Saturday, December 2, 2023

In 2022, Coinbase announced that ‘almost the entire firm will shut down’ for four weeks to allow employees to recharge.

Coinbase, the major crypto exchange, will allow its employees to remain off work for a week every quarter of 2022. The purpose is to help them recharge after days and weeks of works. Most of the company will remain closed during those weeks. It is an experiment to allow workers to recover from intense workloads. Chief people officer of Coinbase, L.J. Brock, provided this information in a blog post published on Monday.

Employees Not Getting Sufficient Rest

Coinbase has taken this decision after noticing in 2020 that many of its employees do not take time off from work to recover, recharge and recuperate. These employees were avoiding going off the work to avoid putting more workload on their teammates or falling behind on the works. Brock informs that this is not sustainable, so the company experimented with this one-week off solution in the last quarter of 2020 and two separate weeks of closures in 2021. The employee surveys indicated these recharge weeks worked for everyone.

Necessitated by the Fierce Demand for Crypto Talents

Companies operating in the blockchain and crypto world have faced difficulty in attracting qualified employees in 2021. They are offering unique incentives like crypto payments to attract employees with specialization in the crypto field. The demand for these employees is increasing as the popularity of crypto products and services grows exponentially across the world. Most of the US workers have been complaining about highly demanding job conditions. There have been lots of resignations and career change reports. This has prompted many employers to offer more favorable job conditions and incentives.

Coinbase had allowed its staff to work remotely when the pandemic started. It will continue with this policy change until the quarantine restrictions are over. The company has plans to become a completely remote work organization in the future.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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