Social Networking Costs Businesses £1.4bn
26/10/2009
A survey undertaken by information technology services provider, Morse, has shown that social networking sites, like Twitter and Facebook, are costing businesses around £1.4bn a year in lost productivity.
The survey, which took into account the habits of 1,460 workers, showed that 57% of those surveyed admitted to using the social networking sites during office hours. Those who admitted to 'tweeting' or using Facebook spent, on average, around 40 minutes a week on the sites. Over the course of the year this would amount to a full week lost in productivity.
Morse commented that the estimated £1.4bn cost to businesses was likely to be shy of the actual cost, with many workers underestimating time spent on social networking sites as well as those workers who failed to own up to using the sites at work.
Source: Financial Times
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