Wasting time on Facebook could cost the UK economy over £25bn annually
Wasting time on Facebook could cost the UK economy over £25bn annually.
New research shows UK staff using Facebook and other social media accounts at work could cost the UK economy over £25bn annually.
- £25.8 Billion. The potential cost to the UK economy of wasting time on Facebook at work.
- £824. The potential cost to every employer for staff using Facebook at work.
- 35% of staff admit to spending over 1hour daily on Facebook at work.
As part of ongoing research into Britain’s workforce conducted by Officebroker.com, it has found that 35% of employee’s admit to spending more than an hour per day using the social networking site whilst at work and 10% admit to spending extra time on the loo in order to use Facebook. 27% admitted using Facebook during meetings.
www.officebroker.com surveyed over 1150 UK workers in permanent employment to reach its findings. It may come as no surprise to some but a whopping 72% of respondents said they check their Facebook whilst at work. Of those that admit wasting time at work 81% said they try to hide their Facebook usage from their boss and colleagues. Other common social media sites like Linkedin & Twitter featured less with only 12% and 8% admitting they check those sites whilst at work.
Chris Meredith, CEO of OfficeBroker.com said: “As the CEO of a busy company the amount of time I can visibly see being wasted as I walk around the office is a source of annoyance for me personally. I doubt I’m the only boss who thinks this way. Where is the business value? I’m not surprised so many companies choose to police internet usage so aggressively. Ok, so if you work in Marketing or Support you may have valid reasons for spending a lot of your work day with Facebook open, but apart from business critical tasks I’m slightly skeptical”
Chris also commented: “These survey results really got us thinking so we decided to look at deeper Facebook usage statistics to try see how big of a problem this really is. A recent study last month said using Facebook can cause depression? Well, the cost to employers of staff wasting business hours on it might just well tip some bosses over the edge”
On average we visit the Facebook app or website 13.8 times during the day, for two minutes and 22 seconds each time. Based on the current UK average salary and working week, combined with Facebook usage stats www.Officebroker.com estimate the annual cost of Facebook time wasting to a UK business to be £824 per employee or £25.8bn to the wider UK economy as based on ONS employment data*.
Officebroker.com have created a useful tool to allow both employers and employees to work out the cost of their social media time wasting at work: http://www.officebroker.com/wasting-time-machine
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