March Madness: How to deal with office betting pools — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

March Madness: How to deal with office betting pools

Get PDF file

by on
in FMLA Guidelines,HR Management,Management Training,Performance Reviews,Small Business Tax Deduction Strategies

Issue: The NCAA basketball tournament has turned many a workplace into mini-Las Vegas, as employees feverishly study the stats that may mean victory in the office betting pool.

Risk: Betting pools can sap productivity, but the real danger comes from compulsive gamblers on your payroll.

Action: Don't crack down on minor pools, but write a policy on habitual gambling at work.

A workplace betting pool is like that five-mile-per-hour buffer above the speed limit: While it's technically illegal, it rarely draws the attention of law-enforcement entities.

Your organization probably won't face legal trouble for tolerating small betting pools among employees, but it could face other problems, including declining productivity. The HR consulting firm Challenger, Gray & Christmas estimates lost productivity during the 2011 tournament, which begins this week, will top $1 billion.

One management guru even sees an upside to NCAA tournament...(register to read more)

To read the rest of this article you must first register with your email address.

Email Address:

Leave a Comment


Previous post:

Next post: