Selection Sunday officially kicked off March Madness last night. Over 40 million Americans participate by creating brackets, but according to an outplacement firm, the American obsession could cost employers anywhere between $615 and $2.1 billion in lost wages. Many of the games are during work hours, a fact that the Challenger, Gray & Christmas firm believes will result in employers paying wages to distracted and unproductive workers. Despite the projected costs, the firm believes that employers should not fight March Madness because doing so could have severe implications on employee morale and loyalty. The firm believes workplace brackets "foster camaraderie".
See "America's March Madness Obsession May Cost Employers up to $2.1 Billion", Laura Berman, The Street, March 13, 2017