LATERAL RECRUITMENT?

Hello All,
Can anyone update me on what is Lateral Recruitment & what significance does it make for a Company?Request you all that instead of providing me links to different websites or webpages if you could please put on the matter here. Really be thankful for that.
Regards
:roll:

When we do a lateral recruitment, it means we are recruiting a person who has almost the same kind of designation / role / responsibilities (at the present company) as that you are offering him without any additional or only notional increase in his salary.

Mostly, lateral recruitment would mean a movement at the same level of hierarchy with similar role / responsibilities and with no hike but to a different department / section of the same company.

By definition, 'lateral' means
- of or pertaining to the side; situated at, proceeding from, or directed to a side: a lateral view.
- pertaining to or entailing a position, office, etc., that is different but equivalent or roughly equivalent in status, as distinguished from a promotion or demotion: a lateral move.
- Of or constituting a change within an organization or a hierarchy to a position at a similar level, as in salary or responsibility, to the one being left: made a lateral move within the company.
situated at or extending to the side; "the lateral branches of a tree".