Coinbase CEO: How to balance work and life in a 24/7 industry

Original title: A note from Brian Armstrong to employees on finding a sustainable balance working at Coinbase

Original author: Brian Armstrong, Coinbase CEO

Original translation: TechFlow

I sent a note to Coinbase employees yesterday, and now I share it, hoping that it will help others:

Hi everyone,

In our employee satisfaction survey, rest and recharge were the lowest-scoring areas, so I wanted to share with you how I find my own balance. The work pace at Coinbase is intense, and this is intentional. Because I want to be part of a champion team and work with people who are willing to invest a lot of time and energy. Our work is very important, and successful employees can make a greater impact here than elsewhere, so they are willing to work harder.

At the same time, I also realize that we need to rest in order to re-energize for the next stage. My secret to staying long at Coinbase is taking a week off every quarter, exercising regularly, and setting aside time to relax every day.

Coinbase’s culture and remote-first work model emphasizes freedom and flexibility. You choose where you live, often where you work, and take vacations when it works for you. There are many advantages to this model, but there are also some challenges, such as a lack of clear work-life boundaries; meetings may be scheduled at odd times, Slack communications are ongoing 24/7, and it’s easy to get caught up in work even when you’re on vacation and feel like there’s no real separation. Therefore, it’s each person’s responsibility to set boundaries that work for their own lives. What works for me may work for you, but it may not work for you either. You have the right to set your own boundaries, but you also need to make sure Coinbase can function properly in your absence.

Here are some suggestions on how to manage your workload and avoid burnout in a more sustainable way:

1. Make room for deep work:Schedule your schedule to make time for real work. Whether you are an intern or a vice president, we all need time to think and work deeply.

2. Reduce or eliminate low-value work:Reflect on the work we do, remove low-value parts, simplify processes, and automate where possible. Minimize the existence of inefficient work.

3. Take time for yourself every day:Coinbase operates 24/7. Work never stops and there are always more tasks to accomplish. Find time to relax every day. 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 and do something you enjoy.

4. Take time off:We all need to take a break from work occasionally, even if it feels impossible to completely step away from what we're doing. To better plan for time off, we've developed a comprehensive set of guidelines that we're sharing below and adding to Confluence.

Ultimately, we want everyone to work hard but find a rhythm that doesn't burn them out. I'm sending this message to let everyone know that you can take time off and set your own work boundaries. Just follow the guidelines below to make sure you're reachable when necessary. At a remote company like Coinbase, the balance you find may be different than at other companies.

Thanks, Brian

Coinbase Vacation Guidelines

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

1. Confirm vacation dates with your manager:It may not always be the right time for you to take vacation because other team members may also be on vacation or there is important work that needs to be completed. Our priority is to ensure that work is running smoothly, so managers must approve all vacations before confirming them.

· Request 1 week in advance for each workday of vacation (e.g., 5 weeks in advance for a 1-week vacation). 2 consecutive weeks or more of vacation, including a recharge week, require approval from a VP.

· Do not book non-refundable travel before getting the relevant approvals.

2. Make sure colleagues are aware and ready to take over your work:You are responsible for informing and providing information so that everyone is prepared for your leave.

· Create a transition plan to ensure that each colleague who will take over your work is clear about their responsibilities.

· Share your transition plan with your manager, team, and cross-functional partners in advance.

· Mark your out-of-office dates on your calendar and invite colleagues to check so they’re aware.

· Set a status on Slack with the out-of-office dates and a link to your handover plan.

3. Check in regularly and stay connected in case of emergencies:Many people check in even when they’re charging or on vacation to make sure things are going smoothly. You should also keep your phone available in case something unexpected happens that your handover plan doesn’t cover.

· Set a “check-in” frequency that works for you and your team (the higher your position, the more frequent you should check in); this may not work for certain geographies or role types, such as hourly or shift workers.

· Add emergency contacts (like your mobile number) to your Slack profile and handover plan. We expect your colleagues to call you in an emergency.

· Bring your laptop with you (if the country you’re visiting allows this).

4. Your organization may be different:Different countries, teams, organizations, or roles may have additional or unique charging or time off norms. Your manager or leader can help you understand these norms. You can also reach out to the people team or your HRBP if you have any concerns.

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