Regarding Lateral hiring or Lateral Recruitment in a layman language: Usually there are 2 types of hires 1. Lateral Hires 2. Fresher Hires.
Lateral hires are the ones which we usually work on which is nothing but experienced candidates….and the Freshers as the names says it is a fresher hires.
Freshers hires can be of 2 types…campus & off campus.
Even in Campus, if some one has experience, for example : B.Tech Graduate started working for few years and then gone back to do her MBA. When she pass out of the campus.
In campus she will fall under the later hires though it is a campus hire, because courses like MBA will have mostly experienced folks and few freshers.
They finish their graduation and come to the industry to understand and get to know of what is what and then go back to Management studies.