Coinbase CEO's suggestion: How to find a balance between work and life?

CN
1 year ago

I hope everyone can find a work rhythm that doesn't leave them utterly exhausted while working hard.

Author: Brian Armstrong

Translation: Shen Chao TechFlow

I sent a notice to Coinbase employees yesterday, and I'm sharing it now in hopes that it will help others as well:

Hello everyone,

In our employee satisfaction survey, rest and recharge scored the lowest, so I want to share how I find my balance. The work pace at Coinbase is intense, and that’s something we deliberately cultivate. I want to be part of a championship team, working alongside those who are willing to invest a lot of time and energy. Our work is very important, and successful employees here can make a bigger impact than elsewhere, so they are willing to put in more effort.

At the same time, I realize we need to take breaks to recharge for the next phase. The secret to my long-term work at Coinbase is taking a week off every quarter, exercising regularly, and setting aside time each day to relax.

Coinbase's corporate culture and remote-first work model emphasize freedom and flexibility. You can choose where to live, usually where to work, and take time off when it suits you. This model has many advantages, but it also presents challenges, such as a lack of clear boundaries between work and life; meetings may be scheduled at irregular times, Slack communication happens around the clock, and it’s easy to get caught up in work even while on vacation, feeling like there’s no real separation. Therefore, setting boundaries that suit your life is everyone's responsibility. What works for me may work for you, but it may also be different. You have the right to set your own boundaries while ensuring that Coinbase continues to operate smoothly in your absence.

Here are some suggestions on how to manage your workload more sustainably and avoid burnout:

  1. Make space for deep work: Organize your schedule to allow time for real work. Whether you are an intern or a vice president, we all need time for deep thinking and work.

  2. Reduce or eliminate low-value work: Reflect on the work we do, eliminate low-value parts, simplify processes, and automate where possible. Strive to minimize the presence of inefficient work.

  3. Set aside personal time each day: Coinbase operates 7 days a week, 24 hours a day. Work never stops, and there are always more tasks to complete. Find time each day to relax. Whether it’s going to the gym, reading before bed, or spending time with family and friends, it’s okay to step away from your desk to do something you enjoy.

  4. Take breaks: We all need to take breaks occasionally, even when it feels impossible to fully set aside our tasks. To better plan time off, we have established a comprehensive set of guidelines, which I will share and add to Confluence.

Ultimately, we hope everyone can find a work rhythm that doesn’t leave them utterly exhausted while working hard. I’m sending this notice to let company employees know that you can take time off and set your own work boundaries. Just follow the guidelines below to ensure you can be reached if necessary. The balance you find at a remote-working company like Coinbase may differ from that at other companies.

Thank you, Brian

Coinbase Leave Guidelines

Based on our sprint and recharge culture, most employees take about 4 weeks off at Coinbase each year (including recharge weeks). However, any leave arrangements need to be coordinated with team and business needs. To make the most of recharge or other time off, please follow these four simple steps:

  1. Confirm leave dates with your manager: When you want to take time off, it may not always be appropriate, as other team members may also be on leave, or there may be important work to complete. Our top priority is to ensure work runs smoothly, so managers must approve all leave before confirming.
  • Leave requests for each workday must be submitted 1 week in advance (for example, a 1-week leave must be requested 5 weeks in advance). Leave of 2 weeks or longer, including recharge weeks, requires approval from a vice president.

  • Do not book non-refundable travel before obtaining the necessary approvals.

  1. Ensure colleagues are aware and prepared to cover your work: You are responsible for informing and providing information to ensure everyone is prepared for your absence.
  • Create a handover plan to ensure each colleague covering for you understands their responsibilities.

  • Share your handover plan in advance with your manager, team, and cross-functional partners.

  • Mark your out-of-office dates on the calendar and invite colleagues to view it so they can stay informed.

  • Set your status on Slack to indicate your out-of-office dates and include a link to your handover plan.

  1. Check in regularly and stay reachable in emergencies: Many people check in even during recharge or vacation periods to ensure work is running smoothly. You should also keep your phone available in case of emergencies that the handover plan cannot cover.
  • Set a “check-in” frequency that works for you and your team (the higher the position, the more frequent the check-ins); this may not apply to certain geographic locations or role types, such as hourly or shift workers.

  • Add emergency contact information (like your phone number) to your Slack profile and handover plan. We expect your colleagues to call you in emergencies.

  • Bring your laptop with you (if allowed in the country you are visiting).

  1. Your organization may differ: Different countries, teams, organizations, or roles may have additional or unique recharge or leave guidelines. Your manager or leader can help you understand these guidelines. If you have any concerns, you can also contact the personnel team or your HRBP.

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