Coinbase to offer staff four weeklong ‘recharge’ breaks during 2022

The crypto exchange considers itself to be in a period of ‘hypergrowth’

Coinbase logo on an LED screen while two silhouetted people work in an office environment                                 
Roughly every quarter, Coinbase will give employees one week off work – Photo: Alamy
                                

Coinbase, the largest cryptocurrency exchange in the US, is giving one week off, or a “recharge week”, to its employees each quarter in 2022.

Coinbase chief people officer L.J. Brock made the announcement in a blog post on the 10 January.

Brock explained that for many employees, Coinbase is the “most intense” place they have ever worked. He went on to say that both weeks and days are long while working at the company.

Due to how demanding it can be to work at the crypto exchange, Coinbase wished to find time for employees to recover between work “sprints”.

During these “recharge weeks” almost the entire company will shut down. Certain teams that are deemed “critical” and necessary, such as customer service and security, will have scheduled alternate recharge weeks.

The company considers itself to be in a period of “hypergrowth”, so it feels offering this time off is “suitable for the long term”.

Coinbase ‘laser-focused’ on achieving goals

As the crypto company explains, there is a “massive opportunity” in front of them, so Coinbase is upfront about its work culture to employees.

In its culture document, it states: “We have an intense work culture, and are regularly pushed out of our comfort zones.”

The crypto exchange does not promise nine to five workdays or 40-hour weeks.

Coinbase states it is “laser-focused” on achieving its goals, which is to increase economic freedom globally. The company feels that this doable by its teams setting “uncomfortably ambitious” targets.  

Flexible working

Coinbase also offers its staff, flexible working or, as the crypto company terms it, flexible time off (FTO).

Even with the FTO policy being offered to employees, Coinbase realised in 2020 that workers were not taking time off to “recharge”, as they did not want to add to their colleagues’ workloads, or they were afraid they would fall behind their work.

Due to this, Coinbase originally offered its workers one recharge week in 2020 and two in 2021.

The company found through an internal survey that 52% of staff feel recharge days was the main reason that helped them to recover and rest in 2021.

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