much revenue companies will lose due to productivity losses tied to March Madness.
This year businesses will lose $1.3 billion during the course of the NCAA tournament, according to Captivate’s latest Office Pulse study, which surveyed 784 people.
How did it come up with that number?
For this, Captivate used an average hourly pay of $10.61 for 122 million employees and averaged four hours of lost work per employee during the tournament, which works out to that $1.3 billion number.
But that number may actually be low, according to Challenger, Gray & Christmas, which used average hourly earnings of $25.35, based on numbers from the Bureau of Labor Statistics. By that measure, employers will actually lose closer to $3.9 billion lost wages paid to unproductive workers.
Regardless of what the actual number may be, it could be higher than 2015. Captivate’s survey found that interest in this year’s tournament is up over last year.
The company reports a 133 percent year-to-year increase in respondents who say they’re going to secretly watch games, along with a 13 percent lift in those who plan to spend at least $5 in a tournament pool.
‘How to Get Away With Murder’ equals a season high
Satellite’s now an afterthought in the era of digital radio
NASCAR spins its wheels as season gets underway
Best of the week: Ranking black American influencers
Paper cuts: Axe swings at The Financial Times
It’s time to get over the gimcrack of Times Square
Weekend TV: It’s Oscar time in la la land
People really didn’t like media coverage of the election
Cable overnights: ‘Alaskan Bush People’ rises in finale
ABC wins Wednesday with night’s top four shows
TV programming blog: All the cancellations and renewals
Who’s leading the February sweep? It’s complicated.
So-so start for HBO’s much-hyped latest new series
- Eight join at FCB Chicago
- Seth Kusiak rises to VP of infrastructure and security services at Advertising Specialty Institute
- John Podesta joins The Washington Post as contributing columnist
- Kim Lamoreaux joins DeForest Times-Tribune
- Lauren Burack rises to SVP of brand and consumer marketing at IFC
- Matthew Broderick starring in ‘Katrina: American Crime Story’
- Brad Garrett joins CBS drama pilot ‘The Get’
- Lea Michele joins ABC comedy pilot
- Lauren Graham joins Fox comedy ‘Linda From HR’
- Former Fox News Channel host Alan Colmes dies at 66
This week’s broadcast ratings
This week’s top-rated movies, songs and books
This week’s cable ratings
This week’s daypart ratings
This month’s digital traffic data: December 2016
Opening for a media planner at a top OOH agency
Orlando agency looking for a media planner/buyer
Freelance media planner/buyer available
Junior media planner/buyer position in Minneapolis-St. Paul
Media sales coordinator opening in New York