Week One: Organizational Culture at Lincolnshire Management
While reflecting upon my first week at Lincolnshire Management, I realized that working in an established private equity firm, with an entirely male executive staff, was not at all like what I had expected. Entering into a field as rigorously competitive as finance, I expected to have a rigidly structured day, with specific tasks and assignments to be submitted at certain intervals. To my surprise, my days spent at Lincolnshire Management are anything but structured. For example, this week at Lincolnshire, I’ve edited NDA’s, completed financial models, taken 2 hour lunches with executives, and even sat in on meetings with the CEO. Each day has delivered a new opportunity to experience, listen, and learn.
As is quite typical of corporate culture within the investment industry, the lower ranking members of the company are expected to arrive at work before their bosses, and leave work after their superiors depart. Although Lincolnshire does stick to this practice, in actuality it is quite more lenient than I ever expected. There is no formalized system of clocking in and out, because employees are paid by a daily rate. Subsequently, many employees choose to work the hours that work best for them. Specifically, my boss David, a University of Richmond alumni, arrives between 9:45-10:00am, and leaves at 7:00pm on any typical day. I found this practice of not logging hours extremely intriguing. Instead of working 9 hours a day, employees at Lincolnshire can complete their work as they please, within reason of course, during the work day. This places an extremely large burden of responsibility on employees, since neither they, nor I, are constantly being supervised or watched in the office. I’ve found that as a result of this policy, all of Lincolnshire’s employee’s are self driven, extremely motivated, and excited about what they do each day.
Further, the employees at Lincolnshire Management communicate extremely well with one another. Most messages and approval requests are communicated through short face to face meetings, rather than over email, as I had previously expected. Additionally I believe that the open layout and glass offices help to foster communication between employees and allow information to flow easily throughout Lincolnshire. Most employees, including me, choose to leave their office doors open and welcome short friendly conversations from any employee passing by. I have felt welcome at Lincolnshire from day one, and I believe that the small size of the firm was integral for my quick and easy acclimation and integration into the company.
I’m glad that some of your assumptions about the culture of a finance organization have been challenged; there are exceptions to typical operating structures/procedures. So did you learn about the values, expectations, norms, etc. through a structured orientation or did you come to understand the culture through observation and participation? There is research out there about not having employees document hours as well as not having designated numbers of sick and vacation days; they find that employees don’t abuse the autonomy and if anything, work more/longer (less absences, etc.). Would be interested to learn if there is any use of virtual communication (messaging, work-flow/project management software, etc.) and how that complements (or does not) the face-to-face communication. I encourage you to considerhow your site’s context (type of industry or history) affects the way it functions and is led, including whether the site’s context requires the leadership to be more attentive to certain issues than to others. Such reflections will be helpful when completing academic assignments this fall.