CEOs, business owners and managers: Did you notice a lot of strange and sudden colds and emergencies yesterday between the hours of 11 a.m. and 2 p.m.? 

Yes, Iowa State University basketball fans were looking for any excuse to leave the office for a few hours yesterday to watch their team's game against Oklahoma in the Big 12 Men's Basketball Championship tournament. And next week, college basketball fans everywhere will look for excuses to get out of the office for the NCAA Tournament, or follow games on their computer at work.

Sound like your company could lose money? A survey from Office Team, a staffing service company owned by Robert Half International, says that some managers feel that March Madness can be a positive for the work environment.

One in five of the 1,000 managers surveyed said that March Madness activities in the workplace, such as watching games or participating in office pools that don't involve money, have a positive impact on employee morale.

Perhaps more telling, 75 percent of managers don't feel that March Madness activities have any impact - positive or negative - on either employee morale or productivity, and 16 percent say that they even have a positive impact on productivity.

"It's often better for managers to acknowledge the appeal of events like March Madness and provide opportunities for their staff to enjoy the festivities rather than ignore them," said OfficeTeam executive director Robert Hosking in a company news release.

For more information on the survey or tips on how companies can celebrate March Madness while keeping employees productive, click here.