I am directly managing a new hire fresh out of school in a growing firm and have never managed someone under me before. The hire is very intelligent and has the potential to succeed, but has never worked in a high paced office environment before. Does anyone have any tips for how to train them to take over my role as the company grows? Some key objectives I'm looking to develop are 1) ownership over projects, 2) organization/time management, and 3) proactive work ethic.
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Can you provide some more color on what type of stuff this person will be doing (or at least ideally)? Like, research, underwriting, marketing, combo of everything, etc.?
Acquisitions focused - underwriting, transaction coordination, due diligence reviews, etc
Some of the inexperience is not knowing what to look for or do in each document which is certainly trainable, but I've having a much harder time with the intangibles like ownership over work product to make something as HQ as possible before its presented. When I emphasize these principles directly, there is only marginal improvement in a specific task (that subsequently takes 5x longer than it should) and it doesn't follow to future assignments. I want to be a good manager without being too harsh, but my natural style is more "I'll show you once then you should know how to do it" but even after going over things 3+ times its not sticking. I feel like I need to light a fire under their ass but don't want to come off being too harsh. Especially as things start to slow down around the holidays
1) ownership over projects,
make them pitch the deal or turn in the final product. then their performance is public and they feel like they own it they also feel like they'll get the credit for doing a good job.
2) organization/time management,
set a standard for quality and a strict deadline... they'll get crushed for a while and then figure it out on their own. if you have anything helpful pass it on to them
3) proactive work ethic.
Hustle is not something you can teach. As a side note on this topic... If they have downtime and you know about it, don't try to push arbitrary shit on their plate to keep them busy, they already work very hard and i remember that was the most annoying shit when someone did that to me. Also when they did that i would drag out projects so i had no downtime and turned them in right at the deadline. If they've gotten their work done and did a good job let them rest.
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This is pretty good advice, nothing really to add further.
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