Layoffs are a difficult situation for any business, particularly smaller companies with fewer resources. But when it comes to managing layoffs in a way that is beneficial for the company and its employees, lateral hiring is a great option to consider.
Small companies often have limited resources and personnel, making it difficult to conduct the necessary research to determine the right candidates would be the best fit for their organization. There is also fierce competition for top talent and larger organizations who have the ability to automate processes and strategically source the most compatible candidates faster, are naturally going to have the upper hand.
Fortunately, small companies can arm themselves with the right technology solution to overcome these challenges. And that solution is to empower their recruiting and sourcing processes with the power of AI. With an AI sourcing platform such as Arya, candidate screening, engagement, and shortlisting is streamlined and automated, making it easy to identify the right internal and external candidates for lateral hiring. Arya simultaneously sources, scores, and ranks candidates based on 7 multidimensional data points and over 300 attributes to identify the most compatible candidate for the role.