Employees of the cryptocurrency exchange will take four recharge weeks in addition to their formal vacation. The measure seeks to balance the intense rhythm of work.
Coinbase, the leading digital currency exchange in the United States, is introducing a new model of annual rest for its employees to balance its work environment. Media The Block reviewed first.
Coinbase Director of Personnel L. J. Brock released a blog post that addresses what it is like to work for one of the most prominent cryptocurrency exchanges.
The executive admitted that the company has an intense work culture that frequently pushes its employees out of their comfort zones. As a result, working hours can extend from 40 hours a week and may not run parallel with standard office hours from 9 am to 5 pm.
The company, which applies a flexible policy on remote work, often encourages its employees to set uncomfortably ambitious goals. The pace of work is justified as it allows Coinbase to meet its annual targets and stay ahead of the curve, the company said. However, Brock admitted that the environment could be exhausting and not sustainable.
Four Weeks off Due to Intense Work
The chief of staff reported that Coinbase is opting to test a four-week recharge layoff model per year. The experiment would allow employees to take about one week off per quarter in 2022 so everyone can enjoy the break without accumulating work.
The recharge weeks will be in addition to the annual vacation, although the company has encouraged its employees to schedule the vacation to coincide with the rest weeks.
Coinbase said it is concerned that its employees weren’t taking enough time off because they didn’t want to be left behind with their chores or carry extra weight on their colleagues.
Subsequent surveys confirmed that exchange workers supported the rest model to recharge. The blog post highlights that 52% of employees expressed that recharging days and weeks were the main tools that helped them rest and recover in 2021.
Labor Benefits to Maintain Human Talent
The company assured that the move would ensure the sustainable growth of Coinbase in the long term. He also added that during these recharge periods, he will still have teams with critical responsibilities 24/7, such as customer service and security, scheduled alternate recharge weeks.
On the other hand, while they assured that the intense workdays are not “sustainable” in the long term, Coinbase does not plan to maintain the four-week recharge model beyond 2022. In the entry, Brock said it would be a matter that the company will evaluate as they go and also said they consider it the correct approach.
Other technology companies are also looking to offer various benefits in a fight to maintain human talent and ensure long-term success. For example, the email platform reported that there would be a reduction on its weekly workday to four days after conducting an experiment that showed improved productivity.
On the other hand, some reports have revealed that tech giant Apple has been offering rare bonuses of up to $ 180,000 as a way to retain engineers and other tech experts. The measure would prevent the hunt for talent from companies like Meta (formerly Facebook).
By: Jenson Nuñez
