Wasted Employee Time Costs $134 Billion, Bolt Says
FARMINGTON CT – Wasted employee time – the hours that workers spend on tasks not related to their jobs – costs employers $134 billion annually in payroll losses, according to a new infographic released Tuesday (Nov. 27, 2012) by Connecticut-based Bolt Insurance Agency.
Casual observers might assume employees are killing time on the Internet, but they’d be wrong, Bolt’s infographic noted. Instead:
- Meetings account for 47 percent of the wasted time; office politics, 43 percent, and annoying co-workers, 36 percent;
- $1.1 billion per week is lost because of time spent by employees on Fantasy Football; and
- Only 1 in 5 kill time at work because they are underpaid. Most say it’s because they lack enough responsibility.
Infographic from Bolt Insurance