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Study: March Madness Costing Companies Millions In Lost Wages
Eight NCAA basketball teams will tip off for March Madness in Austin. And whether or not you're going to the game, you may be one of those who gets caught up in the hype while at work.
Challenger, Gray & Christmas Inc. estimates that the almost month-long tournament will cost American companies $134 million in "lost wages" as an estimated three million workers spend between one to three hours watching hoops.
However, the online advertising company Yodle is taking a different approach to the madness.
Co-founder Ben Rubenstein is using the tournament as a way to get people to work harder.
"Every team competes against each other to get to the finals. And the final teams get $100 for every person on the team. And the manager wins bragging rights across the company," said Rubenstein.
When employees are not busy making sales, Yodle allows them to play basketball or check the scores on the dozens of TV's around the office.
"Syracuse Orange man all day forever. They are definitely going to go very far," said Senior Sales Training Manager Joe Teitelman.
Sales Manager David Milo said, "Right now on my brackets I have Louisville going all the way to take the championship."
Tickets are on sale at the Frank Erwin Center. Four games will be played Friday and two games Sunday. As of Monday there are 1,300 tickets available ranging from $180-$225.
By Christie Post