In today’s fast-paced work world, lateral career moves are becoming a key strategy for career growth. They let professionals learn new skills, get diverse experiences, and find new career paths. This approach is different from just moving up the ladder.
Only 26% of workers feel pushed to learn new skills at their jobs. This shows the need for better career plans. Lateral moves are seen as crucial for keeping employees happy, with their importance being 2.5 times more than a good salary.
More workers now look for jobs that make them happy, help them grow, and keep them adaptable. Lateral moves offer a way to do this. By trying out new roles, departments, or industries, people can learn more, become more versatile, and set themselves up for success in a changing job market.
Helping employees move laterally can greatly improve how engaged, productive, and loyal they are. By supporting ongoing learning, promoting teamwork across different areas, and offering tailored career growth chances, companies can unlock their team’s full potential. This leads to a team that’s adaptable and innovative.
Key Takeaways
- Lateral career moves offer diverse skill development and experiences for long-term career success
- Lateral opportunities are 2.5 times more important than compensation for employee retention
- Facilitating lateral moves within companies enhances engagement, productivity, and retention
- Organizations should nurture a culture of continuous learning and provide personalized career development
- Embracing lateral moves can unlock untapped potential and foster adaptability in the workforce
Understanding Lateral Career Moves
In today’s fast-paced work world, moving sideways in your career is becoming more common and important. Unlike moving up the ladder, lateral moves mean switching to a new role or department within the same company or to a similar job at another company. These moves are great for growing professionally, learning new skills, and feeling fulfilled.
Switching roles sideways can really help you grow your skills and see different parts of your industry. By taking on new challenges, you learn more and make your professional profile stronger. This makes you more valuable to your current job and more appealing to others in the future.
Internal job postings can help you move sideways. Many companies let their employees apply for jobs within the company. This helps keep talent within the company and boosts teamwork and sharing of knowledge.
Job rotation programs are another great way to move sideways. They let you work in different departments for a while, giving you a deeper understanding of how the company works. This is especially good for new workers, helping them find where they fit best.
“Lateral moves are a powerful tool for career development, offering opportunities for skill acquisition, network building, and personal growth. By embracing these experiences, professionals can position themselves for long-term success in an ever-evolving job market.”
– Sarah Thompson, Career Development Expert
Cross-functional projects are also great for moving sideways. They bring people from different departments together to achieve a common goal. This encourages teamwork, new ideas, and sharing skills. Working on these projects can help you learn new things, make connections, and see the company from different angles.
| Traditional Career Path | Lateral Career Path |
|---|---|
| Linear progression within the same field | Transitioning to different roles or departments |
| Focus on vertical advancement | Focus on skill development and versatility |
| May lead to higher salaries and management positions | May lead to a more well-rounded skill set and increased job satisfaction |
Lateral career moves might not always mean more money right away. But, they can set you up for success in the long run. By getting a variety of skills, building a strong network, and showing you can adapt, you’re preparing for leadership roles and future chances to move up.
Benefits of Lateral Moves for Talent Retention and Development
In today’s job market, keeping and growing talent is key. One great way is through lateral moves within a company. Studies show 86% of workers would switch jobs for better career growth. And 94% would stay longer at a company that helps them grow.
Lateral moves are great for keeping talent. MIT Sloan Management Review found they’re 12 times better than promotions at keeping people. Companies that offer these moves have a 33% higher chance of keeping their employees, says Gartner.
Nurturing a Culture of Continuous Learning
Offering lateral moves shows a company cares about its employees’ growth. It creates a culture where learning never stops. Employees can grow their skills and explore new areas. Leadership programs and job shadowing help them see the company from different angles and find new career paths.
“Lateral moves not only retain top talent but also help build a deeper bench of future leaders. By investing in our employees’ growth and exposing them to different aspects of the business, we’re ensuring a strong pipeline of talent for years to come.” – Sarah Johnson, Chief Talent Officer at Global Enterprises
Building a Versatile and Adaptable Workforce
Lateral moves make the workforce more versatile and adaptable. Employees learn new skills and understand the company better in different roles. This is super useful in today’s fast-changing business world, where being agile is crucial.
| Benefit | Impact |
|---|---|
| Talent Retention | 12 times more effective than promotions |
| Employee Intent to Stay | 33% higher with strong internal hiring markets |
| Performance of Internal Hires | Better compared to external hires |
Using lateral moves in their talent strategy helps companies keep top talent and build a strong workforce. It’s good for both the employee and the company in the long run.
Promoting Cross-Functional Collaboration
Lateral career moves are key to boosting cross-functional collaboration in companies. They help employees try out different roles and departments. This breaks down barriers that can stop teamwork and communication. In 2015, the Harvard Business Review found 75% of cross-functional teams didn’t work well together. This shows we need new ways to help teams work better across different areas.
Breaking Down Departmental Silos
Departmental silos can hurt an organization’s success, wasting time and resources. Teams can lose up to 20 hours a month because they don’t work well together. Siloed teams also spend about 15% of their day dealing with communication problems. By moving people laterally, companies can help employees see how different parts of the business connect. This leads to better cross-functional collaboration.
Poor teamwork can cost a team of 200 employees $1.5 million a year because of communication issues and not working together well. Breaking down these silos with lateral moves can make work more cohesive and productive.
Fostering Efficient and Innovative Problem-Solving
Cross-functional collaboration is key for innovation and solving problems efficiently. Diverse teams tend to do better in brainstorming and coming up with new ideas. By getting employees to work on projects across departments and through mentorship programs, companies can share knowledge and skills.
Good teamwork is very important in tough times. A study found that most people felt better after a crisis because they focused on facts. By encouraging cross-functional collaboration through lateral moves, companies make sure their teams can tackle challenges and adapt.
| Benefits of Cross-Functional Collaboration | Impact on Organizations |
|---|---|
| Increased innovation and problem-solving | Diverse teams generate more innovative solutions |
| Improved communication and teamwork | Reduces time wasted due to poor collaboration |
| Enhanced skill development and knowledge sharing | Facilitates internal training and closes skill gaps |
| Boosted employee engagement and job satisfaction | Encourages teamwork and individual contributions |
By pushing for lateral moves and cross-functional collaboration, companies can do better on projects and build a stronger culture. Working together across departments makes teams more united and adaptable. This leads to long-term success.
Unlocking Untapped Potential and Enhancing Skills
Lateral moves help employees grow by giving them new challenges and responsibilities. This approach boosts personal growth and leadership skills development. Gallup found that teams do better when everyone knows and uses their strengths. This leads to less conflict and better teamwork.
By moving laterally, employees can find and improve their hidden talents. This makes the workforce more diverse and skilled.
Learning new things is key to growing and improving. Sites like Coursera, Udemy, and LinkedIn Learning offer courses for professional growth. These courses help employees learn more and get better at their jobs. This helps companies stay ahead in a changing world and improves job performance.
“Embracing challenges is an opportunity for personal growth and strengthening of skills. Viewing challenges as stepping stones to improvement can lead to unexpected successes and the discovery of new strengths.” – Gallup
Lateral moves let employees use their skills in new areas of the company. This helps them see things from different angles and use their deep knowledge. It’s something new hires can’t match. By valuing learning and lateral moves, companies can grow leaders who are ready for the future.
| Benefit | Impact |
|---|---|
| Improved Employee Retention | Lateral moves show a commitment to growing employees, leading to better retention and less turnover. |
| Enhanced Productivity | Employees who know and use their strengths work better and are more productive, helping the company succeed. |
| Addressing Skills Gap | With over 145,000 IT job vacancies expected in 2023, training current employees through lateral moves can fill the skills gap. |
| Cost Savings | Training frontline workers for tech jobs saves companies millions in hiring costs and promotes diversity and inclusion. |
As companies face challenges in keeping and developing talent, lateral moves become crucial. By tapping into their employees’ potential and improving skills, companies can build a team that’s dynamic, engaged, and ready for the future.
Boosting Employee Engagement and Job Satisfaction
Lateral career moves can really boost employee engagement and job satisfaction. They offer chances for professional growth and show an organization cares about its employees’ future. This leads to more motivation, productivity, and new ideas in the workplace.
Demonstrating Commitment to Employee Growth
Encouraging lateral moves shows an organization values its employees’ career goals and growth. When employees feel supported, they’re more likely to be happy and engaged at work. A Gallup study found 68% of workers think employer-provided training is key when looking for a new job. Also, 48% might switch jobs for better training opportunities.
Organizations can show they care about employee growth by offering:
- Workshops and conferences
- Online courses
- Coaching and mentoring programs
- On-the-job training
- Certifications
- Team building activities
- Job shadowing and rotation
Increasing Productivity and Innovation
Engaged employees are more productive and innovative. By supporting lateral moves and growth, organizations unlock their employees’ full potential. Gallup found only 23% of employees worldwide and 33% in the U.S. are truly engaged. This shows a big chance for organizations to improve engagement with the right efforts.
Employee engagement greatly affects business success. For example, top business units outperform bottom ones by a lot. This shows how important engagement is.
| Business Outcome | Percentage Variance |
|---|---|
| Absenteeism | 78% |
| Patient Safety Incidents | 58% |
| Turnover | 21% – 51% |
| Shrinkage | 28% |
| Safety Incidents | 63% |
| Quality | 32% |
| Customer Loyalty | 10% |
| Productivity | 18% |
| Profitability | 23% |
By focusing on employee recognition and growth through lateral moves, organizations can build a highly engaged team. Gallup’s research highlights the importance of managers in this effort. They say 70% of team engagement comes from the manager.
Developing Agility and Adaptability in the Workforce
In today’s fast-changing business world, it’s crucial for companies to focus on making their workers more agile and adaptable. By using career change strategies and supporting lateral moves, companies can build a team ready for new challenges and chances brought by changes in the industry and market.
A recent survey of 1,200 business and HR leaders from 79 countries showed a gap in promoting adaptability and career growth. Only 15% of employees said their company encouraged them to switch roles in the past six months. And, only 26% said their company pushed them to learn new skills in the same period.
To fix this, companies need to actively support their employees’ growth and learning. For example, AT&T put US$250 million into learning chances for its workers. They offered up to US$8,000 a year in tuition aid for degrees and nanodegrees. This led to 140,000 AT&T employees learning new skills for new roles, showing the power of investing in employee growth.
| Core Competency | Benefit |
|---|---|
| Communication | Enhances collaboration and problem-solving |
| Creativity | Fosters innovation and adaptability |
| Adaptability | Increases resilience and preparedness for change |
The 2021 Skills Report by Skills Future Singapore highlights key skills for adapting to change and achieving goals. These include creative thinking, problem-solving, decision-making, and more. By focusing on these skills, companies can get ready for the future and boost job performance.
“Developing skills like communication, creativity, and adaptability can lead to better productivity and performance for employees.” – Skills Future Singapore
Investing in employee growth helps both the company and its workers. It makes the company more appealing to top talent. A skilled workforce is more motivated and ready to tackle new challenges. This can lead to higher employee retention and a competitive edge in the market.
Career Advancement: Strategies for Facilitating Lateral Moves
Moving laterally within a company helps with career growth and employee growth. It lets employees try new roles and learn new skills. This makes a company more adaptable and keeps employees happy and engaged.
Offering Career Development and Coaching
Helping employees move laterally by offering career development and coaching is key. Skills and interest assessments can show which roles fit best and what skills are needed. Career coaching helps with making plans to reach goals, like improving resumes and taking courses.
A study by Randstad shows that 73% of employers value employee development. But only 49% of employees feel leadership supports this. This shows the importance of clear career paths and ladders to keep employees.
Exposing Employees to Cross-Functional Projects
Putting employees in projects across different departments helps them learn and grow. It encourages teamwork and innovation. Employees get to see how the company works and might find new interests and skills.
| Strategy | Benefits |
|---|---|
| Cross-functional projects | Gain experience, mentorship, and diverse skills |
| Internal job postings | Foster trust and dedication to the company |
| Career coaching | Create strategies for achieving career goals |
Prioritizing Internal Candidates for Open Positions
Showing internal job postings to employees first builds trust. If they don’t get the first chance, they might think there’s no future with the company. Research shows that not investing in training leads to losing good employees to others.
80% of workers do not believe their current employers offer sufficient growth opportunities, highlighting the need for organizations to invest in clear career paths and ladders to increase employee retention.
Choosing internal candidates for jobs and supporting lateral moves shows a company cares about its employees. This boosts job satisfaction and keeps top talent. It makes the workforce strong and adaptable.
Overcoming Challenges and Misconceptions
Lateral moves can help you grow in your career over time. But, they come with challenges and wrong ideas. Many people worry about their pay and status when thinking about these moves. Yet, career growth isn’t always easy. Sometimes, taking a step sideways can open up more opportunities later.
Addressing Concerns About Pay and Status
Employees often worry about how lateral moves will affect their pay and status. It’s true that these moves might not always mean more money right away. But, they offer chances to learn new skills, grow your network, and set you up for future success. In fact, a recent survey found that 85% of people say having a strong network is key to moving up in their careers.
Becoming a manager doesn’t always mean you’re growing in your career. Being a great individual contributor is just as important. Lateral moves can help you gain the skills and experience you need to shine in your field. Remember, it’s not about the title you have, but the impact you make.
Communicating the Value of Lateral Moves
To help employees see the benefits of lateral moves, employers need to share how these moves can help. They can do this through different ways, such as:
- Sharing stories of employees who moved sideways and did well in their careers
- Providing career development and coaching to show how lateral moves fit into long-term goals
- Stressing the need for ongoing learning and skill growth, and how lateral moves can help with that
- Showing the value of working across different departments and how lateral moves can lead to new ideas
By actively sharing the good things about lateral moves, employers can help employees see the big picture. This can lead to a workplace that values growth, flexibility, and learning. These are key for doing well in today’s fast-changing business world.
“The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.” – Steve Jobs
Conclusion
Lateral career moves are key to success and growth in today’s fast-changing work world. They help create a culture of continuous learning, teamwork, and employee involvement. This way, companies keep their best workers and build a team ready for future challenges.
To make lateral moves work, companies need a good plan. This includes giving career advancement tips, offering cross-functional projects, and choosing internal people for jobs. Regular job reviews and professional development help workers grow and learn new skills.
Some might worry about lateral moves, like pay or status. But, companies can show the value of these moves and care for employee growth. By focusing on worker development and lateral moves, companies can unlock new potential, increase productivity, and encourage innovation.
Finally, using lateral moves is crucial for both personal and company success in today’s fast-changing business world. By helping employees gain diverse experiences and skills, companies build a workforce that’s flexible, adaptable, and ready to lead to long-term success.
FAQ
What are lateral career moves?
Lateral career moves mean changing jobs within the same level or type of work. They don’t usually mean more work or more pay. These moves help people learn new skills and gain different experiences.
How can lateral moves benefit employees?
Lateral moves help employees grow personally and professionally. They get to learn more, try new things, and find work they love. This can stop them from feeling stuck, make them think more deeply, and make them happier at work.
What are the benefits of lateral moves for organizations?
For companies, lateral moves keep good employees happy and on board. They reveal new talents and skills in the team. This approach encourages learning, makes the team more flexible, and leads to better problem-solving.
How do lateral moves promote cross-functional collaboration?
Moving laterally gives workers a big-picture view of the company. They see how different parts work together. This leads to better teamwork, communication, and finding new solutions.
What strategies can organizations use to facilitate lateral moves?
Companies can help lateral moves by testing skills and interests, offering career advice, and giving people cross-functional projects. They should also give internal people a chance at new jobs first to build trust.
What challenges and misconceptions are associated with lateral moves?
Some people might not want to move laterally because they worry about their pay or status. Employers should talk openly about the benefits of these moves for growth and share stories of success.
How can lateral moves prepare employees for senior roles?
Lateral moves broaden an employee’s skills and give them a wider view. This helps them adapt to changes in the industry, trends, and the company. It prepares them for leadership roles.
What role do lateral moves play in employee engagement and job satisfaction?
Supporting lateral moves shows a company cares about its workers’ careers and happiness. This makes employees more involved and motivated. Happy employees do better work and bring new ideas to the table.
Source Links
- Career goals, skills development and lateral moves
- 3 Ways To Embrace Lateral Moves
- Horizontal vs. Vertical Career Growth: How To Do Both | University of Phoenix
- Lateral moves may ultimately benefit career trajectory, study
- Lateral Moves: 4 Signs You’re Ready to Go Sideways
- Why Lateral Moves in Career Development Are Key for Employee Retention | Cooleaf
- Why You Should Prioritize Lateral Moves for Internal Mobility – Cangrade
- Cross-Team Collaboration: 9 Top Strategies for Success
- How to Improve Cross-Functional Collaboration in the Workplace
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- How to Improve Employee Engagement in the Workplace
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- Overcoming 5 Career Development Myths
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- Building a Successful Career: The Importance of Career Development
- How to Pursue Career Advancement and Achieve Your Goals
