Lateral Hiring Definition
Lateral Hiring is a method to find and recruit professionals who are currently employed in a role within the organization in a similar position to the one your company is looking to fill. These professionals are considered passive candidates, meaning they are not actively seeking job opportunities.
Table of Content
Process of Lateral Hiring: A step-by-step guide.
Understand the Requirements and Define the Job
The crucial step in this process is for organizations to fully comprehend why they are engaging in Lateral Hiring. Both the hiring manager and department head must have clarity on the purpose behind this kind of recruitment and why it is necessary.
When the purpose of hiring is clear, you can quickly identify candidates who meet the requirements.
To achieve this, it’s essential for top level executives within the department with a position to be directly involved in the process.
Once the requirements have been defined organizations need to create a job description that accurately describes information about the business, role and specifies the skill set required.
This involves sharing the skills and technical knowledge required for the position.
Create a Comprehensive Assessment System
Once you have identified your requirements and defined the role, it is now time to develop an evaluation framework. To sum up you need to establish the criteria by which you will evaluate employees.
Again, it is crucial to align the evaluation standards with the required skills and effectively assess applicant’s knowledge.
Selective Outreach
When it comes to finding a perfect candidate, this is where things get challenging.
The talent pool you are targeting consists of job seekers who are not actively looking for opportunities in the job market.
Finding candidates who’re willing to leave their current situation for a new job can be difficult.
Therefore, your first step should be ensuring that the candidate is open to considering career options.
If they respond positively, you can request their resume or any other necessary details.
Assess Shortlisted Candidates
After screening resumes and conducting background checks you should have a list of candidates at the end of your recruitment process.
Now is the moment to reach out to these candidates and schedule a time for the assessment. This can be done through a meeting, or another method as specified in the form.
The purpose of the evaluation is to determine the compatibility between the company and the job candidate.
As you proceed with the meeting make sure to ask questions that focus on the qualifications, such as reviewing their assessment system and testing the candidate’s performance.
Make an Offer
Now it’s time for the phase of the lateral hiring process.
Once you have made your decision on who to hire, it is crucial to present them with an offer.
Keep in mind that the candidate is not actively seeking a change and may have no reason to negotiate or leave their job.
In fact, a lateral job offer can be an opportunity for candidates as they might use it as leverage to request a raise or promotion at their organization.
At this stage of the recruitment process, you have invested time and effort in finding the candidate who would like to bring the process to a close.
Although it’s not always possible to predict the outcome with certainty but incorporating data driven hiring decisions through evaluations and analysis can minimize the chances of an outcome.
Benefits of Lateral Hiring in the Recruitment Process
1. Expanded Efficiency:
One of the benefits of hiring is the increased efficiency it brings.
When a candidate is hired through a recruitment process, they possess the skills and expertise to hit the ground running thereby contributing to improved productivity.
2. Addressing Skill Gaps with Expertise:
The primary objective of lateral hiring is to identify individuals with the skill set to fill specific gaps within a team. The selected candidate brings skills and knowledge enabling an organization to enhance its operations.
3. Opportunities for Networking:
Hiring a candidate in a leadership position opens several networking opportunities for the organization. This allows for collaboration and connections in professional circles.
4. Fresh Perspectives:
A recruit with experience can offer a number of perspectives. This not only helps in solve existing problems but also enhances overall operations.
Difference Between Lateral Hiring from Vertical Hiring
Both lateral and vertical hiring indicate career progression. Involve employees advancing in their journeys.
What sets them apart?
Vertical hiring occurs when employees within an organization are promoted to higher level roles or offered salaries based on their refined skill sets developed over time within the company.
Climbing the career ladder within the field is often an aspiration for employees as they progress in their careers.
Lateral hiring, on the other hand, refers to when a company reassigns its employees from one department to another or to a role within the same division based on their relevant skills.
For example, a Team Lead in Operations can be recruited as a manager in the marketing firm.
Best Practices for Lateral Hiring
Here are some tips and tricks to keep in mind when engaging in lateral hiring:
- Clearly define your requirements.
- Ensure that the job description accurately captures your needs.
- Establish an evaluation system.
- Exercise discretion when approaching candidates.
- Carefully assess candidates against defined criteria.
- Be fair and honest. Avoid sugarcoating or misleading candidates.
Frequently Asked Questions
1. Why do organizations engage in lateral hiring?
Answer: Organizations opt for lateral hires because these individuals can be more efficient and productive in their roles compared to external hires since they are already familiar with the company’s processes and systems.
2. What are the advantages of lateral hiring for an organization?
Answer: In addition to saving time, lateral hiring helps organizations save on costs associated with hiring externally. These tasks include hiring recruitment agencies, conducting interviews, creating assessments, paying for advertisements and much more.