Lateral Recruitment

LATERAL RECRUITMENT

(MEANING, DEFINITION AND OBJECTIVES)

 

MEANING OF LATERAL RECRUITMENT

When a firm recruits someone with the similar work experience and pay level as in their preceding job, it is known as “Lateral Recruitment”. For example: Recruiting a CFO with 20 years of experience at Company A to become a CFO of Company B.

OR

 Also, in case when we hire a new employee who has no prior specific applicable expertise (with the help of Lateral recruitment techniques) for the new job and for whom this job move is a major change of his career. For Example: Recruiting a university Professor to become a chairman of board of directors in a company.

At the time of bearing in mind lateral recruitment, the HR manager must cautiously and methodically examine the job skills of the potential employee. With the help of various HR tools like news postings, community happenings, industry magazines, award postings, and old fashioned word of mouth about the candidate; the human resource manager can do this type of recruitment. As because of lateral hiring the candidate already has the skills that you require, so it usually is a subject of providing incentive to get that candidate to say “yes”.

 

DEFINITION OF LATERAL RECRUITMENT

We can define lateral recruitment as the process of hiring a "skilled and Professional candidate" for the job that needs to be filled. In some cases, it is known as a specialized hiring and the experts are generally from another organization which is well-known as the leader in the field whom it would be to your lead to employ.

 

POINTS TO CONSIDER DURING LATERAL HIRING

While there is not at all any guarantee that a lateral recruitment will have the desired effect, there are a number of steps that can help the firms to maximize the chances that the “marriage” will last long. The following are some recommendations as to how firms can efficiently incorporate laterals into the firm and its culture.

  • Be detailed in your due diligence: There are few reasons why laterals are leaving or have left the organization and looking for new opportunity, so for you it is necessary to discuss those reasons in detail. Having all the significant information will also give you the chance to address any issues that may make the switch easier. And the process of the lateral’s absorption into the culture of your firm/ organization will be smooth.

 

  • Place the offer in writing: Always make sure that the offer is in writing and all terms and conditions are detailed in the agreement. The agreement should outline those behaviors that organization measures and rewards. No one likes surprise and many misunderstandings can be avoided if there is a written document.

 

  • Remember that personalities count: The wrong “fit” can have major consequences and it is essential to focus on the similarity of personalities, not just the practice, when considering a lateral hire.

 

  • Organize an orientation program: Be sure that new employees are provided sufficient training in the organization’s systems and procedures. On an ongoing basis a mentor can be of remarkable assistance; but the initial training is critical to start off on the right foot.

 

  • Give it time to work: You need to understand that integrating a new partner or practice group takes time. Don’t drop the ball after an initial spurt of activity.

 

  • Allocate an adviser/mentor: Acquaintances’ and partners both face no of problems when they join a new organization. To ease the transition, it can be very beneficial to both sides if the lateral is assigned a handler who will go a long way towards increasing the comfort level and productivity of the new arrivals.

 

THE PROCESS OF LATERAL RECRUITMENT

In case of lateral hiring much research is required to be done. While advertising is the most frequent way to see a name, be apprehensive of a sudden spell about your candidate. He might be misleading you by way of self promotion, so his skills might not be as golden as might first come into sight. An enhanced research tool would be to find numerous articles over a period of months or years concerning his awards and achievements.

The prospective applicant already has a status and skills that do not need to be advanced within your organization. It is significant to offer something that his present firm does not offering him, so examine his current firm's offerings and after that with the help of a short initial letter you can begin the process of negotiation with the applicant.

In case you get a positive reply, you can negotiate further. He has turn out to be aware of your interest, so a hint of the new project can often stratagem him into further dialogue. Your candidate can be tempted with the project itself, by this means allowing you to offer the package incentive. With good negotiating skills, you can effectively employ the lateral applicant, insuring that the lateral hire will be an esteemed member of the team.

 

 

THE OBJECTIVES OF LATERAL RECRUITMENT

 

We can describe the objectives of lateral recruitment as follows:

  • To hire experienced and professional candidates.
  • To find someone who can join the organization at the same wage level and possess the required work experience.
  • To minimize the cost incurred on completing the recruitment process.
  • To hire a person who can easily and efficiently adopt the work culture of the organization and be able to produce maximum output.
  • Cutting down the time and cost of training session.
  • To hire someone who is mature enough to take critical decisions when required.
  • To hire someone who know how to manage the work-pressure and be productive.
  • To hire someone who can work as a team.
  • To hire a candidate who can help the organization to achieve its goal without a lag period.

 

 

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