Using Lateral Moves to Benefit Your Workforce
This may or may not come as a surprise, but not everyone is looking to climb the corporate ladder. Did you ever think of lateral moves as a way to benefit your workforce? Now more than ever, companies are implementing lateral pathways to not only retain their employees but also to enhance their skills. A lateral move typically means that an employee will take a new role at the same salary and level of hierarchy.
Many employees, especially the younger generations, are interested in making lateral moves. Some of the interest stems from individuals still trying to figure out their career paths. Another motivation is to change up responsibilities and/or get away from a toxic situation. Whatever the reason, companies should be analyzing their career pathways and ways for employees to successfully make a lateral transition.
HOW THE Company Benefits:
Increased employee loyalty and retention
Ability to maintain the same (or similar) salary for an employee who already knows the company and its culture
More cross-trained employees with upgraded skills
Opportunity to create additional openings for new talent
Employees that are capable of training their successors
More motivated employees, and less overall burnout
“Bottom line: If the structure and pathways are not in your company, have the conversation - because the option for lateral moves could benefit everyone. ”
HOW the Employee Benefits:
Opportunity to broaden skills, experience, knowledge, and responsibilities
Ability to remain employed while exploring career options
Gain loyalty and respect from colleagues and peers
Recharge and reconnect with the company
Positioned well for future career progression
Avoid burnout and becoming jaded
Of course, a lateral move may not be right for every employee or employer. However, it can be a solution for a company with turnover issues or the answer to getting more exposure as an employee.
Bottom line: If the structure and pathways are not in your company, have the conversation - because the option for lateral moves could benefit everyone.
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Lateral Moves Offer Career Development for Employees