Lateral hiring from the perspective of an organization defines the talent recruitment process across the internal operations. It is considered to be a strategic hiring that would contribute towards the goal of the company.
By the literal meaning, lateral means movement in the same level. Therefore, the concept of lateral hires means hiring candidates who have relevant soft & technical skills. This process is well-networked across industries and hence makes it one of the most important hiring practices.
During the time of lateral hiring, the recruiter has to examine the job skills of the appearing candidate through interviews with the help of a number of HR tools.
Publicity is the most common way of knowing about the candidate, but analyze the pattern of the popularity shouts. Word of mouth marketing has its share of privilege like the recruiting process becomes easy; you know already that the candidate has all the skills you require; just the incentives are to be served.
In the digital age of today, a candidate has the advantageous position of fishing, where he can self-promote his skills that in turn may not be golden as they appear to. The hiring and selection process, in this case, can be made foolproof through a thorough monitoring of the resources speaking highly of the person’s skills.
So, the hiring process timeline of lateral hiring must have the following four questions that reflect the true characteristic of the candidate, professionally:
- Is the candidate content with the current placement?
- Does he have the skills that are overlooked in the job?
- When offered, is a better package enough to attract the candidate?
- Can a position be created in the new company to fill that place?
At the time of the selection, once the package and the negotiations are discussed and finalized with the candidate, the steps of processing will begin.
The organizations hire an expert talent that will take the business to a newer high fetching in better economic benefits in the competition. Unlike hiring a fresher, you will not have to train the basics to the lateral candidate, as he or she will be well-versed from before. You just have to brief them about the role and objective of the job and then the required assistance on the organization’s behalf.
Here are the advantages of lateral hiring
- With lateral hiring, the company increases the chances of amplifying the beneficial economic channels of the growth.
- Fresh skills and inputs are implemented in the operations of the company enhancing its productivity.
- Lateral recruitment only hires eligible and talented candidates; therefore, no need to worry about employee quality.
- The competition rises within the company and also in the industry as a talented employee invigorates the inspiration to perform better in the existing workers and also the improved company performance intrigues the boosts the competitors to raise their bar delivering excellence.
- The skilled recruit(s) brings in new creative ideas to do a particular job, therefore breathing freshness in the project deliveries.
- Since the lateral recruitment is hiring the candidate from outside, there will be lesser to zero occurrences of unwanted workplace politics.
- The fairness in the workplace culture is visible and evident.
- The most significant perk is that the new recruit will be bringing in new ideas that he or she had been working with at the previous employer.
Now for the disadvantages of lateral recruitment
- Recruiting from a different industry can most of the time be detrimental for quick growth. With the limited understanding of the work ethos of your company, the newly (and laterally) recruited employee may not perform as expected.
- Training the recruit from ground zero about the company is very much time consuming and drains unnecessary resources from the company.
- There may raise internal disputes in between the existing employees of the company and the new recruitment with lots of professional differences across many ends.
- Many agencies being the middle-man of lateral recruitment processes for many companies turn out to be dubious by referring to fake profiles or forged documents.
- Automatically, in this case, comes the legal risks. Yes, lateral recruitment does come with this possibility where the recruit may be lesser skilled than his or her documents speak of.
The execution phases of lateral recruitment for employers
- The preliminary stage is to shortlist the potential candidates as per their skill sets, competency and organization requirement.
- Then follows the data mining of the applicants’ records, experience and testimonials that give a clear picture of the transparency of their claims. Also, check the references.
- A session of a one-to-one interview or digital assessment will help you to come into a conclusion about the selection of the right talent.
- The final phase of lateral recruitment commences with discussions and bargains and the final agreement between the employer and employee.
Are you, as an HR, considering lateral hiring in your company? It is indeed a prevalent among types of hiring process. So it is your job of utmost importance to investigate the background of the candidate as he or she does not have any CV to refer to. A lot of research is to be done. Also, the inclusion of a digital assessment platform in your HR process can prove to be of immense help.