Fantasy Football Expected To Cost $8 Billion In Lost Work Time This NFL Season
by: Andrew Schneider, September 3, 2013 5:09:00 am
Employers can expect to lose at least an hour of work time each week over the course of the NFL season from employees who manage fantasy football teams. The latest data from the Bureau of Labor Statistics puts the average hourly earnings for non-farm, private sector employees at $23.98 for July.
John Challenger is CEO of global outplacement firm Challenger, Gray and Christmas.
“Now that’s not a very big deal if you’re talking about one person, but when you multiply it across the 23 million working Americans who are playing fantasy football, it costs employers $551 million plus. Now if you multiply that across the typical fifteen-week season, it actually totals over $8 billion in lost productivity.”
Challenger says across-the-board bans on fantasy football or sports websites at the office tend to backfire. Such bans damage employee morale and loyalty — potentially leading to even greater losses in productivity.