A lateral transfer is when an employee takes a position in a department or office that's different from their current one. Both the employee and company can benefit from a lateral move. It may not offer the same responsibility or compensation as the previous job but can still be a great opportunity for growth and development.
A promotion, however, is a change in the employee's responsibilities or salary. This often happens as a result of a good performance review, or when an employer realizes the employee is capable of advancement.
They are both used interchangeably by business people, but there are differences. One difference is that in business, a "lateral move" usually refers to a position that requires the exact same skills and knowledge as an employee's prior role but with increased responsibility.
Some employers may also view it as a negative if the pay is lower than that of the previous job.
The employee and supervisor must often plan and negotiate the lateral move. The process can take many months or years. Discuss the move with your manager in advance.
A lateral move may be the best solution for a bad working environment or conflict in the workplace. If, for example, an employee's boss has become hostile towards them, or the company culture is toxic it might be time to move. An employee may be able to find new challenges or opportunities by making a lateral move.
A lateral career move can not only help you advance in your professional life, but it can also benefit your personal one. You'll also make new friends at your new job and possibly develop lifelong friendships. Your mental health can be greatly improved by having more people around you. This will have a significant impact on the way you behave at work and in other areas of your life.
A lateral movement can also introduce you to a completely different culture. You will gain a better understanding of what it is like to work in the corporate world.
A change of job can be a good way to get away from a certain rut. It may also be the best choice for someone who wants to switch up their routine and is tired of their present position. A new careerist who wants to gain more experience can make the move.
A lateral shift can be beneficial for both the employee and the company. For example, a company might be reluctant to let an experienced and highly skilled employee leave their department for fear of losing their talent or ability to lead.