What do you do when one of the most successful cryptocurrency exchanges is at the top of their game? You’d think hard chargers would still do what they were doing. However, this is not the case. In a sign of how much things have changed in the workforce, Coinbase Chief People Officer LJ Brock wrote in a company blog that the first remote company said, “This year, we’re trying four weeks to recharge (roughly one week every quarter), when the company shuts down. Almost entirely so we can all enjoy downtime without a backlog of work.”
The leadership recognizes that working at Coinbase can be “intensive and demanding,” as there is a need for time to get a “deliberate recharge.”
Brock wrote, “For most of us, Coinbase is the most intense place we have ever worked. This intensity is only amplified by the current moment in crypto, often resulting in long days and long weeks.” With all the hustle, he says, there is a need to “recover between sprints”.
It doesn’t often happen when leadership is open and transparent about what they do. Coinbase is self-aware, in that it has an “intensive” culture and operates in a very competitive space against strong competitors. The company needs a strong constitution to deal with the volatility and volatility of bitcoin and other digital currencies, along with concerns about potential future regulations that might affect the company.
Coinbase is straightforward about its environment, saying, “We are a winning team, not a family, and we have high expectations for performance and results. We have an intense work culture, and we are regularly pushed out of our comfort zones.” Focused on fulfilling its mission to increase economic freedom in the world, the cryptocurrency exchange encourages its team to set “uncomfortably ambitious” goals. “This is the only way we can stay ahead.”
Coinbase has a “cultural principle” of “acting like an owner.” Management expects that all employees will accept “100% responsibility” for achieving its mission. However, the company is reasonable and enables people to work in the way that is most convenient for them.
It is a crucial task, after spending all the hours, bearing all the stress and pressure of working in a leading organisation, that people take the time necessary to de-stress.
This is one of the reasons why Coinbase is taking a remote position first, which enables nearly all employees to choose whether they will work from an office, from home, or with a hybrid approach – whichever is best for them and their families. This policy has been a huge success, enabling Coinbase to recruit top talent from around the world and gain positive reviews from employees.
The company encourages its employees to take ownership of their well-being with a policy of “Flexible Leave (FTO) (in eligible countries), which means that most employees do not need to accumulate leave before using it or worry about having an annual leave limit.”
Brooke wrote: “Despite FTO policy for most employees, in 2020 we realized that many employees did not take enough time to recharge, either because they did not want to force their teammates to cover up or because they did not want to be late. in their work.” Management is realistic enough to know that this way of working is unsustainable without any respite.
It is clear that what Coinbase is doing is working. Over the past 12 months, it “tripled [its] The number of employees, which expanded into new markets, brought new crypto innovations to customers and became a public company. Brooke added, “We still feel like we’re just getting started. As we say in our culture document, “We are optimistic about the future and determined to get there.”