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article imageSocial media costing business owners billions each year

By Larry Seely     Jun 23, 2016 in Business
The internet has connected the world and used right it can help both socially and in business, but a new report shows that social media use has increased in the work force with over 75 percent of employees connecting with family and friends while working.
Over 30 percent of people are using the time to take a mental break from their job, not a bad idea if on their own time, but the report also shows that isn't the case. Phones, computers, and tablets have taken over our everyday lives and its now costing companies billions in lost wages.
Pew Research Center conducted the study and the numbers are mind boggling. In the United States alone, $650 billion is lost with workers spending time online.
The study showed that a brief two minutes on Facebook actually takes about 23 minutes of work time to get things back on track and the social media platform is to blame for 41 percent of lost time in the work force. These are staggering numbers that could lead to some big changes in the near future, including companies possibly banning personal phones and keeping better track of computer usage during normal working hours.
Not all is lost as the social media giants can also be used to increase productivity, but only if used correctly. Kenneth Olmstead, who authored the report, stated, “Social networking platforms provide workers new ways to learn job-related skills and new ways for them to socialize even when they are on the job. In effect, social media has made the once solid boundary between work and leisure a lot more permeable."
Twitter can work for business owners who want to get a quick message to their followers. Food merchants can advertise daily specials. Retail operators can use a quick sell to rid themselves of inventory, and like the old saying goes, a picture is worth a thousand words as companies and businesses of any size and reach a target audience with one quick post.
This study showed the good and bad of social media and the amount lost each year is undeniable, but changes in work habits and specialized advertising can help business owners offset this huge margin and make 2017 a more profitable year.
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