Losing Business Due to Social Networking Sites

Last month an employment law firm, Peninsula, found that British business may be losing $260 million each DAY from employees visiting social networking web sites such as Facebook and Myspace. The same study found that British workers spend about 233 million hours per month on such social networking sites. A recent article by the Los Angeles Times explained that a recent study of American businesses came to the conclusion that the average American worker spends approximately two hours every day "wasting time". This article claims that the most popular method for wasting time is by surfing the Internet and sending personal email. This was followed by socializing with co-workers, conducting personal business and spacing out. It is believed that this "wasting time" may be costing employers $759 billion a year in lost productivity.
As you are probably aware, many people have thought and explained about the positives and negatives of the current technology available to us. This can surely be regarded as a negative, for performance at many businesses is being sacrificed. Therefore it may be wise to consider banning such sites from your company's network in order to help stop such "slacking off".