The largest American bitcoin exchange Coinbase will test providing employees with four ‘Recharge Weeks’ in 2022. The move is intended to offset the ‘intense work environment’, said.
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“For most of us, Coinbase is the most stressful place we’ve ever worked. At present, in the crypto industry this intensity is only increasing, which often leads to long days and weeks,” wrote Chief People Officer El Jay Brock in a blog post.
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The experiment will allow employees in 2022 to ‘recharge’ for about a week roughly once per quarter. During this time the company will essentially shut down, with only staff in 24/7 operations remaining to keep essential services running.
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Theoretically, this time should be in addition to vacations. However, Brock noted that the company encourages employees to plan to stack time off.
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According to him, the move is aimed at ensuring sustainable growth momentum over the long term.
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Brock stressed that the company uses a flexible approach to organizing work, allowing office, remote or hybrid arrangements. Coinbase also provides the option to take vacations throughout the year, but for some reasons employees do not take advantage of it, he added.
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The company had already run a ‘Recharge Week’ in 2020 and two at the end of 2021. A survey showed that 52% of employees said this measure allowed them to rest fully, said the chief human resources officer.
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In April 2021 Coinbase went public on Nasdaq via a direct listing. By year-end, the company’s shares had risen by less than 1%.