At a time when many companies in the financial services industry are calling for employees to return to the office, always-maverick online broker Robinhood (NASDAQ:HOOD) has decided to go the other way.
Robinhood issued a brief note today saying that it will be staying primarily remote. In December the company shared with its employees that its mission to “democratize finance for all” started with its own people, and that meant bringing in and supporting “Robinhoodies” who can best help drive the mission forward – no matter where they’re based.
In the last two years, Robinhood said that it has seen how flexibility and trust allows teams to do their best work, attract top talent, and create a workplace that’s more inclusive and equitable. Teams have done amazing work and built a strong workplace community during these uncertain and challenging times, and the company said it is excited to continue to offer them the flexibility they’ve asked for by staying primarily remote.
With a primarily remote approach, Robinhood provides employees with the flexibility they need to work where they are most comfortable and productive (whenever it can). For a large segment of employees, there will be no location or regular in-office requirement, and teams will come together in-person occasionally for key experiences and moments that drive connection and innovation. Some teams will need to live within a commutable distance to an office location due to regulatory and business reasons, and a small segment will still need to come into the office. All employees will have access to offices located across the country with Safety First protocols in place.
Robinhood added that as we move forward, the company is committed to continue learning, listening and creating a flexible, accessible and great workplace for everyone.
Making primarily remote work was only possible because of the creativity, empathy and determination of Robinhoodies. But the company said it also recognizes that remote work can create unique challenges for people from underrepresented groups. Throughout the pandemic, women, Black and Latinx employees across the country have left the workforce at an alarming rate. That’s why Robinhood is committed to making sure its model works in a way that supports inclusion, equity and belonging including fostering and empowering various employee groups.
Robinhood’s employee-led groups thread its culture together and help employees build relationships across offices and time zones. To make sure people have access to diverse networks, the company is finding new ways to cultivate community and create a consistent experience within and across offices and remote hubs. Robinhood will continue to provide a supportive and accessible environment for current and new employees to excel and work comfortably from home, while also ensuring a sustainable transition to primarily remote. For instance, the company is implementing people manager training and resources to ensure an inclusive experience for all communities – including disrupting proximity bias.
Robinhood is also looking at new technology to make the process of working with others across remote and in-office spaces easier and more inclusive. It will be reimagining the way that its teams work together effectively across time zones in ways that support well-being and productivity from anywhere. The company is also rolling out programs like an inclusive mentoring program that supports allyship and development for underrepresented groups like women, Black and Latinx hoodies in engineering. Primarily remote is a great opportunity to help build a more inclusive financial industry—one that better reflects the country’s population as a whole.
Robinhood said that it is a lively, impassioned, and supportive workplace, because its employees bring their passion and care to their work. Despite the distance of remote work, and the hyper-growth of Robinhood over the last year, being a Robinhoodie means being connected to a strong community united by a mission to democratize finance for all, and the company said it looks forward to seeing its culture continue to flourish.