The cost of waiting skyrockets
For the folks on the Eastern seaboard still waiting for utility crews to fix their power lines after the recent freak snow storm — and for each and every one of us who has waited at home for a crew to show up — here is a number to raise your pulse: $37.7 billion.
That’s the estimated cost of waiting for in-home appointments. You know, the cable guy, the contractor, etc. TOA Technologies, which does mobile workforce management software, commissioned the “Cost of Waiting” survey (PDF).
For people earning $50,000 a year or less, waiting for just one hour typically costs $13. Typical wait: 4.3 hours. So, a typical wait will set you back about $56 bucks. Worse yet, half of everyone who waited was burning up a sick or vacation day.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.