When someone takes on a new job at a different location or department within their current company, it is known as a lateral movement. It can be beneficial for the employee and the company. The lateral move may not have the same level of responsibility or pay as the employee's previous job, but it can still provide an opportunity for career development and growth.
A promotion is simply an increase in salary or responsibility. This often happens as a result of a good performance review, or when an employer realizes the employee is capable of advancement.
Both terms are interchangeable in the business world, but they have important differences. One is that a lateral move usually means a role that requires the same skills as the employee's previous position but with a higher responsibility level.
This is also a pay grade that's lower than the previous position, which some employers might consider a bad thing.
The employee and supervisor must often plan and negotiate the lateral move. This process may take several months or even a few years. Talk to your manager about the lateral movement in advance.
A lateral change can sometimes be the answer to a difficult working environment, or even a conflict. It may be the right time to leave if, for instance, your manager dislikes you or if a toxic company culture exists. An employee may be able to find new challenges or opportunities by making a lateral move.
Besides the fact that it can be a good way to boost your career, a lateral move can also have a positive effect on your personal life. For instance, you'll meet new coworkers at the new company and develop friendships that may last a lifetime. The more social connections you have, the better for your mental wellbeing. It will also improve how well you do at work.
You'll also learn about a different way of life or culture. You will gain a better understanding of what it is like to work in the corporate world.
This can be an excellent way to get out of a rut and change your daily routine. The move can also benefit someone just starting out their career who needs more experience before they take on a new position at a larger company.
A lateral change can be good for employees, but it isn't always a great thing for a 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.