I've never really been a fantasy football zealot nor have I ever joined a fantasy football league. However, according to foxbusiness.com, Fantasy Football will now generate over 1 billion dollars in profits through cable deals, draft guides, advertisements, buy in fees, and various other endorsements. While the talk at the water cooler can be a blast between office mates, Fantasy Football has now turned into a serious business all on its own. And who does it really end up costing? Not the people who put in $200 for a fun league to play during the course of the year. It really ends up costing the business owners countless hours of lost productivity from the their employees.
It is estimated now that over 26,000,000 people across America spend more than one hour per week managing their fantasy football roster at work. (source: www.wrex.com). As small business owners, we have to spend money and time designing our policy handbooks. Over the years, there has been great focus within these guides to police activities at work that can cost a business owner money. This means making sure your polices are in place so you don't have people send or search pornographic sites at work, send jokes or you tubes that could be lewd, or in general blocking sites that would just be deemed not be work related. Now I have worry about one of my employees doing a Victor Cruz dance in the end zone of their cube when he catches 10 passes and 2 touchdowns on a Sunday?
So, the question as a small business owner is should you toss out a penalty flag for your employees using company time to play and manage their Fantasy Football league? Let's be honest, it isn't like most of your employees are working around the clock anyway. Somebody is either answering a personal text on their mobile phone, shopping on Amazon, or figuring out where they are going to take their next vacation all on company time. Certainly you want to make sure that it is clear to employees that gambling is not acceptable in any way, shape, or form within the office environment, but everything that creates a little fun and energy in moderation can't be all that bad for your office. Remember that most employees who leave a company generally cite management and the work environment as some of the top reasons that they leave companies over salary alone.
If I was drafting for fantasy football, I most certainly wouldn't draft Tim Tebow or Michael Vick this year. I think that is guaranteed loss of money in your Fantasy Football League. Tebow may be a winner on the field, but not in the statistics category when you go head to head against other quarterbacks. Just like people had to call an audible when Peyton Manning couldn't play for a year, one shot to the knee and you could lose Vick for the entire season. I guess as a small business owner, I'd rather spend my time drafting a fantasy team of talented players for my business who know week in and week out how to get the job done. If you pick the right team in your office, you never need to worry about what side shows like Fantasy Football will distract them from doing their job. The best talent will always know how to score a touchdown and you can take that to the bank.
Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®
Co-CEO and Founder of oXYGen Financial, Inc - The Leaders in Gen X & Y Financial Advice and Services
Visit www.oXYGenFinancial.net to request a consultation on how to make smart money moves for your future.
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