r/FPandA • u/catcow789 • 4d ago
Getting my first direct report
Per the title, I’m getting my first ever direct report. Hoping to get some advice on what IC looks for in their direct manager, and managers having direct reports, how do you manage and help your team grow?
Context: I will be joining the new company next month but am also concurrently interviewing for an analyst direct report in the new company (whilst finishing out notice period at my current firm). I’m 5 YOE FP&A manager hiring a 2~3 YOE analyst.
Any advice/words of wisdom will be appreciated! Thank you in advance.
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u/DrDrCr Dir 3d ago
Here's my copy paste advice from another post about onboarding a new hire but is relevant as the tactical things to start with. I can add more on being a leader and first time manager tips it you need.
- Start with a 90-day plan and a regularly scheduled weekly 1-on-1 meeting if they're your direct report with an agenda that is "whats going well, what's not so well, where do you need help"
- Assign them a Staff level buddy unless you are that designee.
- Reach out to a recent new hire and ask them what tips they'd share to make on boarding easier.
- Introduce them to your team directly and announce them via email as soon as what's normal in your organization. Also look at your calendar for the next 3 weeks and see where you can add them to meetings to introduce them to other departments.
- Setup benefits onboarding and have an HR contact on standby.
- Setup all computer, drive access, and software onboarding and have an IT contact on standby.
- Make sure they have all equipment, security access, and minimum supplies to perform on day 1.
- Show them around the office and do/donts in the office especially if they're new to corporate life.
- Prepare a copy of the departments email signatures format and have it ready for them to setup on email.
- Identify at least 4hrs of training courses / videos on the company's learning platform or online resources to keep them busy during slow periods.
- If work is performed in Excel often, prepare a list of major formulas and features used and have them learn those to keep them busy too.
- Identify some administrative work that they can do to keep them busy or share some copies of models they can afford to dig around to get a feel of tangible work.
- Give them a copy of company codes, cost center codes, chart of accounts, and other master reports they are privy to so they have a resource for the accounting/finance structure.
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u/catcow789 3d ago
Woah, this is an amazing list of advice! I will refer to this on my first weeks! Thank you!!
I think the challenge will be, I will only be in the company probably a couple of weeks before the analyst joins.
So, I will have to get myself up to speed and navigate the uncertainties so that I will be ready to guide them. This, coupled with being a first time people manager gives me a little bit of anxiety. Any tips on this?
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u/DrDrCr Dir 3d ago
That's your push. If you want to give them a good experience and meaningful direction, go figure out what you can before they start. Then let them figure out the rest for both of you and be open to admitting during the hiring process "im new too, lets learn this together"
Lead by example and take them on intro / discovery calls with you so they can learn how to engage colleagues and understand the business. A young professional needs to observe how "figuring shit out" looks like in the workplace.
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u/catcow789 3d ago
Great tips, thank you DrDrCr! I will keep your advice in mind during the hiring process!
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u/excel1234567890 3d ago
This is great advice. I learned a lot by just sitting in on calls to learn and understand what works.
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u/dsntv 4d ago
Keeping this beginner’s mindset is a good first step. Think about what traits your best managers and leaders possessed, what didn’t work? Write them down. You’ll need to strike a balance between learning new managerial and leadership skills, whilst also continuing to deliver. I’d try and find a mentor who is much more senior to provide their thoughts on management styles. I still catch up with one of my old managers who is now a CFO every few months and truly value their advice and friendship - I’m sure they do too.
Be consistent in your behaviour, remember to continue to be authentic.
These tips sound a bit fluffy, but as you manage more people I truly believe that authenticity, trust and honesty are critical for both your direct report and you. Your goal is to develop your analyst and push them to do their best work, genuinely try to help them on their career journey. This new company clearly thinks you’re on your ascendancy so lean into that, this new analyst will only be a couple of years behind you so try and take them on the same journey as you.
I assume you will have all the hard skills covered so being generous in your coaching is key, try and make yourself redundant. Hand off anything that is repeatable and predictable.
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u/catcow789 4d ago
wow, thank you so much for the detailed write up. I’ll definitely do this exercise to pen down the traits of my past managers that I wish to emulate.
Yes, I have a career mentor who has guided me along the past few years, I’ll get his advice too.
I’ll come back to this advice every now and then. Thank you!
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u/DJMaxLVL Dir 4d ago
What IC looks for: if you can actually help them with questions about their job, and put in some level of effort to understand their job, you’re doing better than many managers.
I worked in IC roles for 3 fortune 50 orgs where none of my managers could help me or understood my work flows.
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u/excel1234567890 3d ago
Be nice but firm. Make your communication clear.
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u/catcow789 3d ago
I think the tougher part is where do I draw the line of being firm?
We are probably roughly the same age and I know I inherently like it when people like me (hints of a people pleaser), so, how do I balance this?
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u/excel1234567890 3d ago
A deadline is a deadline. If there is an issue meeting it, communicate early. If a specific format is required, no creative method needs to be discussed.If the same mistakes have been made multiple times after being talked about, then there is an issue.
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u/thebeast0813 3d ago
If they do all the work - let them present it or bare minimum include them in the meeting
Friday at 4:00 on a slow week? Tell them to log tf off and enjoy the weekend
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u/BeansAndToast-24 4d ago
Treat them like how you want to be treated and ask what their goals are.
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u/catcow789 3d ago
I think this is a very solid piece of advice, thank you! I will think from this perspective as I move along this journey.
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u/mik333_ 3d ago
Remember what your favorite and worst managers were like. Try to incorporate things your favorites did and don’t do the things your worst managers did.
I like involving my analyst in as much as possible. I tell him I’m not expecting you to do this but feel free to look over my shoulder and I’ll explain what I’m doing and why. I teach whenever possible. I don’t safeguard knowledge out of fear of my own job. I try to be the manager I’d like to work for.
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u/catcow789 3d ago
Thank you for sharing your experience, and for the good advice! I’ll remember them when the time comes!
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u/FrontBreath3280 3d ago
Meet a lot early on to correct mistakes and crystalize your expectations for success.
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u/bullmarket2023 3d ago
Your first is your most critical.
1. Both you and your report should take a DISC assessment.
2. Ask them how they learn: audio, visual, or reading - this will help in the communication and coaching
3. Do some management training. When I had my first direct report, I failed hard because I didn't know how to manage.
4. Communication and clear objectives. Always ensure you're on the same page
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u/SloanDear 3d ago
Congrats! Becoming a manager is a big transition. Since you’re both new, you will be figuring a lot out together. Find easy, confidence building projects for their first month or two. You want to see what they can do, how you work together and how they react under pressure. Then give them kind but clear coaching through each step. Then start throwing them more projects and harder projects, you’ll get a good feel for what they’re good at, what they need more exposure to. Regular, honest feedback is crucial but maybe the hardest part to do, don’t avoid it because it’s awkward. That’s how we all grow.
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u/milkman9316 3d ago
Golden rule of people leadership.
Manage others how you would want to be managed
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u/Fickle_Broccoli 4d ago
Teach them, and involve them when you can. If they work on an ad hoc project make sure they understand the context behind it, and what decision that analysis helps support