In the dynamic world of business, the process of recruitment is a crucial aspect that determines the success or failure of an organization. Lateral hiring, a specific form of recruitment, plays a significant role in shaping the workforce of a company. This article delves into the depths of lateral hiring, exploring its various facets and nuances.

Whether you're a seasoned HR professional, a budding entrepreneur, or simply an individual intrigued by the world of recruitment, this comprehensive guide will provide you with a thorough understanding of lateral hiring. So, buckle up and prepare for an enlightening journey into the realm of recruitment!

Understanding Lateral Hiring

Lateral hiring refers to the process of recruiting individuals who have a similar level of experience and skills as the current employees in the position. Unlike entry-level hiring, which focuses on bringing in fresh talent, lateral hiring aims to fill a position with someone who can hit the ground running.

It's a strategy that allows companies to bring in experienced professionals who can contribute immediately to the organization's goals. This approach can be particularly beneficial when a company needs to fill a role quickly or when it requires specific skills that are not readily available within the organization.

Origins of Lateral Hiring

The concept of lateral hiring has its roots in the corporate world where companies often need to fill positions quickly to keep up with the fast-paced business environment. The traditional method of promoting from within can be time-consuming and may not always yield the desired results.

As businesses started to expand and diversify, the need for experienced professionals with specific skill sets became more apparent. This led to the emergence of lateral hiring as a viable recruitment strategy. Over time, it has become a common practice in various industries across the globe.

Benefits of Lateral Hiring

Lateral hiring offers numerous benefits to an organization. One of the most significant advantages is the ability to bring in experienced professionals who can contribute immediately to the organization. This can be particularly beneficial in situations where a company needs to fill a role quickly or when it requires specific skills that are not readily available within the organization.

Furthermore, lateral hiring can also provide a fresh perspective to the team. New hires can bring in new ideas and approaches that can lead to innovation and improvement. This can be particularly beneficial in industries that are constantly evolving and require constant innovation to stay competitive.

The Lateral Hiring Process

The lateral hiring process can be quite complex, involving several steps. It typically begins with identifying the need for a new hire, followed by defining the job role and requirements. The next step involves sourcing candidates, which can be done through various methods such as job postings, recruitment agencies, or employee referrals.

Once the candidates have been sourced, the selection process begins. This usually involves several rounds of interviews and assessments to evaluate the candidates' skills and fit for the role. The final step is the job offer, which includes negotiating the terms of employment and finalizing the contract.

Identifying the Need

The first step in the lateral hiring process is identifying the need for a new hire. This usually occurs when a position becomes vacant due to a resignation, retirement, or expansion of the team. In some cases, a new position may be created to meet the changing needs of the organization.

Once the need for a new hire has been identified, the next step is to define the job role and requirements. This involves outlining the responsibilities of the position, the skills and experience required, and the expected outcomes. This information is crucial in attracting the right candidates and ensuring a successful hiring process.

Sourcing Candidates

The next step in the lateral hiring process is sourcing candidates. This can be done through various methods such as job postings, recruitment agencies, or employee referrals. The goal is to attract a pool of qualified candidates who meet the job requirements and are a good fit for the organization.

Job postings are the most common method of sourcing candidates. They are typically posted on the company's website, job boards, and social media platforms. Recruitment agencies can also be a valuable resource, especially for hard-to-fill roles. They have access to a wide network of candidates and can help streamline the hiring process. Employee referrals are another effective method of sourcing candidates. Employees often have a good understanding of the company culture and can recommend candidates who would be a good fit.

Selection Process in Lateral Hiring

Once the candidates have been sourced, the selection process begins. This usually involves several rounds of interviews and assessments to evaluate the candidates' skills and fit for the role. The goal is to identify the best candidate for the position, taking into consideration their skills, experience, and potential for growth.

The selection process can vary greatly depending on the organization and the role. However, it typically involves an initial screening, followed by one or more interviews, and possibly an assessment or test. The initial screening is usually a brief phone or video interview to assess the candidate's interest in the role and basic qualifications. This is followed by in-depth interviews with the hiring manager and other key stakeholders. In some cases, candidates may also be asked to complete an assessment or test to evaluate their skills and abilities.

Interviews

Interviews are a crucial part of the selection process in lateral hiring. They provide an opportunity for the employer to assess the candidate's skills, experience, and fit for the role. They also give the candidate a chance to learn more about the role and the organization.

Interviews can take many forms, including phone interviews, video interviews, and in-person interviews. They may be conducted by the hiring manager, a panel of interviewers, or a combination of both. The questions asked during the interview will vary depending on the role and the organization, but they typically focus on the candidate's skills, experience, and motivation for applying for the role.

Assessments

In addition to interviews, assessments can also be a valuable tool in the selection process. They can provide objective data on a candidate's skills and abilities, helping to supplement the information gathered during the interview.

Assessments can take many forms, including skills tests, personality assessments, and situational judgement tests. The type of assessment used will depend on the role and the skills required. For example, a skills test might be used for a technical role, while a personality assessment might be used for a customer service role.

Job Offer and Onboarding

The final step in the lateral hiring process is the job offer. This involves negotiating the terms of employment and finalizing the contract. The job offer should include details about the salary, benefits, work schedule, and other key aspects of the job.

Once the job offer has been accepted, the onboarding process begins. This is a crucial step in ensuring the new hire's success in the role. The onboarding process should provide the new hire with the information and resources they need to perform their job effectively and become a productive member of the team.

Negotiating the Job Offer

The job offer is a crucial part of the lateral hiring process. It is the final step before the candidate becomes an official employee of the organization. The job offer should include details about the salary, benefits, work schedule, and other key aspects of the job.

Negotiating the job offer can be a delicate process. The employer wants to secure the best talent at the best price, while the candidate wants to ensure they are being fairly compensated for their skills and experience. It is important for both parties to approach the negotiation process with an open mind and a willingness to compromise.

Onboarding

Once the job offer has been accepted, the onboarding process begins. This is a crucial step in ensuring the new hire's success in the role. The onboarding process should provide the new hire with the information and resources they need to perform their job effectively and become a productive member of the team.

Onboarding can include a variety of activities, including orientation sessions, training programs, and mentoring. The goal is to help the new hire understand the organization's culture, values, and expectations, and to provide them with the tools and resources they need to succeed in their role.

Conclusion

Lateral hiring is a powerful recruitment strategy that can help organizations attract experienced professionals who can contribute immediately to their goals. While the process can be complex and challenging, the benefits can be significant. By understanding the various aspects of lateral hiring, organizations can make informed decisions and implement effective recruitment strategies.

Whether you're a seasoned HR professional, a budding entrepreneur, or simply an individual intrigued by the world of recruitment, understanding lateral hiring is crucial. It's a strategy that's here to stay, shaping the workforce of companies across the globe. So, the next time you're involved in a recruitment process, remember the insights from this comprehensive guide and make the most of lateral hiring!

If you're looking to leverage the benefits of lateral hiring to fill senior-level positions within your organization, Jennings Executive Search is your go-to partner. With a wealth of experience in securing top-tier talent for roles such as Director of Pricing Strategy, Global Pricing Lead, and Sr. Manager of Pricing Strategy, we understand the intricacies of attracting and placing highly qualified professionals. Learn more about how Jennings Executive can elevate your recruitment strategy and help you find the perfect match for your company's needs.