Korea Employers Federation, Survey of 500 Workplaces with Over 100 Employees
More than six out of ten companies plan to hire new employees this year. In particular, there was a notable preference for experienced hires among companies, and the most important evaluation factor during recruitment was identified as 'job experience.'
The Korea Employers Federation (KEF) announced on the 3rd that 66.8% of respondent companies reported having plans for new hires in its "2024 New Hiring Survey." The survey was conducted by Global Research from January 10 to 29, targeting 500 companies with 100 or more employees.
Responses indicating that new hiring decisions had not yet been made accounted for 22.2%, while 11.0% said they had no plans for new hires. Among companies planning new hires, 57.5% said the hiring scale would be 'similar to last year.' 'Expansion compared to last year' was 14.7%, and 'reduction compared to last year' was 8.7%.
Responses stating 'there are plans for new hires, but the scale is undecided' accounted for 19.2%. The larger the company size, the higher the proportion of 'undecided hiring scale' responses. This appears to reflect uncertainty about the economic outlook.
Regarding hiring methods, 60.6% of respondent companies said they conduct 'only on-demand hiring,' 32.2% said they 'combine regular recruitment and on-demand hiring,' and 7.2% said they conduct 'only regular recruitment.'
The smaller the company, the higher the proportion answering 'only on-demand hiring.' Additionally, when asked about the timing of hiring plan decisions, 62.0% responded that they 'assess and decide on an ongoing basis without a specific time point.' In a question about the biggest expected changes in this year's hiring market (multiple responses allowed), 'strengthened preference for experienced hires' was the highest at 56.8%, followed by 'increase in on-demand hiring' at 42.2%.
As the most important evaluation factor in new hiring, 74.6% of respondent companies selected 'job-related work experience.' This was followed by 'personality and attitude' (9.4%), 'job-related major' (6.2%), and 'job-related certifications' (5.4%).
Other responses included 'increase in job seekers giving up or retention (refraining from changing jobs)' (12.0%), 'increase in hiring talent related to future new industries' (11.0%), and 'expansion of artificial intelligence (AI) utilization' (9.8%).
Choi Yoon-hee, head of KEF's Youth ESG Team, stated, "Concerns about uncertainties in the internal and external business environment seem to be affecting companies' new hiring plans. Minimizing management risks through labor reform and the overhaul of outdated regulations will enable companies to make bolder hiring decisions."
Meanwhile, the Ministry of the Interior and Safety announced on the 28th that it plans to hire a total of 16,333 local government officials across 17 provinces this year. This is a 13.2% decrease compared to 18,819 last year. The number of recruits reflects the government's manpower efficiency policy, expected vacancies due to retirements and leaves, and was decided after deliberation by each local government's personnel committee.
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