In today's competitive job market, it's essential to stay ahead of the curve and be adaptable to new opportunities.
One way to do this is through lateral movement, a career strategy that has gained popularity in recent years. This type of career move can offer numerous benefits, including the chance to gain new skills, expand your network, and increase job satisfaction.
In this comprehensive guide, we'll explore the meaning of lateral movement, its benefits, and potential drawbacks, and how to successfully navigate a lateral career move.
We'll also provide tips for jobseekers looking to make a lateral move and discuss how employers can support and encourage lateral movement within their organizations.
Lateral Movement Meaning
Lateral movement is a career strategy that involves moving from one position to another within the same organization or industry but at the same level of responsibility and pay.
It is contrary to vertical movement, which involves moving up the corporate ladder to positions with increased responsibility and pay.
Lateral movement can take many forms, including:
- Moving from one department to another within the same company
- Changing roles within the same department
- Moving to a different company within the same industry
- Transitioning from one industry to another while maintaining the same level of responsibility
The Benefits of Lateral Movement
There are several advantages to pursuing lateral movement as part of your career strategy. Some of the most significant benefits include:
Skill Development
Lateral movement allows you to gain new skills and experiences to help enhance your overall career development.
By taking on new responsibilities and working in different areas of your organization or industry, you can broaden your skillset and become a more versatile and valuable employee.
For example, if you've been working in marketing, you might consider a lateral move to a public relations role.
This would allow you to develop new skills in media relations and crisis management, increasing your eligibility to potential employers and new career opportunities.
Networking Opportunities
Lateral movement can also help you expand your professional network, within your organization and your industry.
By working in different departments or companies, you'll have the chance to meet new colleagues and make connections that can lead to future job opportunities or collaborations.
Additionally, a diverse network can provide valuable insights and perspectives to help you solve problems, generate new ideas, and stay informed about industry trends.
Job Satisfaction
Making a lateral move can increase your job satisfaction by providing new challenges and opportunities for growth. In case of unfulfillment in your current role, a lateral move can offer a fresh start and explore new areas of interest.
For example, if you're a project manager working in the construction industry, you might consider switching industries to tech.
This could provide you with an exciting new challenge and the opportunity to work on innovative projects that align with your passions and interests.
Career Advancement
While the lateral movement doesn't involve moving up the corporate ladder, it can still contribute to your career advancement.
By gaining new skills and experiences, you'll become a more attractive candidate for future promotions or job opportunities.
Additionally, lateral movement can help you build a strong foundation for future vertical movement.
For example, if you're interested in eventually moving into a management role, gaining experience in different areas of your organization can help you develop a well-rounded understanding of the business and prepare you for the challenges of leadership.
The Potential Drawbacks of Lateral Movement
While there are many benefits to lateral movement, there are also some potential drawbacks to consider. Some of the most common challenges associated with lateral movement include:
Limited Financial Gains
One of the main disadvantages of lateral movement is that it typically doesn't involve a significant pay increase. So, if your primary goal is to increase your income, this might not be the best strategy.
However, it is important to consider the long-term benefits of lateral movements, such as skill development and networking opportunities, which can ultimately contribute to your overall earning potential.
Perception of Lack of Ambition
In some organizations or industries, the lateral movement might be considered a lack of ambition or commitment to career advancement.
It can be particularly challenging if you're working in a highly competitive environment where vertical movement is the primary measure of success.
So, to overcome this perception, it's critical to communicate your reasons for pursuing a lateral move and emphasize the benefits it can bring to your career development.
Adjusting to a New Role
Making a lateral move can also involve a period of adjustment as you adapt to a new role, team, or company culture. This can be challenging, particularly when switching roles with different responsibilities or expectations.
To ease this transition, it's essential to be proactive in learning about your new role and seeking support from colleagues and mentors.
How to Successfully Navigate a Lateral Career Move
If you're considering a lateral move, there are several steps you can take to ensure a successful transition:
Assess Your Goals and Interests
Before making a lateral move, assess your career goals and interests to ensure that the move aligns with your long-term objectives.
Consider what skills you'd like to develop, what industries or areas you're interested in exploring, and how a lateral move can contribute to your career growth.
Conduct Research
Once you've identified your goals and interests, conduct research to identify potential roles, departments, or companies that align with your objectives.
This might involve reviewing job descriptions, attending industry events, or speaking with colleagues or mentors who have made similar moves.
Develop a Plan
Once you've identified potential opportunities, develop a plan to execute your lateral move.
Update your resume and Naukri profile, reach out to your network, or apply for open positions.
Communicate Your Intentions
When planning on a lateral move within your current organization, communicate your intentions to your manager and HR department.
This can help ensure a smooth transition and demonstrate your commitment to the organization.
Seek Support
Finally, seek support from colleagues, mentors, or career coaches who can provide guidance and advice throughout your lateral move.
This can help you navigate any challenges and ensure a successful transition to your new role.
How Employers Can Support Lateral Movement
Organizations can also play a crucial role in supporting and encouraging lateral movement among their employees. Some strategies for fostering a culture of lateral movement include:
Encourage Skill Development
Employers can support the lateral movement by offering training and development opportunities that allow employees to gain new skills and experiences.
This might include offering workshops, seminars, or online courses, or providing employees with access to industry conferences or events.
Foster a Culture of Collaboration
Organizations can also promote lateral movement by fostering a culture of collaboration and cross-functional teamwork.
By encouraging employees to work on projects or initiatives outside of their primary roles, organizations can help employees gain new skills and experiences while also promoting innovation and problem-solving.
Develop Internal Job Boards or Talent Pools
Employers can support the lateral movement by creating internal job boards or talent pools that allow employees to explore new opportunities within the organization.
By making it easy to identify and apply for open positions, organizations can help facilitate lateral movement and promote a culture of growth and development.
Offer Flexible Work Arrangements
Finally, organizations can support lateral movement by offering flexible work arrangements, such as job sharing or part-time roles.
This can allow employees to explore new opportunities while maintaining their current positions, providing a low-risk way to gain new skills and experiences.
Conclusion
The lateral movement is an increasingly popular career strategy that can offer numerous benefits for both job seekers and employers.
By understanding the meaning of lateral movement, its advantages, and potential drawbacks, and how to successfully navigate a lateral career move, jobseekers can make informed decisions about their career development and take advantage of new opportunities for growth and advancement.
Employers can also play a crucial role in supporting the lateral movement by fostering a culture of collaboration, skill development, and internal mobility.
By promoting lateral movement within their organizations, employers can help employees gain new skills and experiences, increase job satisfaction, and ultimately contribute to the organization's success.
