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You have surely heard of companies such as PayPal, N26 and Dropbox. But do you know the VC behind these companies? We’re talking about Plug and Play – arguably one of the most active and well-regarded VCs in Silicon Valley. Their goal: funding the teams that are building the defensible businesses of the future. And the accomplishments of the companies in their portfolio speak for themselves.
Nevertheless, the success of their ventures is partly a result of Plug and Play leading by example, also in terms of New Work. But what does this actually mean to them? And how does the VC make sure that New Work is more than a shiny catchphrase?
“For us here at Plug and Play, New Work is a new philosophy that is all about mixing the culture of the company with new ways of living”, states Paloma Mas Pellicer, Events and Culture Manager at Plug and Play in Valencia, Spain. “It’s about making the life of all our employees easier and taking better of them.” She continues: “Of course employees have always been key, but now it is of utmost importance that employees really feel and embrace their work – and for example the office – as a new space in their lives. Not as an obligation. In the end, it is also about work being a part of life and not a duty to be able to live.”
While many companies have an idea of what New Work means to them, a majority actually struggles with putting it into practice. Defining and truly living New Work are two very different pairs of shoes. Nevertheless, Plug and Play also knows how to bring New Work to life – and technology plays a central role in all of it for Paloma. As New Work is a very employee-centered concept that is all about helping every person in a company thrive, companies often seem to forget about the benefits technology can offer in this regard.
“One of the things I love to highlight when it comes to how we as a company put New Work into practice is that we have a whole automation department that only takes care of technology for the employees”, states Paloma. “That means we have developed new ways of communication, easier ways to interconnect your life with your work … We really have installed a lot of tools to make work easier.”
And she points out: “We also provide perks to the employees that are really in line with the culture of the company. And that’s also key! It’s not about perks to provide perks. Instead, it’s about really providing benefits – and support – to the employees that are super aligned with the culture of the company. That is what really helps everyone feel the values of the company, to really fully understand them.”
When talking about interconnecting life and work, the conversation inevitably comes down to the question of work-life-blending or work-life-balance. Here, Paloma points out that this is not a black-or-white decision to be made – especially when talking about an international company such as Plug and Play. “We have more than 50 locations worldwide and we are a really multicultural, diverse company. That also means that some of our employees made the decision to move to a different city, a different country and to really bet on their career. So for us, it’s about making work part of their life because they have decided to basically create a new life for us.”
Being such a multicultural company also comes with the specific challenge on how to incorporate local ways of living with the overall company culture. “We obviously have a common philosophy here at Plug and Play. But it’s key to understand that every office kind of has its own personality and to really respect the culture of each city. Think about Ramadan, Chinese New Year or 4th of July in the States – these are really important times for some of our employees so we make sure to respect that, to not bother them during those times.”
But Plug and Play doesn't stop at official holidays and celebrations. Paloma also points out that different work cultures - like the typical 9-to-5 day in Germany - also play a role in collaboration. "If I know their workday ends at 5 p.m. and they want to go home and be with their kids, I'm not going to bother them after 5 p.m. every day. With all the technology available to us, it's so easy to really connect and feel connected to a person in just a second. But if you disrupt that connection, it will eventually break. So respect is key to maintaining that connection."
Another way to keep connections alive is to come to the office. Following the pandemic and the surge of New Work practices, the role of the office has changed drastically though. “I think no one still sees the office as just a place, just a workplace. Nevertheless, it’s tough. To really make everyone feel responsible for the office as a common space is hard work”, says Paloma. “It has proven to be difficult to make employees understand that the office should be a place in which they feel really comfortable as they spend a lot of time there.” To help with this transition, Plug and Play installed different areas in their Valencia office. You have a healthy corner where everyone can grab a snack, you have areas for relaxation and chatting and you can find several phone booths for more privacy and uninterrupted work.
“Although we provide all of these things, we also have to make clear to everyone that they are also responsible for all of it. Yes, we have a cleaning team that comes here, but it’s also the responsibility of every employee to take care of the office space, too. That’s how you create an office and not just a workplace”, Paloma points out. “It’s a place where everyone should feel comfortable – but not like home. I really hate it when people say the office is home. Absolutely not. But they should define the office as a nice space where they really like to spend time and they do not prefer to stay home instead."
But what does it take for employees to embrace the office – especially in times of remote work? “It might seem crazy, but the number one thing everyone asked me about was the temperature”, Paloma laughs. “But something else that was really important to our employees was the location of the office, the surroundings. Now that we have moved closer to the city center of Valencia, people are more excited to come to the office. And what I personally love the most about the office is that everyone comes here with such a positive attitude. I think that is what really makes it special.”
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