Fintech Brex CFO Michael Tannenbaum Recommends Providing Special Benefits to Remote Workers so they Feel Valued during COVID-19 Crisis

Michael Tannenbaum, the chief financial officer at Brex, a Silicon Valley Fintech Unicorn, notes that many people today are working remotely.

Tannenbaum, who’s also the chief business officer at Brex, says that we might be at risk in some ways of losing “the culture and vibrancy and connection” to employers that the office environment provides.

He recommends:

“One way to compensate for that is to offer additional benefits to employees, so they feel that they’re still in the mix with their company. Some of the things I’ve seen in that regard are utility stipends, meals stipends, at home office benefits for furniture, potentially offering shared office space in new cities. All of these cost money, but I think all of these are options you should be considering.”

As mentioned in an update shared recently with CI:

“After nearly six months of many businesses adjusting to the work from home lifestyle, Fintech unicorn Brex had [decided to become] a remote-first company moving forward, disrupting the offline experience entirely. Brex will have office hubs in major cities where employees can work, but all of its processes, communications and culture will be designed remote-first. As a company shifting its entire operations to a new paradigm, Brex truly believes working from home has a chance of being even better than the office environment.” 

The Brex team explained that this should make it easier for them to recruit talented, diverse professionals regardless of their geographical location. This approach should also give employees the flexibility to live wherever they want.

Remote working solutions are increasingly being developed because many more people are now working from the comfort of their homes to avoid the further spread of the Coronavirus.

Plaid, Twitter, Slack Investor – Spark Capital recently led a $30 million Series B round which invested in the operations of Deel, a remote working Fintech firm. Deel’s round came shortly after the company revealed it was launching operations across Europe in August 2020. Deel offers assistance with compliance, payroll, and taxes.

As reported last month, the Omnipresent Group, which focuses on offering assistance to remote workers, had secured $2 million in seed funding. The company claims that it acquired the funds “within six weeks” of the COVID-19 outbreak, so that it can offer a viable solution to support what it calls “the remote work revolution.”

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