MGT1023 FUNDAMENTALS OF HUMAN RESOURCE

MANAGEMENT
J-component Final report

Report on HR policies of Coinbase

Sanjayshanmugam sk.(19MIS0002)
Albin Babu (20BCL0072)
Vidhula Iyer Pallavor (20BEC0220)
Tirumalasetti Bala Sai Vineeth (20BIT0063)
Siddharth V Reddy (20BME0264)
As social beings, humans rarely live and work in isolation, always managing our relationships both
consciously and unconsciously. These relationships are the result of our actions, which depend on
our ability to manage them. From childhood, individuals acquire knowledge and experience in
understanding others and how to behave in various situations in life. Later, this learning is carried
forward and applied to managing relationships in the workplace. The concept of Human Resource
Management (HRM) revolves around managing relationships in the workplace. Since the mid-1980s,
HRM has gained acceptance in both academic and commercial circles as a multidisciplinary
organizational function that draws on theories and ideas from various fields such as management,
psychology, sociology, and economics. There is no single best way to manage people, as people are
complex beings with complex needs. Effective HRM depends on the causes and conditions that an
organizational setting provides.

An organization has three basic components: people, purpose, and structure. HRM is the study of
activities related to people working in an organization, focusing on matching an organization's needs
with the skills and abilities of its employees. HRM involves designing management systems to ensure
that human talent is used effectively and efficiently to achieve organizational goals. According to
various HRM definitions, it is concerned with hiring, motivating, maintaining, and integrating people
in an organization. It encompasses the planning, organizing, directing, and controlling of the
performance of those operative functions related to the procurement, development, compensation,
integration, and maintenance of the personnel of an organization for the purpose of contributing
towards the accomplishments of the organization's objectives.

In short, HRM refers to the management of people in organizations, involving policies and practices
such as recruiting, screening, training, rewarding, and appraising, aimed at obtaining, developing,
utilizing, evaluating, maintaining, and retaining the appropriate number and skill mix of employees to
accomplish an organization's objectives. The goal of HRM is to maximize employees' contributions to
achieve optimal productivity and effectiveness while attaining individual and societal objectives. In
summary, HRM can be defined as the art of procuring, developing, and maintaining a competent
workforce to achieve an organization's goals in an effective and efficient manner.

Nature of HRM
Human Resource Management (HRM) is an important management function that deals with
managing the people dimension of an organization. The goal of HRM is to effectively manage
employees in a way that enhances both their individual performance and the overall performance of
the organization.

HRM encompasses a range of activities, such as recruiting and selecting new employees, training and
developing existing employees, managing employee benefits and compensation, and maintaining
employee relations.

One of the key principles of HRM is integration, which means that decisions made regarding
employees must be consistent with the overall HR strategy and objectives of the organization. This
ensures that HRM functions are aligned with the organization's overall goals and objectives.

Effective HRM is critical to an organization's success, as it enables companies to attract and retain top
talent, develop employee skills and knowledge, and create a positive work culture. When HRM is
executed effectively, it can lead to higher levels of employee satisfaction and engagement, which in
turn can improve productivity and overall organizational performance.
Scope of HRM
The range of HRM is quite extensive, encompassing all significant activities related to the working life
of an employee, starting from their entry into an organization until they exit. This includes several
key HRM activities such as HR planning, job analysis, job design, employee recruitment,
compensation for both employees and executives, employee motivation, employee retention,
industrial relations, and HRM opportunities. The scope of HRM covers all aspects of managing people
as employees in any organization, including all the decisions, strategies, factors, principles,
operations, practices, functions, activities, and methods. It also covers all aspects related to people in
their employment relationships, along with the dynamics that arise from these relationships.

Objectives
1. Societal objectives of an organization aim to promote social responsibility and address the
needs and challenges of society while minimizing any negative impact on the organization. If
an organization fails to ethically use its resources for the betterment of society, it may face
restrictions. Includes-

a. Legal compliance

b. Benefits

c. Union- management relations

2. Organizational Objectives of HRM acknowledge the crucial role it plays in achieving overall
organizational effectiveness. It emphasizes that HRM should not be viewed as an
independent department, but rather as a tool to support the organization's primary goals.
 The HR department is designed to serve and assist the other departments within the
organization. Includes-

a. Human Resource Planning

b. Employee relations

c. Selection

d. Training and development

e. Appraisal

f. Placement

g. Assessment

3. Functional objectives of HRM are to ensure that the department's contribution aligns with
the organization's requirements. The HR resources should be tailored to meet the
organization's demands without becoming too costly and burdensome for the organization.
The department should provide its services in a cost-effective manner to support the
organization's overall objectives. Includes-

a. Appraisal

b. Placement

c. Assessment

4. Personnel Objectives aim to support employees in attaining their personal goals, as long as
those goals align with and enhance their contributions to the organization. Meeting the
personal objectives of employees is crucial for their retention, motivation and job
satisfaction. Failure to do so may lead to a decline in their performance and satisfaction,
ultimately resulting in employee turnover. Includes-

a. Training and development

b. Appraisal

c. Placement

d. Compensation

e. Assessment
Activities of HR

Human Resource Planning

Human resource planning is a crucial process in any organization that involves assessing the current
and future human resource needs of the company. It is an ongoing process that helps organizations
identify gaps in their workforce, plan for the future, and ensure that they have the right people with
the right skills to meet their business objectives. The objective of human resource planning is to
ensure that an organization has the right number of people with the necessary skills and knowledge
to perform their jobs effectively.

The process of human resource planning involves several steps, starting with the assessment of the
current workforce. This involves collecting data on the skills, knowledge, and abilities of existing
employees. This data is then used to identify any gaps in the workforce, such as skills or knowledge
that are lacking. Once these gaps have been identified, the next step is to develop a plan to address
them.

The second step in the process is to forecast future workforce needs. This involves analyzing current
and future business objectives, and identifying the skills and knowledge that will be required to
achieve them. The forecasted workforce needs are then compared to the current workforce, and any
gaps are identified.

The third step is to develop strategies to address the gaps identified in the second step. This may
involve developing training programs to enhance the skills and knowledge of existing employees,
recruiting new employees with the required skills and knowledge, or a combination of both.

The fourth step is to implement the strategies developed in the third step. This may involve
implementing training programs, hiring new employees, or both. The implementation of the
strategies should be monitored and evaluated to ensure that they are effective in addressing the
gaps in the workforce.
The final step is to evaluate the effectiveness of the human resource planning process. This involves
assessing the success of the strategies implemented in the previous step, and identifying any areas
for improvement in the process.

Human resource planning is essential for any organization that wants to ensure that they have the
right people with the right skills to achieve their business objectives. It allows organizations to
identify gaps in their workforce, and develop strategies to address them. By doing so, organizations
can ensure that they have a workforce that is capable of meeting the challenges of the future.

Job Analysis and Job Design

Job analysis and job design are critical components of human resource management (HRM). They
form the foundation upon which many HR functions are built. Job analysis involves breaking down a
job into its component tasks and identifying the knowledge, skills, abilities, and other characteristics
required to perform those tasks. Job design involves organizing the tasks identified in the job analysis
in a manner that maximizes efficiency and effectiveness.

Job analysis is typically conducted through a combination of observation, interviews, and surveys.
The goal of job analysis is to produce a detailed understanding of the tasks that make up a particular
job and the requirements for performing those tasks. The resulting job description should include a
detailed list of tasks, the knowledge and skills required to perform those tasks, the physical and
environmental requirements of the job, and any other relevant details.

Job analysis is important for a number of reasons. First, it provides a clear understanding of what is
required to perform a particular job, which is essential for effective recruitment, selection, and
training. Second, it ensures that job requirements are consistent with legal and regulatory
requirements. Third, it provides a basis for performance evaluations, compensation decisions, and
other HR functions.

Once the job analysis is complete, the next step is job design. Job design involves organizing the tasks
identified in the job analysis in a manner that maximizes efficiency and effectiveness. This involves
determining how tasks will be grouped, the order in which they will be performed, and the physical
layout of the workspace.

Job design is important for a number of reasons. First, it ensures that jobs are structured in a way
that maximizes efficiency and effectiveness, which can increase productivity and reduce costs.
Second, it ensures that jobs are designed in a way that is safe and ergonomic, which can reduce the
risk of workplace injuries and illnesses. Third, it can help to increase job satisfaction and reduce
turnover by creating jobs that are interesting and challenging.

There are a number of different approaches to job design, including job simplification, job
enlargement, job rotation, and job enrichment. Job simplification involves breaking down a job into
its simplest components and performing each component separately. This approach is best suited for
jobs that are repetitive and require little decision-making. Job enlargement involves adding new tasks
to a job in order to make it more challenging and interesting. This approach is best suited for jobs
that are too narrow and do not provide enough variety. Job rotation involves moving employees
between different jobs in order to provide them with a broader range of skills and experience. This
approach is best suited for organizations that value cross-functional training and development. Job
enrichment involves providing employees with more autonomy, responsibility, and decision-making
authority. This approach is best suited for jobs that require a high degree of creativity and
innovation.

Recruitment

Recruitment is one of the key functions of the human resource department. It is the process of
identifying, attracting, and selecting potential candidates for a job vacancy within an organization.
Recruitment plays a critical role in ensuring that an organization has the right people with the right
skills in the right positions.

The recruitment process typically starts with a job analysis, where the HR department identifies the
job requirements, qualifications, and experience necessary for a particular position. Based on this
analysis, the HR department develops a job description and person specification that outline the key
responsibilities and requirements of the job.

Once the job description and person specification are finalized, the HR department can start the
recruitment process. There are various methods of recruitment that an organization can use,
including internal and external recruitment. Internal recruitment involves filling a vacancy from
within the organization, while external recruitment involves attracting candidates from outside the
organization.

In internal recruitment, the HR department can use job posting, internal job boards, or employee
referrals to identify potential candidates for the job vacancy. Internal recruitment has several
advantages, including higher employee morale and retention, as well as the possibility of reduced
training costs.
External recruitment, on the other hand, involves attracting candidates from outside the
organization. This can be done through various methods such as job postings on the company
website, job portals, social media, and job fairs. External recruitment allows for a larger pool of
candidates to choose from, increasing the likelihood of finding the best fit for the job.

The HR department is responsible for screening, shortlisting, and interviewing candidates for the job
vacancy. This involves reviewing resumes and cover letters, conducting phone or video interviews,
and arranging face-to-face interviews with the shortlisted candidates. The HR department can also
conduct background checks and reference checks to ensure that the candidate is a good fit for the
organization.

The final step in the recruitment process is the selection of the candidate. This involves making a job
offer and negotiating the terms of employment, such as salary, benefits, and start date. The HR
department also plays a critical role in onboarding the new employee and ensuring that they have a
smooth transition into the organization.

Selection

Selection is a crucial process in the human resource management department as it determines which
candidate will be the most suitable for the position. The selection process involves a series of steps
that are designed to assess the candidate's suitability for the job. These steps include a thorough
review of the candidate's resume, an initial interview, and further assessments such as aptitude
tests, personality tests, and reference checks.
The first step in the selection process is to review the candidate's resume or application. This is an
important step as it provides a summary of the candidate's educational background, work
experience, skills, and achievements. The resume review helps the HR department to filter out
unsuitable candidates and shortlist those who meet the basic requirements for the job.

Once the HR department has shortlisted the candidates, the next step is to conduct an initial
interview. The purpose of the interview is to assess the candidate's suitability for the job, and to gain
a better understanding of their skills, experience, and personality. The interview is usually conducted
by the HR department, and may involve other members of the organization such as the hiring
manager or department head.

After the initial interview, the HR department may conduct further assessments such as aptitude
tests, personality tests, and reference checks. These assessments are designed to provide a more
objective and comprehensive evaluation of the candidate's skills, abilities, and character. Aptitude
tests assess the candidate's cognitive abilities and problem-solving skills, while personality tests
evaluate their temperament, motivation, and work style. Reference checks involve contacting the
candidate's previous employers or other professional contacts to verify their employment history
and to obtain feedback on their performance and conduct.

Based on the results of the assessments, the HR department will make a final decision on the
candidate's suitability for the job. If the candidate is selected, the HR department will extend an offer
of employment and negotiate the terms and conditions of the job, such as salary, benefits, and
working hours. If the candidate is not selected, the HR department will provide feedback and may
offer suggestions for improvement, such as additional training or experience.

The selection process is critical to the success of any organization, as it ensures that the right person
is selected for the job. A well-designed selection process helps to minimize the risk of hiring the
wrong candidate, which can lead to poor performance, low productivity, and high turnover. In
addition, a fair and transparent selection process helps to build trust and credibility with job
applicants, which can enhance the organization's reputation and employer brand.

Induction and Placing

Induction and placing new hires is an important aspect of the human resource department. It is the
process of introducing new employees to their work environment, colleagues, job responsibilities,
company culture, policies, and procedures. This process is crucial as it helps new hires settle into
their new roles quickly, feel comfortable and motivated, and understand the expectations of the
company.

The induction process can begin as soon as the employee accepts the job offer. The human resource
department should send an offer letter to the new hire, including information about the job, salary,
benefits, and other details. They should also provide them with any pre-employment
documentation, such as background check consent forms, that need to be completed before the first
day of work.

On the first day of work, the new hire should receive a warm welcome and a tour of the workplace.
They should be introduced to their team members, immediate supervisor, and other employees they
will be working with. The HR department should also provide them with an induction pack that
includes essential information about the company, such as the mission and vision statement,
company policies, health and safety procedures, and employee benefits. This induction pack can also
include information about the new hire’s job responsibilities and performance expectations.
It is also important to assign a mentor or buddy to the new hire. This person can help the new hire
get settled, answer any questions they may have, and provide them with support and guidance
during their initial days at work. Having a mentor or buddy can help the new hire feel welcome and
supported, and can also help them integrate into the team quickly.

Once the induction process is complete, the human resource department should work with the new
hire’s immediate supervisor to ensure that they are placed in the appropriate role within the
organization. This may involve assessing their skills, experience, and qualifications and matching
them to the requirements of the job. The HR department can also work with the supervisor to
develop an orientation and training program that will help the new hire develop the skills and
knowledge needed to be successful in their new role.

Training, Development and Career Planning

The role of the human resource department in training, development, and career management is
crucial in enhancing the skills and knowledge of employees. Training and development are essential
aspects that ensure the employees can improve their productivity and efficiency in performing their
duties. In addition, career management assists in retaining employees by providing opportunities for
career growth and development.

Training is a process that involves providing employees with the necessary knowledge and skills to
perform their jobs effectively. The human resource department is responsible for identifying the
training needs of employees and designing training programs that meet those needs. The training
programs can be in the form of on-the-job training, classroom training, online training, or workshops.
The goal of training is to ensure that employees have the skills and knowledge needed to perform
their jobs effectively and efficiently.

Development is a process that involves preparing employees for future responsibilities and
challenges. It is a long-term process that aims to enhance the knowledge, skills, and abilities of
employees. The human resource department is responsible for identifying the development needs of
employees and designing development programs that meet those needs. The development programs
can be in the form of mentoring, coaching, job rotation, or special projects. The goal of development
is to ensure that employees are prepared for future responsibilities and challenges.

Career management is the process of providing employees with opportunities for career growth and
development. The human resource department is responsible for designing career paths and
providing opportunities for employees to advance in their careers. Career management includes
activities such as career counseling, career planning, and career development. The goal of career
management is to retain employees by providing opportunities for career growth and development.

The benefits of training, development, and career management are numerous. Firstly, it helps to
improve employee performance and productivity. Employees who have the necessary skills and
knowledge are more likely to perform their jobs effectively and efficiently, which leads to increased
productivity. Secondly, it helps to improve employee satisfaction and motivation. When employees
feel that they are growing and developing in their careers, they are more likely to be satisfied with
their jobs and motivated to perform well. Finally, it helps to retain employees. When employees are
provided with opportunities for career growth and development, they are more likely to stay with
the organization.

Appraisal and Performance Management

Appraisal and performance management are crucial functions of the human resource department
that help organizations evaluate the performance of their employees and take necessary actions to
improve their productivity and efficiency. In this article, we will explore the key aspects of appraisal
and performance management and their significance in the HR department.

Appraisal is a process of evaluating and assessing the performance of an employee in terms of his or
her skills, knowledge, behaviour, and overall contribution to the organization. The primary objective
of appraisal is to provide employees with feedback on their performance, identify their strengths and
weaknesses, and help them improve their performance to meet the goals and objectives of the
organization. Performance management is a broader concept that includes various activities, such as
setting performance goals, measuring performance, providing feedback, coaching and mentoring,
and taking corrective actions when necessary.

The HR department plays a critical role in the appraisal and performance management process. It is
responsible for designing and implementing performance management systems, setting performance
standards, and ensuring that employees receive regular feedback on their performance. The HR
department also conducts performance appraisals and provides employees with developmental
opportunities to improve their skills and knowledge.

One of the primary benefits of appraisal and performance management is that they help
organizations identify their high-performing employees and reward them accordingly. It also helps
organizations identify employees who are underperforming and take corrective actions to improve
their performance. Regular performance appraisals also help employees understand their strengths
and weaknesses, and develop a plan to improve their skills and knowledge.

Another significant aspect of appraisal and performance management is that they promote
employee engagement and motivation. When employees receive regular feedback on their
performance, they feel valued and motivated to work harder and contribute more to the
organization. Performance management also provides employees with opportunities to grow and
develop their careers within the organization, which helps to improve employee retention and
reduce turnover rates.

Effective performance management requires a well-designed performance appraisal system, which

includes clear and measurable performance standards, regular feedback, and coaching and
mentoring opportunities. The HR department must also ensure that the performance appraisal
system is fair and unbiased, and that employees receive equal opportunities for growth and
development.

Methods of appraisal:
Incentives and Managing Employee Benefits

Incentives and employee benefits play an essential role in attracting and retaining employees. The
human resource department is responsible for designing and implementing incentive programs and
benefits that align with the organization's objectives while meeting the employees' needs. The goal is
to provide a comprehensive benefits package and attractive incentives that will motivate employees
to perform at their best.

Incentive programs come in various forms, including bonuses, stock options, profit sharing, and
performance-based incentives. The human resource department must design incentive programs
that align with the company's goals and reward employees for achieving them. For instance, the
department can design a bonus program that rewards employees for meeting sales targets or
completing projects on time. Performance-based incentives can also be used to motivate employees
to enhance their skills and knowledge, which can lead to career advancement.

Employee benefits are also an important aspect of managing human resources. They include health
insurance, retirement plans, paid time off, and other perks like gym memberships and employee
discounts. Offering comprehensive benefits packages can help attract and retain employees, reduce
absenteeism, and boost morale. The human resource department must keep up to date with the
latest trends in employee benefits and tailor them to meet employees' needs.

The department must also ensure that employees understand their benefits packages and how to
use them. This can be achieved through regular communication and providing clear guidelines on
how to access and use the benefits. The human resource department can also conduct training
sessions to educate employees on the benefits available to them and how they can maximize them.

Managing employee benefits can be challenging, especially with the constantly changing regulatory
requirements. The human resource department must ensure that the organization complies with the
laws and regulations regarding employee benefits. They must also ensure that employees receive fair
and equal treatment regarding benefits.
 COINBASE
Coinbase is a San Francisco-based cryptocurrency exchange that was founded in 2012 by Brian
Armstrong and Fred Ehrsam. The company's mission is to create an open financial system for the
world, where people can easily buy, sell, and store digital assets like Bitcoin, Ethereum, and Litecoin.

Coinbase has grown to become one of the most popular cryptocurrency exchanges in the world, with
over 56 million verified users in over 100 countries. The platform allows users to buy and sell
cryptocurrencies with fiat currencies, and also provides a secure digital wallet to store their digital
assets.

In addition to its exchange and wallet services, Coinbase has also launched a number of other
products and services. These include Coinbase Pro, a more advanced trading platform for
professional traders; Coinbase Earn, a platform that rewards users with cryptocurrency for
completing educational tasks; and Coinbase Commerce, a payment processing system that allows
merchants to accept cryptocurrency payments.

Coinbase has also been at the forefront of cryptocurrency regulation, working closely with regulators
to ensure that its platform complies with all relevant laws and regulations. The company was the first
cryptocurrency exchange to become a publicly traded company, with its initial public offering (IPO) in
April 2021 valuing the company at over $85 billion.

Despite its success, Coinbase has faced criticism from some in the cryptocurrency community who
view it as too centralized and not in line with the decentralized nature of cryptocurrencies. However,
Coinbase has continued to innovate and expand its services, and is likely to remain a major player in
the cryptocurrency space for years to come.

Coinbase is focused on building its Ethereum Layer 2 (L2) solution called "the base," which is being
incubated by Coinbase and built on the open-source OP Stack.

Coinbase is expanding its networks in Africa and embracing web3 technology, indicating a strategic
move to tap into the potential of the African market and leverage the benefits of decentralized
technologies.

Coinbase Is Speeding Up Plans to Expand Outside the US. Coinbase has traditionally concentrated on
the US market, but as the cryptocurrency business has risen in popularity throughout the world,
Coinbase has been seeking to expand its operations into other nations and areas. This expansion is
being driven by rising worldwide demand for cryptocurrencies and Coinbase's objective of serving
consumers in many countries.

It has already developed a foothold in various nations other than the United States, including the
United Kingdom, the European Union, Canada, Australia, and Singapore. It secured licences and met
regulatory standards in various jurisdictions in order to provide its services to clients. Coinbase has
also been looking into new markets in Asia, Latin America, and other parts of the world.

International expansion has its own set of problems, such as negotiating diverse legal frameworks,
compliance standards, and market dynamics in several nations. To effectively operate in new areas,
Coinbase will need to adapt to local legislation and adjust its services accordingly.
It's important to note that Coinbase's foreign expansion plans and timescales are subject to change
based on a variety of factors, including legislative changes, market circumstances, and corporate
strategy. It is recommended to consult to Coinbase's official releases and communications for the
most up-to-date and accurate information about Coinbase's intentions for international expansion.
Restore response.

Coinbase, a large cryptocurrency exchange, has been engaged in the NFT (Non-Fungible Token)
market and has indicated interest in cooperating with musicians to investigate the possibilities of
NFTs as unique digital assets. In recent years, NFTs have received a lot of attention, especially in the
art and entertainment industries, where musicians and artists have used them to produce and sell
digital artefacts, virtual concert tickets, and other exclusive material.

Coinbase's engagement in the NFT market is consistent with the company's purpose of fostering the
growth of the cryptocurrency ecosystem and promoting novel applications of blockchain technology.
Coinbase hopes to allow artists to generate new revenue streams, direct interactions with fans, and
deliver unique digital experiences by collaborating with musicians and utilising NFTs.

Coinbase has also been looking at the possibility of providing Wallet-as-a-Service, which would allow
customers to securely store, manage, and transact cryptocurrency using a Coinbase-powered wallet.
This would give people and companies a quick and user-friendly way to deal with cryptocurrencies
while also benefiting from Coinbase's extensive security measures and industry experience.

Coinbase's possible intentions to offer Wallet-as-a-Service coincide with the company's aim to
provide its clients with dependable and secure bitcoin services. By providing a white-label wallet
solution, Coinbase may enable businesses and developers to use its infrastructure and expertise to
construct their own cryptocurrency wallets and apps, therefore increasing bitcoin acceptance and
accessibility.

Coinbase has also implemented changes to its HR policies, following an apolitical culture and
providing several offers, which could refer to incentives or benefits for employees or customers.
Furthermore, the adoption of new technologies like web3 is attracting young developers to
Coinbase.
 Reasons for the success of the company

1. Apolitical culture:

Coinbase provides severance benefits to workers who are unhappy with the policy, and
around 5% of its workforce, corresponding to approximately 60 people, leads to being
upfront with employees and driven into the successful route while removing dust barriers.
An apolitical culture in a company like Coinbase would mean that the company aims to
remain neutral and not take a stance on political or social issues. This could involve avoiding
involvement in political activities, refraining from expressing opinions on controversial topics
and maintaining a neutral stance on issues that are outside the scope of the company's core
business operations.
An apolitical culture may have both advantages. Some potential advantages of an apolitical
culture in a company like Coinbase could include:
Focused business operations: By avoiding engagement in political activities, the company can
maintain its focus on its core business operations and not get distracted by external
controversies or conflicts.
Reduced risk of alienating stakeholders: Taking a stance on political or social issues can
sometimes result in alienating certain stakeholders, such as customers, investors, or
employees, who may hold different views. By remaining apolitical, a company may mitigate
the risk of polarizing its stakeholders.
Professionalism and neutrality: An apolitical culture may foster a sense of professionalism
and neutrality among employees, ensuring that they conduct themselves in a manner that is
impartial and free from bias in their interactions with customers, partners, and other
stakeholders.
It's important to note that the decision to adopt an apolitical culture, or any other cultural
stance, is subjective and depends on the values, mission, and goals of the company, as well
as the expectations and needs of its stakeholders. Companies like Coinbase may choose to
have an apolitical culture, but it's important for them to carefully consider the potential
implications and communicate their stance clearly to stakeholders.

2. Expanding the depth and breadth of assets:

Coinbase has been actively working towards expanding the depth and breadth of assets
available on its platform. As a cryptocurrency exchange, Coinbase initially focused on
providing support for a limited number of cryptocurrencies, such as Bitcoin (BTC) and
Ethereum (ETH). However, over time, Coinbase has been expanding its offerings to include a
wider range of cryptocurrencies, as well as other digital assets.

One of the ways Coinbase has been expanding the depth of assets is by adding support for
additional cryptocurrencies beyond the original offerings. Coinbase has been regularly
adding new cryptocurrencies to its platform, allowing users to buy, sell, and trade a broader
range of digital assets. This expansion has been based on factors such as market demand,
regulatory compliance, and technical feasibility, among others.

Coinbase's efforts to expand the depth and breadth of assets on its platform reflect its
commitment to providing a comprehensive and diverse range of options for its users. By
offering support for a wider range of cryptocurrencies, NFTs, and potentially traditional
 financial assets, Coinbase aims to cater to the evolving needs of its users and provide them
with a wider array of investment and trading opportunities in the rapidly evolving digital
asset space.

3. Launching innovative products:

Any known, and many yet-to-be-created financial and non-financial products can be built for
the crypto economy. They continue to innovate by providing.

It has been actively involved in launching innovative products aimed at enhancing the user
experience and expanding the utility of cryptocurrencies. Coinbase has always been at the
forefront of innovation in the cryptocurrency industry, constantly exploring new ways to
provide value to its users and drive adoption of digital assets.

One example of Coinbase's innovative product offerings is Coinbase Earn, a platform that
allows users to learn about cryptocurrencies and earn them in the process. Coinbase Earn
provides educational content and quizzes related to different cryptocurrencies, and users can
earn a small amount of the respective cryptocurrency as a reward for completing the
educational activities. This unique approach helps users gain knowledge about
cryptocurrencies while also providing them with a practical way to acquire and use digital
assets.

Another innovative product launched by Coinbase is Coinbase Card, a Visa debit card that
allows users to spend their cryptocurrencies for everyday purchases. With Coinbase Card,
users can link their Coinbase accounts to a physical or virtual debit card, which can be used
at any merchant that accepts Visa cards. This product enables users to seamlessly spend
their cryptocurrencies for purchases, making them more practical for everyday use.

Coinbase has also been exploring opportunities in the decentralized finance (DeFi) space,
which aims to revolutionize traditional financial services using blockchain technology.
Coinbase has launched products such as Coinbase Wallet, a user-controlled cryptocurrency
wallet that allows users to manage their own private keys and interact with DeFi protocols
directly, as well as Coinbase Ventures, a venture capital arm that invests in promising DeFi
projects.

4. Coinbase execute on a three-pronged strategy

Provide a Secure and Compliant Platform: Coinbase places a strong emphasis on security
and compliance to ensure the safety and trust of its users. This includes implementing robust
security measures such as multi-factor authentication, encryption, and cold storage for
storing customer funds. Coinbase also maintains strict compliance with regulatory
requirements in the jurisdictions it operates in, including Anti-Money Laundering (AML) and
Know Your Customer (KYC) regulations, to prevent illicit activities and promote a transparent
and trustworthy trading environment.

Robust Security Measures: Coinbase should implement comprehensive security measures to

safeguard user data, funds, and transactions. This may include encryption of sensitive data,
multi-factor authentication, regular security audits, intrusion detection systems, and
employee training on security best practices.
 Compliance with Regulatory Requirements: Coinbase should adhere to relevant laws and
regulations, including anti-money laundering (AML) and know-your-customer (KYC)
requirements. This may involve verifying the identity of users, monitoring transactions for
suspicious activities, and reporting suspicious transactions to regulatory authorities.
Proper Licensing and Registration: Coinbase should obtain and maintain any required
licenses and registrations to operate as a cryptocurrency exchange or wallet provider, as per
the regulatory requirements of the jurisdictions in which it operates. This may include
obtaining licenses from financial regulators and complying with applicable financial services
or money transmission regulations.

User Privacy Protection: Coinbase should prioritize user privacy by implementing measures
such as data encryption, data access controls, and transparent privacy policies. It should also
obtain user consent for data collection and use, and comply with applicable data protection
laws, such as the General Data Protection Regulation (GDPR).

Risk Management: Coinbase should have robust risk management practices in place,
including identifying, assessing, and mitigating risks associated with its operations. This may
involve conducting risk assessments, establishing risk mitigation measures, and
implementing contingency plans for potential security breaches or regulatory violations.

Regular Audits and Compliance Reviews: Coinbase should conduct regular internal audits
and compliance reviews to ensure that its operations are in compliance with relevant laws,
regulations, and internal policies. This may involve engaging independent auditors or
compliance experts to assess the effectiveness of the company's compliance efforts.

Employee Training and Awareness: Coinbase should provide regular training and awareness
programs for its employees to ensure they are knowledgeable about security best practices,
regulatory requirements, and company policies. This may include training on AML/KYC, data
privacy, security protocols, and reporting procedures for suspicious activities.

Transparent Communication with Users: Coinbase should maintain transparent

communication channels with its users, providing them with clear information on its security
measures, compliance efforts, and any updates that may impact their accounts or
transactions. This helps to build trust and confidence among users.

Incident Response Plan: Coinbase should have a well-defined incident response plan in
place to promptly and effectively respond to security breaches, regulatory inquiries, or other
compliance incidents. This may involve establishing a dedicated incident response team,
documenting procedures, and regularly testing the effectiveness of the plan.

5. Expand the Asset Offering

Coinbase aims to provide a wide range of digital assets for its users to trade and invest in.
This involves constantly expanding the depth and breadth of assets available on its platform.
Coinbase has been actively adding support for new cryptocurrencies and other digital assets
based on market demand, regulatory compliance, and technical feasibility. Coinbase has also
been exploring opportunities in emerging areas such as NFTs, DeFi, and potentially
 traditional financial assets, to offer diverse investment options to its users and stay ahead of
industry trends.

Research and Due Diligence: Coinbase can conduct thorough research and due diligence on
various cryptocurrencies and tokens to assess their viability, security, and compliance with
regulatory requirements. This may involve evaluating factors such as the project's team,
technology, market demand, liquidity, and regulatory status.

User Demand and Market Analysis: Coinbase can assess user demand and market trends to
identify popular and promising cryptocurrencies or tokens that may be attractive to its user
base. This may involve analyzing market data, user feedback, and conducting surveys to
understand the preferences and needs of its users.

Partnerships and Collaborations: Coinbase can explore partnerships or collaborations with

established blockchain projects or reputable issuers to expand its asset offering. This may
involve working with established projects, conducting joint marketing efforts, or leveraging
the expertise of partners to ensure the credibility and viability of the assets being considered
for listing.

Customer Feedback and Engagement: Coinbase can actively seek feedback from its users
and engage with its community to understand their preferences and expectations regarding
new asset listings. This may involve conducting surveys, soliciting feedback on social media
or through customer support channels, and taking user opinions into account when
evaluating potential assets for listing.

Clear Listing Criteria and Process: Coinbase should establish clear listing criteria and a
transparent listing process for adding new assets to its platform. This may involve defining
clear requirements, such as compliance with regulations, technology maturity, market
demand, and liquidity. A transparent listing process can help ensure fairness, consistency,
and transparency in asset listings.

6. Drive User Adoption and Education

Coinbase recognizes the importance of user education and adoption in promoting the
mainstream adoption of cryptocurrencies. Coinbase has launched various educational
initiatives, such as Coinbase Earn, to help users learn about cryptocurrencies and earn them
in the process. Coinbase also focuses on providing a user-friendly interface and seamless
user experience through its mobile apps and web interfaces, making it easy for users,
including beginners, to buy, sell, and trade cryptocurrencies. Coinbase also invests in
customer support and engagement to ensure that users have a positive experience on its
platform.

Education and Information: Coinbase can provide educational resources and information to
its users about new assets being added to its platform. This may involve publishing
educational content, conducting webinars, or providing comprehensive asset profiles with
relevant information about the asset's technology, use case, risks, and benefits

User-Friendly Interface: Coinbase can provide a user-friendly and intuitive interface for its
platform to make it easy for users, including newcomers, to navigate, understand, and use
the platform. This may involve simplifying the user interface, providing clear instructions, and
 offering user-friendly features such as portfolio tracking, price alerts, and educational
resources.

User Feedback and Iterative Improvements: Coinbase can actively seek feedback from its
users and use it to continuously improve its platform, educational resources, and user
experience. This may involve conducting surveys, gathering user feedback on social media,
and incorporating user suggestions into platform updates and improvements.

7. Technology and software development

The cryptocurrency exchange business relies heavily on technology, and software

development is a crucial component of it. The quality of software and its ability to handle
high volumes of transactions can make or break the success of a Coinbase. Therefore, having
skilled developers who can create and maintain a robust and secure software platform is
critical.

8. Customer support

Customer support is another essential aspect of a Coinbase. Customers need timely and
accurate support when they face issues with their accounts, transactions, or other aspects of
the exchange. Having a competent customer support team that can respond to queries and
resolve issues quickly can lead to higher customer satisfaction and retention.

9. Compliance and legal expertise

The regulatory environment surrounding cryptocurrency exchanges is complex and

constantly evolving. Coinbase must comply with various laws and regulations to operate
legally and avoid legal issues. Therefore, having a team of legal and compliance experts who
can stay abreast of the regulatory landscape and ensure that the company is in compliance
with all applicable laws is crucial.

10. Marketing and business development

In a highly competitive industry like crypto exchange, effective marketing and business
development strategies are essential for success. A talented team with experience in
marketing and business development can help the company differentiate itself from
competitors, build brand awareness, and attract new customers.

11. Security and risk management

Cryptocurrency exchanges are high-value targets for hackers and other bad actors, as they
hold vast amounts of assets in their custody. Therefore, having a robust security and risk
management team is essential for protecting customer funds and maintaining the trust of
 customers. A strong security team can detect and prevent security breaches, mitigate risks,
and respond to incidents effectively.

12. Operations and finance

The smooth functioning of a crypto exchange requires efficient operations and finance
management. The company needs a team that can handle back-office functions, such as
accounting, auditing, treasury management, and risk management, effectively. In addition,
operational efficiency is critical to the success of a crypto exchange, as it affects transaction
processing times, customer experience, and overall profitability.

13. Innovation and product development

The crypto exchange industry is rapidly evolving, and new technologies and products are
emerging continuously. Therefore, having a team that can innovate and develop new
products and services is crucial for staying ahead of the competition. A forward-thinking
team can identify opportunities, develop new products and services, and implement them
effectively, thereby driving growth and improving customer engagement.

14. International expansion

Cryptocurrency exchanges operate in a global market, and expanding into new geographies
can drive growth and diversify revenue streams. However, international expansion requires
expertise in various areas, such as legal and regulatory compliance, cultural awareness, and
business development. Therefore, having a team with international experience and language
skills can help a crypto exchange company navigate new markets successfully.

15. Leadership and management

The success of a Coinbase depends heavily on its leadership and management team. The
company needs experienced and visionary leaders who can set a clear strategic direction,
make sound decisions, and inspire and motivate the workforce. Additionally, effective
management is crucial for aligning the team's efforts with the company's goals, ensuring
accountability, and driving results.

16. Employee engagement and retention

Finally, the success of a Coinbase also depends on its ability to attract, engage, and retain top
talent. A highly engaged and motivated workforce can drive innovation, productivity, and
customer satisfaction. Therefore, the company needs to create a supportive and rewarding
work environment, offer competitive compensation and benefits, and provide opportunities
for career growth and development.
 HR department's role in their success

Recruitment and Onboarding: The HR department at Coinbase is responsible for recruiting top talent
from around the world. They work closely with hiring managers to identify the right candidates,
screen them, and bring them onboard. The HR department also ensures that the new hires are
properly onboarded, trained, and integrated into the company's culture and values.

Employee Development and Training: The HR department at Coinbase is responsible for creating a
culture of continuous learning and development. They provide training and development
opportunities for employees to help them grow their skills and advance their careers. This not only
benefits the employees but also helps the company retain its top talent.

Employee Engagement and Retention: The HR department at Coinbase is responsible for ensuring
that employees are engaged and motivated. They work to create a positive work environment, foster
open communication, and promote a sense of community among employees. This helps to increase
employee satisfaction, reduce turnover, and retain top talent.

Diversity, Equity, and Inclusion: The HR department at Coinbase is responsible for promoting
diversity, equity, and inclusion (DEI) in the workplace. They work to ensure that the company's hiring
practices are fair and unbiased and that all employees feel valued and included. This helps to create a
more diverse and inclusive workplace and promotes innovation and creativity.

Compensation and Benefits: The HR department is responsible for designing and implementing
competitive compensation and benefits programs that attract and retain top talent. They also ensure
that the programs are aligned with the company's goals and values.

Performance Management: The HR department is responsible for developing and implementing

performance management processes that align employee performance with the company's goals.
They work with managers to set clear expectations, provide feedback and coaching, and evaluate
employee performance.

Compliance and Legal: The HR department at Coinbase is responsible for ensuring that the company
complies with all relevant employment laws and regulations. They also manage any legal issues that
may arise and work to minimize the company's exposure to legal risks.

Culture and Values: The HR department plays a key role in promoting and reinforcing the company's
culture and values. They work to ensure that employees understand and embrace the company's
mission, vision, and values, and that these are reflected in the company's policies, procedures, and
practices.
Employee Relations: The HR department is responsible for managing employee relations issues, such
as conflicts, complaints, and grievances. They work to resolve issues in a fair and respectful manner,
and promote a positive and supportive workplace culture.
 HR policies of Coinbase

Candidate requirements and selection

Working at Coinbase is no small feat, and getting in the door also can be challenging. Having the
technical and functional skills and experience to deliver results are critical (called “the WHAT”). We
also want to make sure candidates can thrive in our environment (called “the HOW”). We work
incredibly hard at Coinbase — for most of us, Coinbase is the most intense place we’ve ever worked.
That intensity is only magnified by the sheer speed of crypto, and it often results in long days and
long weeks. Working at Coinbase can be both intense and incredibly rewarding. We look for
candidates who look at this as an incredible opportunity for adventure - not a hindrance.

This shows that the company is very clear on its policy that they want people to work very hard and
should also be able to dedicate most of their time to their job which can in the long run tire out the
employees and also cause a lot of people to leave the company after working in the company only
after a short time which necessitates the constant hiring and selection process causing a lot of
wastage of time as well as resources.

They published the first version of their culture doc in July 2019. Today’s update has many of the
same themes. It’s important to occasionally revisit and refresh these organizational artifacts to see
what’s working, what’s not, and where we want to be in the future. Their values are deeply ingrained
in our culture and are important guideposts for how they work, hire, develop, and promote. With
this update, there is now a single document describing how they work at Coinbase and what they
value in their people.

This is a very important policy that all of the companies must follow as the technology as well as the
people’s characteristics are constantly changing with the fast-changing world so constant updating of
the HR policy is required to keep up with the fast-paced changing world

1. Clear communication: They are direct and succinct. They are required to share information
efficiently, improving collaboration and productivity and practice active listening.

Effective communication between the teams as well as the teams and management is very
important for the carrying out of daily tasks and activities so as it is already clearly
mentioned in the policies to ensure smooth running.

2. Act like an owner: We should take 100% responsibility for achieving the mission. We seek to
improve all aspects of our company even in ways that are not explicitly part of our job. We
run through brick walls.

This shows that the company requires people who are very high strung and very ambitious
as well to able to be very innovative to and requires a lot of dedication and to keep the
creative juices flowing at all times.

3. Top talent: We take extraordinary measures to have exceptional people in every seat. We ask
whether each candidate will raise the average on the team before making an offer. We cast a
wide net, to attract candidates from every background, focusing on both skill and culture
alignment. We actively coach and develop. Unremarkable performance gets a generous
severance package.
 The company is very clear that it will hire only the top quality of people or the cream of the
applicants which already clears out many people from applying also due to maybe low self-
confidence thereby also losing some talent that actually might be beneficial to the company

4. Championship team: We are a winning team, not a family, and have high expectations for
performance and delivering results. We’re stronger together so we choose to focus on what
unites us, and not what divides us. We have an intense work culture, and are regularly
pushed out of our comfort zones. Coinbase should continually earn employees’ commitment
and, likewise, expects employees to earn their seat at the company.

Creating a fierce and fighting work environment almost like a battle field causes a lot of
pressure as the employees are most likely to spend a major number of hours in their office
making it almost a second home so when the company itself doesn’t the employees to treat
their colleagues as family their lead to a lot of bickering and eventually give way to company
politics which can prove destructive. And most of the top companies like Apple, Google are
doing so well is because the take care of their employees as their own which makes them
more loyal to the company

5. Continuous learning: We’re humble, and value learning over being right. We embrace
delivering and receiving candid feedback, and see every setback as an opportunity to learn.
We are crypto-forward, work hard to understand the evolving crypto landscape, and
incorporate what we learn into our work.

Continuous learning is very important for any job role or description even when you’re at the
top so integrating the continuous learning process proves to be very beneficial for the
company.

6. Customer focus: We are deeply focused on solving our customers’ problems with technology,
by enabling them to acquire, store and use crypto. We strive to be the easiest to use, most
trusted and most secure platform. In every decision we make, we ask, “How does this create
more value for our customers?”

Customers are actually the most important part of the organization apart from the
employees. So, it is necessary that the employees get to meet or interact with customers on
a regular basis so they can get to know the market their expectations well to be able to
deliver the innovations with all the right features.

7. Positive energy: We are optimistic about the future and determined to get there. We co-
create solutions instead of choosing blame and criticism.

A fact that the company says something like this is very absurd but this is what is the actual
reality is in the company so this make the issues or conflicts to be resolved at much faster
pace or not create them altogether.
Coinbase’s actual hiring process

Step 1: Application received

Once you apply, a recruiter will review your application to determine if there’s a match.

Step 2: Initial evaluation

Next, you'll take COINsights to help us get a feel for how you like to work. Depending on the role, you
may be screened for technical skill.

Step 3: Rounds of interviews

As you continue, expect several rounds of interviews with hiring managers, teammates and cross
functional partners.

Step 4: Work trial assignment

In some cases you may be asked to complete a work trial assignment.

So, as it is seen the hiring process is designed effectively to suit to the needs of the company as seen
earlier they need candidates of the highest caliber. So an exclusively designed process makes the
whole hiring process a whole lot easier, faster and efficient.

COINsights basically also need the candidates applying to give out their requirements and their
own style of work which is very smart and helps screen the candidates based on non-technical
characteristics as well so that they can move on to the technical aspects of the requirements.

Making several rounds of interviews with different stages of people helps capture all the possible
aspects of the candidates so that no essential points are left out which helps them make the right
decision or choice.

The most interesting aspect of the whole hiring process is the chance to work in the real life
environment and scenarios to be able to complete the work trial assessment so this process is very
important as many people might have the essential skills but may not be able to put it to proper use
so this checks out that aspect as well.
Orientation
If you’ve read about what it’s really like to work at Coinbase, you already know that it can be intense
and demanding. That’s why we take the first 90 days of new employees’ ramp up seriously, from
onboarding to Learning and Development to performance management. You can expect to spend
the first two days at Coinbase in our New Hire Orientation and from there you quickly transition to
your team and role. To ensure success as you onboard, you’ll meet with your manager regularly and
be partnered with an onboarding buddy and a mentor. You’ll also receive 45-day and 90-day goals,
and have review pulses during those milestones to see what’s going well and where you can lean in
more.

After your first 90 days, you will have learned a ton in the new role. By then, you’ll have the
foundation for your network, shown impact in your role and taken on a variety of responsibilities and
you’ also get continuous support by your manager and the onboarding buddy as you ease into our
regular quarterly goal-setting and review cycles. You’ll be tackling bigger problems, working through
challenges and making an even more of an impact. So in any company the orientation process should
not be missed as this helps the new employee to ease into their new roles and learn about the
company culture well so they can continue to work towards the company’s goal without any
deviation and it is also very thoughtful to have an onboarding buddy who you can develop a personal
relation with and help you throughout and make a mentor as well.
 Layoffs at Coinbase

After cryptocurrency platform Coinbase announced at the beginning of June it would not only extend
its hiring pause but “rescind a number of accepted offers,” a public backlash erupted on social media
sites, as people who had the rug pulled out from under them shared their tales of being jobless after
excitedly anticipating a new position with the top-tier crypto platform. This action may have
catalyzed an uprising among disenchanted Coinbase employees, who started an online petition,
leaked Thursday by crypto site Mirror, to remove top executives, including chief operating officer
Emilie Choi, chief product officer Surojit Chatterjee and chief people officer LJ Brock, “in a vote of no
confidence.”

The workers criticized management, stating in the petition that “the executive team has recently
been making decisions that are not in the best interests of the company, its employees, and its
shareholders,” and these decisions have “led to questionable results and negative value.” They cited
a toxic workplace, overstaffing, the misguided prioritization of certain products and the tone-deaf
recision of offers that led to unfavorable publicity and a stain on the company’s reputation. The
petitioners also called out the firm for its alleged lack of communication regarding layoffs and
condescension stemming from the executive suite.

The group added that the actions of senior management have “hurt multiple parties.” They claimed
that leadership made “unrealistic demands” that contributed to the company's stock price
plummeting, hurting shareholders and staff morale.

Coinbase CEO Brian Armstrong, in a recent tweet storm, said the employee rebellion is “really dumb
on multiple levels. If you want to do a vote of no confidence, you should do it on me and not blame
the execs.” He added, “Who do you think is running this company? I was a little offended not to be
included.

The forthright executive laid down the gauntlet, “If you have no confidence in the execs or CEO of a
company, then why are you working at that company? Quit and find a company to work at that you
believe in!”

The embattled leader agreed that “making suggestions on how to improve the company is a great
idea (in fact, we expect everyone to be a part of that);” however, it’s “our culture is to praise in public
and criticize in private. If you're unhappy about something, work as part of the team to raise it along
with proposed solutions (it's easy to be a critic, harder to be a part of the solution).” In no uncertain
terms, Armstrong let the petitioners know that “If you can't do that and you're going to leak/rant
externally then quit. Thanks!”

This isn’t the first time Armstrong came out with a bold “leave if you’re not happy” edict to
employees. In October 2020, the chief executive of the Silicon Valley-based cryptocurrency exchange
told his employees that he won’t stand for politics and the championing of social issues at the office.
Armstrong bluntly said that he’d gladly offer severance packages to employees who aren’t
comfortable with the new corporate policy of “political neutrality” in the workplace.

At the time, the chief executive wrote in a letter to employees, “Life is too short to work at a
company that you aren’t excited about. Hopefully, this package helps create a win-win outcome for
those who choose to opt out.” Around 60 employees took Armstrong up with his offer and left the
firm.

Here’s why this might be Happening

Coinbase’s chief people officer and other business leaders may have been influenced to make tough,
belt-tightening decisions due to the bleak economic outlook. The current environment includes
rapidly plunging prices of both stocks and cryptocurrencies. Runaway inflation, supply chain
disruptions, large increases in the costs of goods and services and concerns over a likely upcoming
recession or possible stagflation are of concern for executives at all types of companies. There is fear
concerning a potential escalation of the Russian war against Ukraine. The Federal Reserve Bank
stalled financial stimulus programs, changed course and announced a quantitative tightening
program.

According to the company’s corporate blog post about the hiring pause and offer rescissions, “This is
not a decision we make lightly.” Coinbase believes that by taking “more stringent measures to slow
headcount growth” and “adapting quickly and acting now,” the hiring freezes and reversing job offers
will save money and serve as part of a larger strategy to “successfully navigate this macro
environment and emerge even stronger, enabling further healthy growth and innovation.”

What People Who Had Their Offers Rescinded Said About Their Situation

On March 9, Ashutosh Ukey received an offer from Coinbase for a backend software engineer role. At
the time of the offer, Ukey was deciding between this role and a computer science doctorate
program at the University of Illinois Urbana-Champaign, but he ultimately decided to join the
Coinbase team.

After formally accepting, Ukey received an email from the cryptocurrency exchange informing him
that his offer had been rescinded. The candidate is left heartbroken after seeing his plans “fall apart,”
especially as he now stands to lose his visa status in the United States because he was left jobless
after the offer rescission. Ukey wrote in a LinkedIn post, “I was going to start on a STEM OPT VISVIS -
0.1%A, and I am only allowed a certain number of days [a 90-day grace period] on unemployment.”
He shared, “After having planned so much for the next stage of my life, seeing it fall apart so quickly
was heartbreaking.”
Xingcheng Rong similarly was going to start on a STEM VISA when she got her offer rescinded from
Coinbase. “I was so excited to start a new page in my life: renting a house, booking flights to San Jose
learning fintech industry knowledge.”

Rong described in a LinkedIn post being “depressed,” as she has dedicated six years of her life to
studying in the U.S. “I don't want six years of computer science study to go to waste just because an
offer rescind.

So it can be seen that the executives over at Coinbase are very arrogant and adamant to make any
changes to their organization as the and thus have the power to make such tweets and openly insult
their employees and not treating them with the respect the people deserve so this has led to more
than 60 people quitting their jobs at Coinbase. What could have alternatively been done was that the
HR team sit down with executives being questioned as well as he employees and come to a common
understanding or a common ground but instead they told the people who were unhappy to leave
directly as we can also see that dues to the recission a lot of people were affected especially those
people who were from out of the country and looking forward to move to the country of
opportunities America and as the immigration laws have also been made more difficult by the
previous Trump and current Biden governments adds to the multiple worries.
 Areas of Improvement

Hire and retain top talent:

Coinbase's HR department can focus on attracting and retaining the best talent in the
industry. This can involve offering competitive salaries, benefits, and perks, as well as
providing opportunities for professional development and growth within the company.

Hiring and retaining top talent is essential for Coinbase's success, as it helps the company
stay ahead of its competitors and maintain its position as a leader in the cryptocurrency
industry. Here are some strategies that Coinbase's HR department can use to attract and
retain top talent:

Offering competitive salaries and benefits packages is crucial to attract top talent. Coinbase's
HR department can research industry standards and offer salaries and benefits packages that
are on par with or better than those offered by its competitors. The department can also
offer perks such as flexible work arrangements, remote work options, and generous vacation
time to make the company more attractive to job seekers.

Improve employee engagement:

Coinbase's HR department can focus on improving employee engagement by regularly

soliciting feedback from employees and implementing changes based on that feedback. This
can involve conducting surveys, focus groups, and other forms of feedback to identify areas
for improvement and addressing them promptly.

Improving employee engagement is critical for Coinbase's HR department as engaged

employees are more productive, innovative, and invested in the success of the company.
Here are some strategies that Coinbase's HR department can use to improve employee
engagement:

Regularly soliciting feedback from employees is essential to improving employee

engagement. Coinbase's HR department can use various methods such as surveys, focus
groups, and one-on-one meetings to gather feedback from employees. This feedback can
help the department identify areas where employees feel disengaged, dissatisfied, or
undervalued.

Implementing changes based on the feedback received is crucial for improving employee
engagement. Coinbase's HR department can prioritize employee feedback and develop
action plans to address areas of concern. It is essential to communicate with employees
about the changes made and how the feedback has been incorporated.
Develop effective training and development programs

Coinbase's HR department can invest in training and development programs to help

employees build the skills and knowledge they need to excel in their roles. This can involve
offering mentorship, coaching, and other forms of professional development opportunities.

Developing effective training and development programs is crucial for Coinbase's HR

department as it helps employees build the skills and knowledge they need to excel in their
roles, which can lead to increased productivity, job satisfaction, and employee retention.
Here are some strategies that Coinbase's HR department can use to develop effective
training and development programs:

Identifying the skills and knowledge gaps in the organization is essential to developing
effective training and development programs. Coinbase's HR department can conduct a skills
assessment to identify the areas where employees need additional training and
development. The department can also consider the company's strategic goals and identify
the skills and knowledge required to achieve those goals.

Creating a comprehensive training and development plan is crucial. Coinbase's HR

department can develop a plan that includes various training methods such as workshops,
seminars, online courses, mentorship, and on-the-job training. The plan should be tailored to
meet the needs of different employee groups, including new hires, experienced employees,
and managers.

Ensuring that the training and development programs are engaging and relevant to the
employees is essential. Coinbase's HR department can use interactive training methods such
as gamification, case studies, and role-playing to keep employees engaged and interested.
The department can also ensure that the training content is up-to-date, relevant, and aligned
with the company's strategic goals.

Evaluating the effectiveness of the training and development programs is crucial. Coinbase's
HR department can use various methods such as employee surveys, assessments, and
feedback to evaluate the effectiveness of the programs. The department can use this
feedback to make improvements and ensure that the programs are meeting the employees'
needs and the company's strategic goals.

Provide remote work tools and resources

Ensure that employees have access to the right tools and resources they need to work
remotely. This includes high-speed internet, reliable communication tools, and secure access
to company resources.
 Providing remote work tools and resources is critical for Coinbase's HR department, as it
ensures that employees can work efficiently and effectively from their home or any remote
location. Here are some strategies that Coinbase's HR department can use to provide remote
work tools and resources:

Providing employees with the necessary hardware and software is crucial for remote work.
Coinbase's HR department can provide laptops, desktops, or other devices to employees
who do not have access to them. The department can also provide software tools such as
VPN access, cloud storage, and collaboration software like Zoom, Microsoft Teams, or Slack.

Making sure that employees have reliable internet connectivity is crucial for remote work.
Coinbase's HR department can provide financial support to employees to upgrade their
home internet connection to ensure that they can access the company's resources and
systems without interruptions. The department can also provide mobile data plans to
employees who work in areas with poor internet connectivity.

Providing cybersecurity tools and resources is critical for remote work. Coinbase's HR
department can provide employees with virtual private network (VPN) access, two-factor
authentication (2FA) tools, and other cybersecurity resources to ensure that company data
and resources are protected.

Giving remote work guidelines and best practices can help employees work efficiently and
effectively. Coinbase's HR department can provide guidelines on work hours, communication
protocols, and expectations around remote work. The department can also encourage
employees to take breaks and ensure that they do not experience burnout while working
from home.

Technical support and troubleshooting resources can help employees address any issues they
face while working remotely. Coinbase's HR department can provide a help desk, online
tutorials, and other technical support resources to help employees resolve technical issues
quickly and efficiently.

Regular communication and feedback:

In today's rapidly changing world, more and more companies are transitioning to a remote
workforce. The benefits of a remote workforce are numerous, including reduced overhead
costs, access to a wider pool of talent, and improved work-life balance for employees.
However, with this shift to a remote workforce, it becomes even more important to establish
effective communication channels to keep employees informed about company updates,
policy changes, and other important information.
 Regular communication is crucial in ensuring that remote employees feel connected to the
company and the broader team. It is essential to establish communication channels that are
easily accessible to all employees, regardless of their location. For example, email, video
conferencing tools, instant messaging apps, and project management software can all be
effective communication tools for remote teams. By keeping employees informed of
company updates and policy changes, it helps them to stay up to date and maintain a sense
of belonging.

Regular communication is also an opportunity to solicit feedback from employees. By

providing employees with regular opportunities to share their thoughts, you can better
understand their needs and address any concerns they may have. This can be achieved
through surveys, town hall meetings, or even one-on-one meetings between employees and
their managers. Encouraging open communication and providing regular feedback can help
employees feel valued and appreciated, leading to better engagement and productivity.

Surveys are an effective way to collect feedback from employees. Surveys can cover a wide
range of topics, such as employee satisfaction, work-life balance, communication, and
company culture. By using surveys, managers can gather valuable insights and identify areas
for improvement. The feedback obtained from surveys can help managers to address specific
concerns, make necessary changes, and improve employee satisfaction.

Town hall meetings are another effective way to encourage communication and gather
feedback from employees. These meetings can be held virtually, providing a forum for
employees to ask questions, raise concerns, and provide feedback. By allowing employees to
speak openly and candidly, managers can gain a better understanding of the challenges
employees are facing and identify opportunities for improvement.

Finally, one-on-one meetings between employees and their managers are an important
opportunity for regular feedback. These meetings can provide employees with an
opportunity to discuss their progress, challenges, and goals. By providing employees with
regular feedback, managers can help employees to improve their performance and stay
motivated.

Flexible work arrangements:

As a leading cryptocurrency exchange, Coinbase has embraced remote work as a way to

attract top talent from all over the world. However, while remote work provides employees
with a level of flexibility that traditional office-based jobs cannot, Coinbase still adheres to
fixed work schedules. This can be limiting for employees, as it does not provide them with
the level of autonomy and freedom that comes with a truly flexible work schedule. In this
article, we will explore the benefits of flexible work schedules and how Coinbase could
benefit from implementing them.

Flexible work schedules provide employees with a level of freedom and autonomy that
traditional work schedules cannot match. Instead of being confined to a rigid 9-5 schedule,
employees can choose to work during the hours that are most productive for them. This can
be particularly beneficial for employees who have families or other commitments outside of
work, as it allows them to balance their work and personal life more effectively. Additionally,
 flexible work schedules can help employees avoid the stress and fatigue associated with
commuting, leading to higher levels of job satisfaction and lower turnover rates.

Flexible work schedules can also benefit employers. By providing employees with a work
schedule that suits their individual needs, employers can increase employee satisfaction,
leading to higher retention rates and a more productive workforce. This is particularly
important in industries like cryptocurrency, where employees are expected to be on top of
the latest developments and trends. By providing employees with the freedom to work when
they are most productive, Coinbase can help ensure that its employees remain engaged and
motivated.

In addition to increasing job satisfaction and productivity, flexible work schedules can also
help reduce costs for employers. By providing employees with the option to work from
home, companies can save on costs associated with maintaining a physical office space.
Additionally, a flexible work schedule can help reduce absenteeism and increase employee
morale, leading to lower healthcare costs and fewer lost productivity days.

So, why hasn't Coinbase implemented a flexible work schedule for its employees? There
could be a number of reasons, ranging from concerns around productivity to difficulties in
managing remote teams. However, with the right tools and strategies in place, these
concerns can be addressed.

One strategy that Coinbase could use to manage remote teams is to establish clear
communication channels. Regular check-ins and updates can help ensure that employees
remain on track and aware of any changes or updates to company policies. Managers can
use tools such as video conferencing software, instant messaging, or project management
tools to keep in touch with their team members and provide support when needed.

Another strategy that Coinbase could use is to establish clear guidelines for work hours and
deadlines. By setting expectations for when employees are expected to be available for work
and what hours they are expected to be working, managers can ensure that work is
completed on time and that employees are staying productive.

Finally, Coinbase could provide employees with the tools and resources they need to work
remotely effectively. This could include access to high-speed internet, high-quality hardware
and software, and online training resources to help employees stay up-to-date with the latest
industry developments.

Encourage breaks and downtime:

Remote work has become increasingly popular in recent years, particularly in the tech
industry, and Coinbase is no exception. The benefits of remote work are numerous, including
the ability to attract top talent from all over the world, reduce overhead costs, and increase
employee satisfaction. However, working remotely also has its downsides, including the
potential for burnout and decreased productivity due to the blurring of boundaries between
work and personal life.

One way employers can help their remote employees avoid burnout and maintain a healthy
work-life balance is by encouraging regular breaks and downtime. This can be particularly
important for employees who work long hours or have demanding workloads. Encouraging
 employees to take breaks can help them recharge and refocus, leading to increased
productivity and job satisfaction.

Employers can implement policies that encourage employees to take time off, such as
flexible working hours or paid time off. This can give employees the freedom to take a break
when they need it, without worrying about losing income or falling behind on their work. By
providing employees with the ability to take time off when they need it, employers can help
reduce stress and burnout, leading to a happier and more productive workforce.

In addition to policies that encourage time off, employers can provide resources to help
employees manage stress and maintain a healthy work-life balance. This can include mental
health support services or wellness programs, such as meditation or yoga classes. These
resources can help employees reduce stress and improve their overall health and wellbeing,
leading to increased job satisfaction and productivity.

Coinbase, like many tech companies, operates in a fast-paced and demanding industry. The
pressure to keep up with the latest developments and stay ahead of the competition can be
intense, leading to a high-stress work environment. By providing employees with resources
to manage stress and maintain a healthy work-life balance, Coinbase can help its employees
remain productive and engaged, even in the face of intense pressure.

One way Coinbase could encourage regular breaks and downtime is by implementing a
flexible work schedule. By providing employees with the freedom to work when they are
most productive, Coinbase can help ensure that they are taking breaks when they need
them. This can be particularly important for employees who work in different time zones or
who have demanding workloads that require them to work long hours.

Another way Coinbase could encourage regular breaks is by providing employees with the
tools and resources they need to work effectively. This could include access to high-speed
internet, high-quality hardware and software, and online training resources to help
employees stay up-to-date with the latest industry developments. By providing employees
with the resources, they need to work effectively, Coinbase can help reduce the stress
associated with technical difficulties or outdated equipment, leading to increased job
satisfaction and productivity.

Employee recognition and rewards:

Employee recognition is a crucial part of creating a positive work environment and

promoting a culture of appreciation. At Coinbase, employee recognition is an important
aspect of their human resources policies. The company recognizes that recognizing and
rewarding employees can lead to increased job satisfaction, improved morale, and better
retention rates.

One way Coinbase recognizes and rewards employees is through their bonus program. The
company offers a performance-based bonus program that rewards employees for their hard
work and dedication. The program is designed to incentivize employees to achieve their
goals and meet their targets. By tying bonuses to performance, Coinbase ensures that
employees are recognized for their contributions and that the company is meeting its
objectives.
 In addition to their bonus program, Coinbase also recognizes employees through public
recognition. The company has an employee recognition program called "Coinbassador of the
Month" where employees nominate their colleagues for outstanding work. Winners receive
a certificate of recognition, a gift card, and their photo is displayed on a wall in the office.
This program helps build a positive culture of appreciation and encourages employees to
recognize their peers.

Coinbase also provides personalized notes of appreciation to employees. Managers and

colleagues can send a personalized note or card to an employee to thank them for their hard
work or congratulate them on an achievement. This simple gesture can go a long way in
making employees feel valued and appreciated.

Furthermore, Coinbase also offers promotions to deserving employees. Promotions not only
recognize an employee's hard work and contributions but also provide opportunities for
career advancement. By promoting from within, Coinbase promotes a culture of growth and
development, which can lead to higher employee engagement and retention rates.

However, employee recognition is not just about rewards and bonuses. It is also about
creating a culture of appreciation where employees feel valued and heard. Coinbase has a
company-wide culture of transparency and open communication. This means that
employees are encouraged to share their thoughts and ideas with management, and that
management is receptive to feedback. By listening to employees and acting on their
feedback, Coinbase shows that they value their employees' opinions and contributions.

Additionally, Coinbase also provides mental health support services and wellness programs
to help employees manage stress and maintain a healthy work-life balance. The company
recognizes that employee well-being is a crucial component of employee satisfaction and
productivity. By providing these resources, Coinbase shows that they care about their
employees' health and well-being.

Wellness programs:

Coinbase, like many other companies, recognizes the importance of employee wellness. In
order to maintain a productive and engaged workforce, it is crucial for the company to
develop a wellness program. A wellness program is a comprehensive plan that supports and
encourages employees to maintain a healthy lifestyle, both physically and mentally.

One of the primary benefits of a wellness program is that it can help reduce healthcare costs.
By promoting healthy behaviors, such as regular exercise and healthy eating habits,
employees are less likely to develop chronic health problems such as heart disease, diabetes,
or obesity. This, in turn, can reduce the company's healthcare costs by decreasing the
number of medical claims and insurance premiums.

Another important benefit of a wellness program is that it can help improve employee
morale and job satisfaction. When employees feel that their employer cares about their well-
being, they are more likely to be engaged and committed to their work. This, in turn, can
lead to increased productivity, improved quality of work, and better customer service.

Coinbase can develop a wellness program by starting with a needs assessment. This can
involve conducting surveys or focus groups to determine what employees would like to see
in a wellness program. Based on the results of the needs assessment, the company can then
develop a program that addresses the specific needs and interests of its employees.
The wellness program can include a variety of resources such as fitness classes, healthy food
options, mental health support services, and wellness challenges. For example, the company
can partner with local gyms or fitness centers to offer discounted gym memberships or
onsite fitness classes. This can encourage employees to be more active and adopt a healthier
lifestyle.

In addition to physical wellness, it is also important for Coinbase to address mental health.
The company can provide resources such as an employee assistance program, counseling
services, or meditation sessions. These resources can help employees manage stress and
improve their overall well-being.

Another important component of a wellness program is nutrition. Coinbase can provide

healthy food options in the company cafeteria or vending machines. The company can also
provide resources such as nutrition counselling or cooking classes to help employees make
healthier food choices.

Coinbase can also encourage healthy habits through wellness challenges. These challenges
can involve tracking steps or exercise minutes, eating more fruits and vegetables, or reducing
sugar intake. Employees can participate in these challenges individually or as teams, which
can foster a sense of camaraderie and competition.

Finally, it is important for Coinbase to promote its wellness program to its employees. The
company can use a variety of communication channels such as email, social media, or
intranet to inform employees about the program and its benefits. The company can also
provide incentives for employees who participate in the program, such as gift cards or extra
time off.
 Conclusion
In conclusion, the Human Resource department of Coinbase has several strengths as well as areas for
improvement.

One of the major strengths of Coinbase’s HR department is its commitment to diversity, equity, and
inclusion. The company has taken several steps to ensure that its workforce is diverse and inclusive,
including setting diversity targets and offering unconscious bias training. Coinbase has also created
employee resource groups to support underrepresented employees and foster a sense of community
within the organization.

Another strength of Coinbase’s HR department is its use of technology to streamline HR processes

and improve employee experience. The company has implemented various HR technologies, such as
applicant tracking systems and performance management software, to automate HR tasks and
provide employees with a user-friendly interface to manage their HR needs.

On the other hand, there are several areas where Coinbase’s HR department could improve. One of
the key areas is employee wellness. While the company does offer some wellness programs, such as
yoga and meditation classes, there is room for improvement in terms of the comprehensiveness of
the wellness program. The HR department can explore other wellness initiatives, such as on-site
gyms or healthy food options, to promote employee well-being and reduce the risk of health
problems.

Another area where Coinbase’s HR department can improve is employee engagement. While the
company does offer some engagement initiatives, such as regular communication and recognition
programs, there is a need for more personalized initiatives to cater to individual employee needs. HR
can explore ways to gather feedback from employees and develop customized engagement plans to
boost employee motivation and job satisfaction.

Moreover, the HR department could focus on providing employees with more growth opportunities.
While Coinbase offers some professional development programs, such as training sessions and
mentorship programs, there is a need for a more comprehensive career growth plan. HR can explore
ways to help employees set career goals and provide them with the necessary resources to achieve
them, such as tuition reimbursement or leadership training programs.

Finally, with the increasing trend of remote work, it is important for Coinbase’s HR department to
focus on building a remote work culture. This can be achieved by establishing effective
communication channels, implementing flexible work arrangements, and providing resources to help
employees manage work-life balance. HR can explore ways to maintain a sense of community and
foster collaboration among remote employees, such as virtual team-building activities and regular
video meetings.

Thus, the Human Resource department of Coinbase has several strengths, including its commitment
to diversity and its use of technology to streamline HR processes. However, there is room for
improvement in areas such as employee wellness, engagement, growth opportunities, and remote
work culture. By focusing on these areas, the HR department can continue to build a motivated,
productive, and engaged workforce and ensure the success of the organization.
 References
1. Aswathappa. K. (2008), Human Resource and Personnel Management (5th edition), Tata
McGraw-Hill Publishing Company Ltd., New Delhi.
2. Biswajeet Pattanayak (2001), Human Resource Management, Prentice Hall of India Pvt. Ltd.,
New Delhi.
3. Lloyed L. Byers and Leslie W. Rue (1997), Human Resource Management (5th edition), The
McGraw-Hill Companies, USA.
4. Michael Armstrong (1999), A Handbook of Human Resource Management Practice (7th
edition), Kogan Page Limited, 120 Pentonvelle Road, LondonContribution-
5. P. Subba Rao (2004), Management and Organisational Behaviour (First edition), Himalaya
Publishing House

Sources of data for report on Coinbase:

6. CB Insights
7. Coinbase
8. LinkedIn
9. Glassdoor

Contribution
Vidhula Pallavor- Introduction (Pages 1 to 13); Areas of improvement (Pages 34 to 38); Conclusion
(Page 39), Compilation

Albin Babu- Areas of Improvement (Pages 31 to 33)

Sanjayshanmugan sk. - Introduction to Coinbase and Success (Pages 14 to 19)

Tirumalasetti Bala Sai Vineeth - Success and HR’s role (Pages 19 to 23)

Siddharth V. Reddy -Coinbase’s HR policies (Pages 23 to 30)