4 reasons to stay away from Coinbase

LJ Brock, Chief People Officer

I joined Coinbase in March 2019, and I quickly realized that in order to get things done, you usually have to A. In the Coinbase-conference room, in the hallway conversation, at the lunch table কাজ work, chat and collaborate with your colleagues. Of course, the staff has worked from home here and there, but doing so always carries the risk of keeping you a little out of the loop.

Of course, Kovid has changed all that. But while many companies came to this unprecedented work-from-home era as a temporary disruption to their normal way of doing business, we decided in May 2020 – just a few months after the epidemic – that Coinbase would become a remote-first company. Now, more than a year later, we are more certain than ever: we are not back to the way we used to be.

We are often asked-how did you move to Remote-First while doubling your headcount and becoming a public company? With this question in mind, I wanted to share our most important lessons of the last 15 months. (Hint: What is the culture of the company.)

First, some basic rules: At Coinbase, “remote-first” means that once we return to personal work safely, about 95% of our employees will still have the option to work from home, in the office or from the mix – whatever works best for them. .

Just as important, “Remote-First” at Coinbase means that employee experience should be the same for everyone, no matter where you are or how often you work (or don’t) work from the office. While everyone will have the option of working in an office, doing so will not benefit your career at Coinbase in any way – at Coinbase, career progress is determined by performance, not by facetime with colleagues.

With this as our baseline, I think the following four lessons have gone so far as to explain to us why distance-first transition has been so good, and why we are so excited to be remote-first.

1. We now have access to top talent around the world. Prior to Covid, most of our U.S.-based recruits focused on people who lived in the Bay Area, or were willing to move there and endure daily commute to the city of San Francisco. We severely limited this talent pool from which we could get out and that meant we were often in direct competition with peer employers for the same candidates.

Today, those geographical restrictions are gone. We can now focus our recruitments in areas where there are many candidates with deep experience in a particular field or specialty. We have become a top destination for those who are not overwhelmed by being forced to return to office by their current employer.

As a result, our workforce has become more geographically diverse. As of March 2020, our employees% employees were based in the Bay Area. Today, only 30% of our employees live there, although our total headcount has more than doubled in that time. (Frankly, we have some common sense rules about where employees can stay, both to avoid the effects of negative taxes and to make sure the parties don’t spread over the area too long.)

This geographical diversity serves the mission of increasing economic freedom in our world better. The more geographically we distribute, the more we all bring different perspectives to the table.

2. A centralized employee does not make sense for a decentralized company. In the months following our transition to Remote-First, we realized that our new Remote-First mentality was also consistent with the broader principles of crypto. Earlier this year, we took our relocation one step further, making it clear that Coinbase is not headquartered in any other city. After all, if crypto is centralized in the benefits of decentralization, why do we have to work from a limited number of employees? We’ve learned that Remote-First enables our employees to move forward based on their performance and their performance, not their position.

3. A little flexibility goes a long way. We know from internal surveys that our employees appreciate being able to work remotely পে in our most recent survey, 94% of employees say that remote benefits outweigh disadvantages, or that advantages and disadvantages balance each other. Today, about half of our employees (%%) are “completely distant” from %% just before the epidemic, when our role was minimal.

But those data points only tell part of the story. I know a number of employees who have moved closer to family, or moved to another city so that others who are important to them can have career or educational opportunities, or move to a place where they always dream of survival, or just trade their commute. More time with their families, without everyone leaving their jobs at Coinbase – and without us unnecessarily losing their talents and institutional knowledge.

I am one of the group-remote প্রথম the first of our shifts to enable me and my family to relocate to North Carolina, a place we have always considered home, as we originally planned.

4. You need to set up your culture to go remote. Long before we moved to the remote, we established cultural rules and decision-making structures that became even more important when we were not together in the office.

For example, because we had several offices around the world before the epidemic, there was a norm for sharing detailed agendas and background documents before our meetings, and meeting discussions and decisions were captured in writing. We also relied on two simple document templates একটি one for complex decisions and the other for light-weight decisions-to make decision-making more efficient and reduce mobility across the company.

This emphasis was on making written tracking decisions before we became remote-first, but it was critical after we switched-and since these rules were already in place, our internal workflow was not derailed.

The value of another company that works for our benefit while efficient execution when going remote. Since our inception, we have progressed and surpassed the challenge of creating a hypergrowth company in a new, volatile industry. Transfer to Remote-First when doubling our headcount and becoming a public company? However, overcoming our commitment to progress is another challenge for us.

Final Thought: Remote-First is not right for every company. When colleagues from other companies who are considering moving to Remote-First (or something like that) approached me, I asked each of them the same question: Can your company’s culture change? Some cultures may, but many may not, and that’s okay আমি I don’t think Remote-First is right for every company. Either way, the first step is to make an honest assessment of whether the company’s culture can handle the change.

Fortunately, our culture took precedence over remote-first. Fifteen months later, we are more excited than ever about the remote-first opportunities we have created for ourselves, both in the company and in the individual.

If you feel like the kind of work environment you’re looking for, check out our open roles here.

This part originally appeared Protocol.

4 Reasons to Have a Coinbase Remote Originally published in The Coinbase blog on Medium, where people continue the conversation by highlighting and responding to the story.

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