A place for nickel and diming

Facebook surfers are costing Australian companies billions of dollars a year in lost productivity.

According to internet security company SurfControl, there are more than 230,000 Australians already signed up on Facebook, and more than 100 new users sign up per hour, writes Reuters (via MediaBuyerPlanner).

Aussie workers cost employers up to $4 billion a year by keeping a close eye on their Facebook profile page. "People love being there and telling people what they are doing right now, what their thoughts are right at this second," SurfControl chairman Richard Cullen is quoted as saying.

Cullen said banning Facebook is not necessarily the best move for companies, as the site encourages socializing, which makes people happier in the workplace and more willing to work longer hours.

Seventy percent of companies in the UK, considered the Facebook capital of the world in terms of users, have banned access to the site. On the other hand, companies like Germany's Siemens, which boasts 6,430 employees on Facebook, hope to integrate the community in corporate relations.