The key to achieving success in your career may not always be a straight path to the top. The traditional concept of career success typically involves climbing the corporate ladder or seeking promotions. However, lateral career moves, where employees transition to roles that may not offer immediate advancement or increased pay, can be highly beneficial for both individuals and organizations.
Research conducted by Donald Sull and his team at the Massachusetts Institute of Technology revealed that lateral career opportunities significantly impact employee retention. Their findings indicated that the availability of sideways career moves was more than twice as influential as salary in determining an employee’s decision to remain with a company. Additionally, a study by Xin Jin of the University of South Florida and Michael Waldman of Cornell University showed that lateral moves not only benefited organizations but also increased the likelihood of future promotions and higher wage growth for employees. In essence, moving sideways can lead to upward career mobility.
Furthermore, lateral career transitions are often associated with effective management. Virginia Minni’s research at the Institute for Fiscal Studies found that the presence of a successful leader within a multinational corporation led to an increase in both horizontal and vertical job transfers among employees. This suggests that competent leaders are adept at placing individuals in roles that align with their strengths, ultimately resulting in higher long-term earnings and improved company profitability.
2024-03-21 09:15:10
Source from www.economist.com