Published on: Friday, March 18, 2011
March Madness Doesn’t Foul Out Bracket Busting Executives
While organizations should expect an estimated 45 percent of their workforce to participate in March Madness office pools and as many as 8.4 million hours watching the tournament unfold during working hours, senior executives won't be draining productivity, neglecting responsibilities or missing deadlines.
Senior-level corporate leaders have become accustomed, particularly as they've had to stretch resources during the recession, to blurring the distinction between home time and work time. In ExecuNet's forthcoming 19th annual Executive Job Market Intelligence Report
, "work/life balance" dropped out of the top five reasons executives stay with their employers and slipped a notch for the factors in accepting a new job.
It's pointless to strive for “work/life balance” when we're now dealing with complete work/life integration. Technology has enabled workers more freedom to perform their jobs from anywhere, but the downside is there is no disconnect anymore.
Executives have felt pressure this past year to stabilize their organizations while always keeping an eye on the marketplace for new opportunities. As a result, the line between work and life was sacrificed. Executives reported they are losing sleep over economic uncertainty and the consistent ability to execute their business strategy. Additionally, the percentage of employed CEOs who updated their résumés and online profiles increased in 2011. The time and money devoted to March Madness is a small investment for companies that have survived, retained top leadership and can now look forward and focus on growth.
ExecuNet's research analysts estimate nearly one million of America's senior-level corporate leaders will participate in office college basketball pools, resulting in roughly $30.3 million for every 20 minutes of time in team selections or $151.5 million over five days. Further, 8.4 million hours of watching March Madness games during office hours equals nearly $808 million in executive salary.