Office Timesharing On The Rise As Companies Lock In Hybrid Schedules
As more companies solidify their hybrid work schedules, it is becoming clear that multiple days per week, their offices are going unused — which opens up possibilities.
San Francisco-based startup Codi is among the first to try to capitalize on the gaps opened up by hybrid work by allowing multiple companies to occupy the same furnished offices it manages on alternating days, the Wall Street Journal reports.
Codi manages 50 furnished private offices that include desks, huddle rooms, whiteboards and snacks, functioning similarly to timeshare rentals in the hospitality industry. Some 35% of Codi’s customers lease an office for fewer than five days a week, CEO Christelle Rohaut told the WSJ.
The setup works best with small firms and startups that don't work with sensitive information or need large physical equipment. Most workers just show up with their laptops and clear out the space entirely by the end of the day.
The business model comes as 90% of companies surveyed by Resume Builder plan on requiring employees to report back to an office at least part of the week in 2023. Many companies are instituting "anchor days" when most workers must show up — at Uber, those days will be Tuesday and Thursday, Reuters reported.
Codi was founded in 2018 and in September attracted $16M in Series A investment funding, led by Andreessen Horowitz, to help its growth, Commercial Observer reported.
