Claiming that social media is the latest scapegoat in a long line of studies which indicate that personal use of online sites during work wastes company time, Stan Schroeder of Mashable.com recently reported the results of a survey conducted by Morse, an IT services group. After questioning 1,460 office workers, Morse concluded that employee use of Twitter and other social networking sites costs UK firms 1.38 billion pounds every year (approximately $2.25 billion US).
According to Philip Wicks of Morse, “the use of these sites is clearly becoming a productivity black hole.” The surveyed employees spent an average of 40 minutes every week on social networking sites.
Mr. Schroeder's article somewhat disparagingly refers to similar studies reporting that surfing social media sites creates huge losses in worker productivity. One such study revealed that Facebook costs UK firms more than 130 million pounds per day, in the form of 233 million work-hours frittered away each month. A similar study concluded that employee web surfing costs US corporations approximately $63 billion every year. Schroeder takes the perspective that employees wasted time by chatting around water coolers long before Facebook and Twitter existed, but the evidence that social media use costs businesses large amounts of money mounts with every new study.
Source: Morse Social Media Survey