Lateral hires join at roughly the same seniority, often with a similar title, bringing experience gained elsewhere. The term is common in law, consulting and finance, where firms recruit associates or partners from competitors, but it applies in any sector. A senior nurse moving to another trust at the same band, or an account director joining a rival agency, are both lateral moves.
Lateral hiring brings in skills and client or sector knowledge quickly, without the time needed to develop someone internally. It tends to cost more, and experienced candidates are often passive and weighing several options. Clear criteria matter here too, because a strong track record at a well-known employer can create a halo effect that hides gaps in the specific skills the role needs.