Three years into the era of remote work, accelerated by a pandemic, the tension between companies wanting employees back in the office and employees seeking the flexibility of remote work has reached a tipping point.
With giants like Amazon, Apple, and IBM leaning toward a hybrid schedule and Wall Street firms like Goldman Sachs insisting on a full five-day office week, where do crypto companies stand?
Back to the Office?
The traditional financial market seems relatively united. Goldman Sachs has set a strong precedent by demanding full in-office attendance.
Jamie Dimon, CEO of JPMorgan, indicated that not wanting to commute should not guarantee job security.
“I completely understand why someone does not want to commute an hour and a half every day, totally got it. [It] does not mean they have to have a job here either…. [Remote work] does not work for younger kids in apprenticeships, it does not really work for creativity and spontaneity, it does not really work for management teams…. There are real flaws,” Dimon said.
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Conversely, employment expert Jason Greer believes the world is gradually shifting back to a five-day workweek. Greer maintains that the time has come to acknowledge the present circumstances, as was the norm before the pandemic. He contends that if employees are paid bi-weekly for in-office work, they should fulfill that obligation.
According to Greer, employees who find the arrangement disagreeable are free to seek opportunities elsewhere.
“If your employer mandates for you to be in the office five days a week, you come to the office five days a week. If that does not fit with your lifestyle, then you take your talents elsewhere,” Greer added.
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In contrast, the tech industry, from which crypto companies emerge, seems more adaptable. According to a recent survey, remote work appeals to 98% of the workforce at least part-time.
By 2025, it is projected that approximately 32.6 million Americans, or roughly 22% of the labor force, will be engaged in remote work.
Zoom, a symbol of pandemic-era telecommunication, has implemented a less stringent requirement for employees within a 50-mile radius of an office to commute twice a week. Meanwhile, Greg Hill, CPO at Exos, asserted that remote work will remain.
Still, the optimum situation lies in a hybrid model that balances community building with employee well-being.
“I think the balance today is hybrid. There is a general consensus organizations have to find a balance of getting people together, to have community to grow, think, innovate, to dissent, all of those things cannot happen as organically on computers,” Hill said.
Crypto Prefers Remote Work
The crypto industry, known for its disruptive approach and decentralized ideology, has a unique stand in this debate. These companies inherently understand the importance of decentralization, whether in blockchain technology or organizational structure.
In a marketplace characterized by technological innovation and a war for top-tier talent, crypto companies are at a crossroads. The decentralized ethos of the sector points toward a more flexible work arrangement.
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Usman Ahmad, CEO of Zodia Markets, believes there is no necessity to oversee employees in close physical contact daily. Instead, he recommends allowing individuals the freedom to organize their lives without the stress of a daily two-hour commute.
“Crypto firms operate better when you allow remote work. Expectations are around getting the job done rather than clocking in or clocking out,” Ahmad said.
This view is widely shared in the cryptocurrency sector, where many firms actively endorse remote work arrangements. As seen in BeInCrypto’s Crypto Jobs in Web3, major players in the industry like Binance, Coinbase, and Kraken offer job openings that do not necessitate in-office attendance.
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These leading crypto companies, among others, support the idea that employees can work from a location of their choosing, without geographic constraints.
As the modern workplace grapples with the complex calculus of remote versus in-person work, the crypto industry seems to have decoded its own formula.
Rooted in decentralization and technological innovation, crypto companies challenge conventional corporate wisdom, leaning towards a more flexible work paradigm.