econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 19 August 2015

Fantasy Football Sacks Productivity

by Challenger Gray and Christmas

As fantasy sports and, more specifically, fantasy football continue to grow in popularity, so might the financial impact on the nation's employers. However, companies should not crack down on workers managing their teams at the office, but instead embrace the fantasy fanaticism.

Over the 17 weeks of the NFL preseason and regular season, millions of Fantasy Football participants -- an estimated 66 percent of whom are employed full time - will be researching, building and managing their fantasy football teams. Many will do this during work hours from cell phones, tablets or the speedy internet connections found in most modern workplaces.

The cost of this workplace distraction could approach $16 billion in lost wages paid to workers managing their teams during business hours. Said John A. Challenger, chief executive officer of global outplacement and executive coaching consultancy Challenger, Gray & Christmas, Inc:

That figure represents just one hour of unproductive work time each week during the 17-week stretch in which fantasy football becomes an obsession for millions of Americans. However, before getting worried about fantasy football leading to the economy's collapse, it is important to understand that the figure accounts for a tiny fraction of all the wages paid out over that period.

Unless you are J.J. Watt, who appears to put in 100 percent during every hour of his workday, it is impossible to reach full productivity. We would burn out within a week. Just look at all of the negative attention given to Amazon.com in recent days for pushing its employees to their limits with a pace and set of expectations that reportedly leave many workers crying at their desk, at some point. Whether you believe the reports or not, most people agree they would not want to work for the type of employer depicted in those reports.

We need distractions during the day, whether it's checking Facebook, scanning Twitter, buying something at Amazon.com, or managing one's fantasy football team. It may seem counter-intuitive, but those short periods of being unproductive help workers be more productive in the long run. They also help boost morale, lower turnover and keep our creative juices flowing. For these reasons, employers may not only want to avoid clamping down on fantasy football, but may want to encourage it within the office.

Forty percent of respondents in a 2006 Ipsos survey said fantasy sports participation was a positive influence in the workplace. Another 40 percent said it increases camaraderie among employees. One in five said their involvement in fantasy sports enabled them to make a valuable business contact.

Back to that seemingly wild estimate of financial losses related to fantasy football; Challenger based it on the number of fantasy football players nationwide multiplied by average hourly wages.

According to the latest data from the Fantasy Sports Trade Association, approximately 56.8 million Americans and Canadians will participate in fantasy sports this year. That is up from about 12.6 million in 2005. The Association reports that 66 percent or about 37.5 million of those participants are employed full-time.

Meanwhile, the latest figures from the United States Bureau of Labor Statistics indicate that Americans on private-sector payrolls earned an average of $24.99 per hour in July. So, each hour of wasted work time among the 37.5 million fantasy sports enthusiasts costs employers $937,125,000 (37,500,000 X $24.99).

Multiply that figure out over the four weeks of the preseason and 13 weeks of the regular season, and the total loss comes to $15,931,125,000. Challenger concluded:

Of course, many fantasy football fans will spend time, some during work hours, trying to debunk this figure. And, we are not suggesting that this figure is not debunkable. It can definitely be broken down and picked apart, mostly because it actually would be impossible to measure the true impact of fantasy football on productivity or a company's bottom line.

However, one cannot dismiss the idea that fantasy football is not wildly popular or deny that it has crept its way into the workplace. It may be immeasurable in terms of real dollars and cents, but undoubtedly there are workers, managers and supervisors across the country who can attest to the fact that fantasy football is now a common subject around the watercooler, in offices or during meetings.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



You can also comment using Facebook directly using he comment block below.





Econintersect Contributors


search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
A New Era of Central Banking?
Is Free Trade Harming the Economy?
News Blog
China Moves To Put North Korea In Its Place
Trucking Data Improves In January 2017
February 2017 Chemical Activity Barometer Has Strong Gain
Infographic Of The Day: 2017's Top New Year's Resolutions
Early Headlines: Asia Stocks And Dollar Up, Oil And Gold Steady, Nat Gas Plunges, Fed's Williams Says Low Rates Will Last, Steep UK Brexit Bill, Greek Poverty, China Stocks Look Up? And More
Climate of the Southwest
Did the Romans Create both Christianity and Islam?
The Psychology Behind Trump's Awkward Handshake ... And How To Beat Him At His Own Game
Most Lawsuits Against Trump Related To Travel Ban
Average Gasoline Prices for Week Ending 20 February 2017 Statistically Unchanged
Explainer: Trickle-down Economics
How The United States Is Governed
What We Read Today 21 February 2017
Investing Blog
The Real 401k Plan Manager 20 February 2017
Investing.com Technical Summary 21 February 2017
Opinion Blog
The Blame Game
Fascism Defined And Described By Oswald Mosley
Precious Metals Blog
Deflation And Gold: A Contrarian View
Live Markets
21Feb2017 Market Close: New Record Highs, Crude Slips Off Session Highs, US Dollar Settles Near Highs
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government





























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved