Seeing explosive growth in the last two years, Coinbase – a leading cryptocurrency platform worldwide and the largest cryto exchange in the US – is a company that’s been on the grind ever since 2020. As the American organization pointed out on a Monday blog post, “The bottom line: We work incredibly hard at Coinbase — for most of us, Coinbase is the most intense place we’ve ever worked. That intensity is only magnified by the current moment in crypto, and it often results in long days and long weeks.”
So, mindful of the issue, Coinbase recently declared that it is planning to provide one recharge week per quarter to its employees throughout 2022, and during this break period “nearly the entire company will shut down.” This is to allow all employees some down time without work piling up, the company stated. Chief People Officer L.J. Brock also elaborated on this matter on 11 Jan by saying, “Four weeks of coordinated recharge time might sound like a lot of time off for a company in hypergrowth, but given the intensity of our work throughout the year, we think this is the best way to ensure our pace is sustainable for the long term.”
Coinbase’s Plan Of Action This Year
Along with ‘recharge weeks’ and annual leave, Coinbase has encouraged employees to schedule vacations to coincide with them, The Block notes.
It should be noted that this isn’t the first time a week off has been scheduled in the incorporation either. After observing that a majority of the employees weren’t taking enough time off their work in 2020, the company arranged for a recharge week at the end of that year. This was followed by two recharge weeks scheduled in 2021, and Coinbase realized that subsequent verdict from employee surveys concluded – Recharge weeks work.
Such policies work in favor of increasing Coinbase’s long-term employee retention rates as well, especially during the trend of what people are calling “the Great Resignation,” wherein several workers in the US are quitting jobs on grounds of excessive work hours or unfavorable job conditions.