Business
Robinhood CEO Reverses Remote Work Policy, Mandates In-Office Presence
Robinhood CEO Vlad Tenev has changed course on remote work by announcing a new return-to-office (RTO) policy. In a podcast on the Cheeky Pint, Tenev shared that executives at the $100 billion fintech company must now work in the office five days a week. Managers are required to be present four days a week, while individual contributors need to come in at least three days a week.
Tenev admitted that his decision in 2022 to allow a remote-first approach was a mistake. He emphasized that leaders should experience greater challenges than their teams, stating, “your manager is going through more pain than you.”
This policy shift comes as major tech firms like Amazon and Microsoft also tighten their in-office work requirements. Amazon has recently eliminated the practice of “coffee badging,” which allowed employees brief visits to the office. Instead, the company is enforcing minimum hours for in-office days. Microsoft is reportedly following suit, tightening its policies after allowing remote work without prior approval.
The trend signifies a significant move back towards in-person collaboration, particularly for leadership teams. Tenev’s revised stance reflects a broader shift within the corporate world, as companies adapt their workplace strategies in response to both employee feedback and the needs of their organizations.
<p“Being in the office helps employees learn, model, practice, and strengthen our culture, as well as collaborate, brainstorm, and invent more effectively,” said Amazon’s CEO Andy Jassy in September 2024, echoing similar sentiments about in-person work.
<pDespite these changes, employees are resistant to returning to the office full-time. A recent survey found that the possibility of remote work is now a priority for many workers, even ranking higher than salary. Approximately 70% of remote workers stated they would consider leaving their jobs if required to return to the office full-time without a pay increase.
<pRobinhood’s new office policy highlights Tenev's focus on accountability from leadership. By demanding that executives have more in-office presence than the general workforce, Tenev aims to establish a culture of example-setting and reinforce the company's core values.
