Has anyone had to manage a former peer? I recently got promoted and now I'm managing my old team, including some close friends. Any advice on how to handle this transition without creating awkwardness?

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You'll need to make a decision if you are going to be a manager or be friends. Make expectations clear from the beginning, there'll be no special treatments. You'll also need to distance yourself, if you're not willing to do that then it won't work out.

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I agree with VP1. I successfully led a former team of peers and managed it the way VP1 suggested. I drew a clear line between leadership and friendship and didn't allow the friendship to change the leader decisions and had to make. We had a transparent discussion from the very beginning and set expectations for the business relationship. Be fair and consistent. Mutual respect is absolutely a must.

I disagree with CE1. It can work and it doesn't always mean ending the friendship to do it.
It is a delicate balance, though.

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I’ve had to manage a former peer, and a former manager as well.
You’ll need to demonstrate fairness in the way you interact and deal with the individuals in your team. As long as you clearly state and show that you are concerned with getting the maximum performance out of everyone in the team, and as long as you work with each person individually to understand and enable their own growth goals, you’ll be fine.

Continue being friends. But remind them your bills come first. If you ever have to fire them, let them know you’re going to buy dinner after and it’s no hard feelings, it’s strictly business in office. End of story. Then be fair & aware.

I've had to and it doesn't have to be awkward or difficult unless one of you makes it that way. You can both still be professional even though you are now that persons boss.

I've been on both sides of this. For me it has worked out remaining friends because work was work, simple.

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