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March Madness to cost employers $13B in lost productivity

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Calculations by outplacement firm Challenger, Gray & Christmas estimate employers will lose $13.3 billion in productivity from this year's NCAA March Madness tournament.

The firm estimated employees would spend about six hours of work time on activities related to the tournament.

“The tournament is a perfect opportunity for colleagues to bond in the workplace. Any attempt to keep workers from the games would most likely result in real damage to employee morale, loyalty and engagement that would far outweigh any short-term benefit to productivity,” said Andrew Challenger, a vice president at the firm.

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