Hiring the ‘best of the best’ is not a trend but a requirement of companies to stay ahead of the competition. Modern companies focus more on winning the talent war by recruiting the most suitable and qualified candidates. While some companies have succeeded in this area, others have experienced difficulties hiring less-than-qualified employees. Because of the recent start-up boom, today’s recruitment management has changed, requiring HR professionals to be more strategic and competent than ever before. That’s where the concept of lateral Hiring comes to solve the problems that the companies lack.
It is the practice of filling an organizational position with a candidate from an external talent pool. It’s considered a specialized hiring strategy that involves hiring individuals with the same kind of experience than someone who has no experience. The plan is to focus on hiring people with some work experience instead of someone without any work experience. focuses on recruiting someone with some work experience rather than someone with no experience. The organization focus on hiring candidates who have lateral thinking. They look for more than expertise means the talent must have leadership, interpersonal and cognitive skills.
Lateral recruitment is challenging for human resources departments because candidates wants to upgrade their career, and many people seek additional benefits and compensation commensurate with the added responsibilities of their new position. Unlike a mainstream hire, in which the candidate being considered for the position does not possess the requisite skills and expertise, a lateral hire sees an individual brought on board who has already demonstrated these characteristics.
You can follow these few steps for lateral recruitment.
To improve your lateral hiring retention rate, you must understand that the issues are usually related to a company’s failure to integrate its employees into the company culture. The following are five steps to help ensure successful recruitment strategies:
Our Structured Interview platform streamlines the lateral hiring process by providing a convenient, user-friendly way to schedule interviews and assess candidates. Our video interviews and inbuilt simulators allow prospective employees to showcase their skillset anywhere and at any time. The platform collects data on candidate responses and provides hiring managers with actionable insights to make more informed hiring decisions.
Lateral Hiring can help you in various ways to hire the top talent, but it requires continuous HR attention to find them. You can apply the steps to leverage the concept of lateral recruitment, which brings growth to your company.
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