3 Things all new

Managers
should be doing
By: Febisola Oyeniyi

March 2024

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 Contents

Introduction 01
Accept that Social
Relationships have to 02
change

Clearly Communicate
Expectations 03
Maintain Boundaries
04
Conclusion 05

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 The struggles of being a Manager for the first time

Lack of Training Performance vs Management

59% of managers received no training Highly performing individual

before assuming their role, contributors often struggle as
exacerbating the challenge of managers due to shift in focus from
supervising former peers personal performance to team success

Skill Gap Overcoming Challenges

Transitioning to a managerial role Recognizing the need for skill

requires different skills and behaviors, development and learning new
which many new managers fail to approaches are crucial steps for new
recognize and address managers to succeed.

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 Re-evaluate your relationship with former peers
It’s essential for new managers to understand that the dynamic with former peers must change, and
attempting to maintain friendships can blur lines of authority

Relationship Dynamics
Not all former peers may be supportive of your promotion, leading to potential
Key Takeaway
resentment or discomfort in the workplace
Acknowledge and navigate the changes
in relationship with former peers by
establishing clear boundaries and
Managerial Evolution
maintaining professionalism to
While modern management emphasizes collaboration and empathy, it doesn’t
effectively lead your team.
equate to being equals with direct reports

Social Boundaries
New managers may find themselves excluded from informal gatherings, signaling
a shift in relationships.

Managing Expectations
New managers must establish clear expectations to avoid confusion and maintain
professionalism

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Who is responsible for what
New managers should clearly outline responsibilities and roles within the team to avoid confusion and
establish partnership dynamics

Key Takeaway
By clearly communicating roles, Open Objective Setting Boundaries
boundaries, and expectations, new Communication Feedback
managers can foster a positive and
productive work environment while
effectively managing their team’s
performance.

Encourage team members to approach Provide regular and early feedback to Communicate the manager’s role in
the manager with any issues or employees, addressing performance dealing with higher-ups and emphasize
problems and foster an environment of issues objectively and helping them a hands-off approach to
trust and collaboration understand areas of improvement. micromanagement

​2023 Annual Report: Business Model and Strategy 5

Where do you draw the line.
Resist the urge to become a friend or therapist to subordinates and instead direct them to appropriate
resources for personal issues

Key Takeaway
New managers should establish and
maintain boundaries to navigate Fintech
relationships with former peers, address
performance issues, and uphold
professionalism in the workplace.

Communicate Focus on Workplace Involve HR when

Confidentiality issues necessary

New managers must clearly When addressing performance or

communicate the importance of
confidentiality and discretion to
avoid misunderstanding with former
peers.
Know when to involve HR or other
motivation problems, concentrate on
experts to fulfill legal obligations
workplace-related factors within
and effectively manage employee
your control rather than delving into
situations beyond your expertise.
personal issues.

​2023 Annual Report: Business Model and Strategy 6

 Thank you

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