Coinbase is the largest crypto exchange in the US. They have seen exponential growth in the past 1-2 years, and this has put a lot of pressure on the company’s workforce. While the growth has been good for the company, it isn’t sustainable for employees to work non-stop. And this is the reason that Coinbase will shut down for 1 week every quarter in 2022. This will help rejuvenate the workers and bring them back fully recharged, ready to work with full dedication and productivity.
Coinbase’s plans in 2022
The company Chief people officer talked about their plans to shut down the company for 4 separate weeks throughout the year. This is one of their experiments to see if the employees perform better after such breaks. In typical companies, the working hours are limited to 40-hours a week with limited overtime. But in the case of Coinbase, the workload is so much that employees often need to put in extra hours. And this can result in burn out which is neither good for them nor the company.
The company officials noticed that employees weren’t taking much time off work, and therefore they had applied this same policy in 2020 and 2021 as well. Those years it was for 1 week and 2 weeks respectively. And in a customer survey, they found that employees also think this works for them. So, on a positive note, Coinbase is taking it one step further but implementing the same for 4 weeks in 2022.
Why is the company taking this step?
One of the main reasons for this is the current uprising of US employees against job conditions that aren’t suitable for work. Coinbase also fears that if such a thing happens with them, the chance of falling behind as a company is really high. At the same time, they also understand that to sustain growth in the long term and keep productivity high, such breaks are important.
Coinbase is also in favor of working from home and will continue to offer the same option even after COVID-19 and the quarantine situation ends. It is good to see that the company is taking a step to help the employees and care about them.
Do you think this is the right step for such a fast-growing company? And will the user experience get hampered when Coinbase will shut down? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.