Remote working in the Bitcoin space is not unusual, but recently in the wake of global lockdown it’s become a topic of conversation for traditionally office-based companies. CoinCorner, a leading UK Bitcoin exchange, has said that unlike some of its competitors, it won’t introduce a remote working policy.
Danny Scott, CEO and Co-Founder of CoinCorner, commented: “It’s crucial to look at the long-term benefits for the health of a company and its employees, rather than the short-term.
Bitcoin is a notoriously fast-paced industry and it’s hard to keep up under normal circumstances while in an office environment and with the support of your team around you, let alone when home on your own. The learning experience that our team took from lockdown was that it didn’t bring benefits to our business, rather we were less productive overall and found it even more challenging to stay up-to-date with industry changes – and each other.
When employees are separated, they have to be consistently self-motivated to keep up, which, over time, is difficult to maintain and could lead to negative effects on mental health, as well as company productivity. Having your team working together in the same physical space is advantageous for ease of communication and socialising.
Here on the Isle of Man, we’ve been fortunate enough to have 0 community cases of COVID for over 100 days now, which has meant a fairly globally unique situation for us, meaning we’ve been back at the office as normal since June and with no social distancing in place. Our team went through 3 months of working from home and can now compare that to being back in the office for the last 3 months. Productivity at the beginning of lockdown was fairly good, but over the course of the 3 months, our team became less motivated and productivity dropped over time. Since being back in the office as a team, everybody is happier, more productive and able to support each other in keeping up with this fast-paced industry.”
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