Corporate Offices Sit Empty For One-Third Of Working Hours, Costing Millions
Despite ‘back to office’ requirements, more than one-third of corporate office space is sitting empty, according to new data.Fortune 500 companies may be taking action on their ‘back to office’ requirements. But new data shows that huge chunks of office space are sitting empty – and costing millions.
A new study by Density, which analyzed thousands of workplaces used by Fortune 500 companies across 13 cities, found that a significant chunk of office space is sitting unused and empty for much of the workday.
According to the data, these spaces are sitting empty for more than a third of working hours.
“They’re spaces that are essentially paid for but nobody is using,” said Density CEO Andrew Farah.
Extrapolating that out for the 2,000 office spaces in the dataset, Farah says this adds up to more than $25 million a year that’s being spent on empty office space.
Based on the analysis, this includes a room worth $110,000 a year that was empty half the time, and another space worth $87,000 per year that’s empty 83% of the time.
Enter flexible workspace operators like Haibu Space which provide all of the office infrastructure and amenities which may may not be highly utilized by individual employees, but serve the greater Haibu Space community. If you are trying to create operating efficiencies, let us help you save money and allow you to focus on growing your business.
Read the article here
