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1. Lay down the ground rules right from the start. Speak to each one of your friends privately and inform them that friends or not, business is still business.
Keep your tone pleasant but firm, and let them know in no uncertain terms that they're still required to follow the rules just like everybody else. Tell them know that you will not tolerate them taking advantage of your friendship in any way, shape, form or fashion.
2. Treat your friends the same as the other employees. No better, no worse. If you don't, the other employees will take notice that you're showing favoritism and you will quickly lose their respect.
3. Don't have lunch or take breaks with your friends, unless other employees are also included in the group. Remember, people are watching and appearances are everything.
4. When evaluating your friends for raises and/or promotions, make sure the aforementioned raises and promotions are warranted and based solely on job performance, not friendship.
5. Do not discuss other employees with your friends at any time.
6. Outside of the workplace do not discuss job-relatd issues with your friends.
7. At office parties, picnics, etc., be aware of seating assignments. Do not associate solely with your friends. Again, make sure other employees are included in the group.
As you can see, managing your friends can be quite a balancing act. But if you just remember to treat all employees equally, you should be able to manage it quite nicely.
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