What is Lateral Hiring?

What is Lateral Hiring?

Lateral hiring is a recruitment strategy in HR management in which companies look for experienced employees working in senior roles at companies. This is different from traditional recruitment because in this case, the company does not look for freshmen; rather, the recruitment team looks for someone from another company who is working in the same position that they want with the same salary. The main purpose behind this hiring is to hire someone who is already experienced and has sufficient skills and knowledge for the job role. In this article, we will learn about the process of lateral hiring and its advantages and challenges....

Advantages of Lateral Hiring

There are multiple advantages to lateral recruitment for both employees and employers, like:...

Challenges in Lateral Hiring

1. Cost: The main challenge which arises when thinking about lateral recruitment is its cost. For hiring skilled, experienced talents from other companies, companies have to provide good compensation offers such as high salaries, more benefits, etc., which would be expensive for the companies. This is especially true for those companies which are having economic downturns....

Step-by-Step Guide to Lateral Hiring

Step 1: Understand your need and define a role accordingly...

Conclusion

Lateral hiring is done mostly for senior roles in the company because the employees hired through lateral hiring are experienced and generally hired in the same role they did before in another company. This will have a lot of advantages for the employees as they help in maintaining a good balance, they don’t need much training and have leadership qualities. But to benefit from it, employees should be assessed properly and on different bases. This is a strategy that companies use to grow in a fast-changing world....