Talent Density: An Update on Structured Assessments
Tl;dr Coinbase's new cognitive and cultural hiring assessments, introduced to boost Talent Density, have yielded impressive early results. With all-time high application volumes, this rigorous evaluation process has led to a marked improvement in the quality of new hires. Despite additional steps, our hiring speed remains efficient, reinforcing our commitment to attracting top talent who are aligned with our mission and culture.
At Coinbase, we are committed to having exceptional people in every seat. Our strategic focus on Talent Density is a testament to our belief that top talent is crucial for achieving our mission. In November 2023, we introduced five new measures to drive this effort, including new cognitive and cultural assessments. These structured assessments aim to standardize evaluations, reduce bias, and foster a meritocracy.
Just five months in, the results have been very promising:
Increased Application Volume: Since raising the bar, interest in working at Coinbase has only increased and is now at all-time highs. In the first half of this year, we received ~500,000 applications and made ~500 hires. With only 0.1% of applicants receiving an offer, it’s more competitive than ever to get hired here.
Strong Assessment Completion Rates: 63% of candidates complete the assessments within three days of their two-week deadline, and 83% complete them overall. Though these assessments appear to add some friction to the candidate experience, they provide such valuable data to predict performance we see the trade-off as worth it.
Enhanced Cultural Alignment Through Self-Selection: In determining whether to invest the effort into these assessments, some candidates decide they aren’t aligned with our culture and choose not to move forward. This is a feature, not a bug. It’s our firm commitment that no candidate should join Coinbase with a false sense of who we are and how we operate.
Exceeding Benchmark Standards: 75% of candidates who completed the assessments met or exceeded our benchmark ranges, and 97% of offers were made to candidates within these ranges. Read: test scores are a highly-regarded input, but not the only input in making the right hires. We also look at extraordinary real-world achievements, unique skills or experience, and outstanding interview performance.
Maintaining Speed and Efficiency: Our average time to hire has held steady at ~50 days. We’ve learned from past experiences and now prioritize quality over speed. This approach has not slowed us down, even with the added steps in our hiring process.
The early results of our structured assessments are encouraging. We are seeing high application volumes, high test completion rates, and insightful data that inform our hiring decisions and drive talent density. We will continue to monitor and refine our benchmarks to further increase talent density and minimize bias.
It’s never been harder to be hired at Coinbase—and that’s by design. For those who are purpose-driven, high-achieving, action-oriented, and believe in the potential of crypto, there is no better place to be.
About L.J. Brock
L.J. Brock is the Chief People Officer of Coinbase, where he oversees the company’s employee experience with a focus on hiring, total rewards, learning and development, diversity and inclusion and workplace operations. Prior to Coinbase, L.J. served as Senior Managing Director and Chief People Officer at Citadel LLC, one of the world’s largest hedge funds. He also spent more than eight years at Red Hat, a global open-source software company, as Vice President of Global Talent Group and People Infrastructure. L.J. received a Master’s in Business Administration from Georgia State University and is a graduate of the University at Albany, SUNY.
