Watercooler tracking is the latest return-to-office metric

Business

From ThomasBarbara

March 7, 2023 | 4:24 p.m

Water coolers have reportedly emerged as a key tool for businesses to track office utilization during the ongoing push-to-office push.

Data on the amount of water poured by internet-connected models sold by Bevi has moved in tandem with office attendance figures being reported at companies across the country, Bloomberg reported last week, citing data from the Boston-based company company.

Some hedge funds and investors have expressed interest in examining the water cooler data to gain insights into office occupancy rates, Bevi CEO Sean Grundy told Bloomberg.

“The amount of water people drink is a good indicator of how much time they spend in the office,” Grundy said. “For us, it’s positive that it’s on the up.”

The average amount of water dispensed by Bevi machines in 2021 was 28.1% of pre-pandemic levels in 2019, the outlet reported. In the same year, office occupancy rates in 10 major US cities hit 30%, data compiled by Kastle Systems shows.

Water cooler usage increased to 43.8% in 2022, nearly matching the 41.6% utilization reported by Kastle. So far this year, the average monthly water output has exceeded 50.5%, slightly more than a 45.6% return rate.

According to the report, Bevi has equipped more than 5,000 US companies with water coolers.

The Post has reached out to Bevi for further comment.

A growing number of CEOs are seeking more conversations around the office water cooler and are urging employees to spend more time onsite.

Amazon and Disney are among companies that have recently increased their office presence requirements.

Disney CEO Bob Iger cited the “tremendous value of being with the people you work with” while recalling the company’s employees to at least four days a week starting this month.

Some workers have pushed back efforts to track attendance through badges or other enforcement methods.

At Amazon, employees recently urged CEO Andy Jassy to “immediately cancel” his plan to return to the office.

In the US, office occupancy rates are hovering between 40% and 60% of their pre-pandemic levels — numbers that fall far short of return-to-office figures in Europe and Asia, according to a Wall Street Journal report.