How to Lead Your Former Peers When Taking on Your First Management Role
Jul 23, 2022
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Mamie Kanfer Stewart discusses the challenges investment experts face in their first management role. Topics include leading former peers, delegating effectively, combining friendship with new responsibilities, and having tough conversations for accountability.
Transitioning to management requires new skills in communication and relationships.
Managing former peers involves balancing friendship with new authority roles.
New managers should acknowledge insecurities, address imposter syndrome, and build confidence.
Deep dives
Transitioning from Expert to Manager
Moving from being a high performer to a managerial role may happen due to expertise in a specific field. However, being a manager requires a new set of skills, focusing more on interactions and relationships. It's crucial to approach the role with an open mind and a learning orientation to adapt to the challenges of managing people effectively.
Challenges Faced by New Managers
New managers, especially experts in their fields, encounter hurdles when transitioning into management roles. The need to shift from being the expert to a coach or advisor poses difficulties. Managing former peers can create tension in relationships, affecting the dynamics and requiring a balance between friendship and managerial responsibilities.
Handling Imposter Syndrome and Losses
Imposter syndrome and feelings of loss are common among new managers. The fear of inadequacy and the changes in roles can lead to insecurities. It's essential for new managers to acknowledge these feelings and work through them to build confidence and adapt to their new responsibilities.
Setting Expectations and Holding Accountable
Setting clear expectations and discussing timelines upfront is crucial for effective management. When issues arise, having tough conversations by addressing facts, impacts, and seeking mutual solutions helps in holding team members accountable. Balancing friendship and authority requires clear communication and boundaries.
Managing Different Work Styles and Overcoming Friction
Dealing with varying work styles among team members can lead to friction. Acknowledging and addressing these differences constructively, finding common ground, and allowing for diverse perspectives can enhance collaboration and contribute to a more effective working environment for investment experts transitioning into management roles.
Mamie Kanfer Stewart is an executive coach and the host of The Modern Manager podcast. In this episode, she talks about the challenges investment experts face when taking on their first management role. You’ll learn how to lead your former peers, how to delegate, how to combine friendship with your new role, and how to have tough conversations to keep your people accountable.