The Paperclip Mandate

When I started my first job out of college at Bear Stearns, my orientation didn't feature a lavish welcome package or a slick corporate video. Instead, I was handed a simple brown paper bag containing a few paperclips and a note from CEO Ace Greenberg. The message was blunt but unforgettable: be frugal, be careful with these resources, and treat the firm's money as if it were your own because every penny saved serves the best interest of our clients. That brown paper bag wasn't just about office supplies; it was a profound tangible way that the CEO set the cultural tone from day one, embedding a mindset of rigorous discipline across the entire organization.

Bear Stearns was a prestigious investment bank in New York City and it was highly competitive to land a spot in their management training program after college. Showing up for work in my shined shoes, pressed white shirt and tailored business suit and tie, I was not expecting to be handed a brown paper bag of paperclips on my first day. That experience has stuck with me for thirty plus years.

I left that hyper-competitive investment banking world after just a year to take an HR role at Golden Book. This was a shift that shaped my entire approach to organizational development, but Ace's paperclip mandate stayed with me. It became the lens through which I evaluate how leaders align their stated values with their actual behavior.

Over the years, I have watched countless executives preach fiscal responsibility to their teams while flagrantly treating the company funds like a personal slush fund. I am talking about leaders expensing valet parking at the airport, paying porters to carry a single piece of hand luggage to their room, DoorDashing coffee when there is a perfectly good coffee machine down the hall, taking an Uber Black "just because," or buying a tuxedo for a corporate event instead of renting one and charging it back to the company.

When leadership acts this way, they expose exactly where the company's stated values are failing the "say/do" ratio. Company culture is defined not by the core values printed on the lobby wall, but by the worst behavior leadership is willing to tolerate. Treating company resources like your own money has to start at the top. If an employee violates a core value but consistently hits their performance numbers, how leadership handles that "say/do" gap dictates the true operational reality of the organization.

If you want to build a culture of accountability and respect for company resources, you have to move beyond aspirational posters. Here are three actionable ways executives can operationalize their culture and close the say/do gap:

1. Model the Behavior (Or Don't Bother)

You cannot demand frugality from the rank-and-file while riding in an Uber Black. Executives must actively build an environment where employees feel they are working with leadership, rather than just working for them. That shared alignment only happens when the executive team is visibly modeling the exact behaviors they expect from the organization. I worked for a boss Robert Zafari at Ingersoll Rand who always said to his admin, “choose the restaurant within walking distance of the hotel”.  A simple requirement, but it saves time and money.

2. Move from Passive Definition to Active Interpretation

Values mean nothing if they only exist on a corporate website. Challenge your executives to translate your core values into difficult, real-world business decisions. If your value is "Frugality" or "Resourcefulness," what does that actively look like when booking travel for a major conference? When you force leaders to justify values in practical, behavioral terms, it eliminates the gray areas where reckless spending hides.

3. Build a Cultural "Stop Doing" List

To make room for new initiatives and cultural alignment, there must be a ruthless commitment to eliminate distractions. Making forced choices is the root of a solid strategy. Ask your executive team to identify one ingrained habit or process they must immediately put on their "Stop Doing" list to truly live out your core values. If your team claims to treat company resources with respect, what luxury or convenience are they willing to stop doing today?

Whether you are managing a multi-million dollar operating budget or handing out a few paperclips, how you manage the small things broadcasts exactly how you will handle the big ones. True resilience and organizational health require a leader who actively models the discipline they demand from everyone else.

What is the most egregious example of executive spending or cultural say/do hypocrisy you’ve witnessed in your career? Drop your story in the comments (company names changed to protect the guilty)—or share the best way you’ve seen a leader visibly model frugality.