Top 500 Companies Say 'Job Competency' More Important Than Credentials in Hiring

'Job-Related Work Experience' Decided for New Hiring

Major domestic companies were found to consider 'job-related work experience' the most when hiring. Job ability was shown to be more important than 'specifications' as a hiring evaluation criterion.

On the 24th, the Ministry of Employment and Labor and the Korea Employment Information Service announced that they conducted the '2023 Second Half Corporate Hiring Trend Survey' from November to December last year targeting HR managers of the top 500 companies by sales (315 responses), revealing these results.

[Image source=Yonhap News]

According to the survey, 35.6% of respondents cited 'job-related work experience' as the deciding factor for new hires. This was followed by 'general job competency' (27.3%) and 'major knowledge' (22.5%) as important factors.

The employment support service that companies considered most necessary was 'support for work experience opportunities' (76.2%). Specific methods of gaining work experience included 'long-term (3?6 months) internships' (74.0%) and 'participation in corporate projects and submission of results' (68.9%).

In actual hiring, a tendency to focus on job-centered recruitment was confirmed. Companies valued 'job ability and experience, etc.' (96.2%) more than 'specifications' (36.2%) as hiring evaluation criteria.

They also expected that 'occasional special recruitment' (81.6%) and 'experienced hires' (70.8%) would increase in the future.

Meanwhile, 16.1% of new employees resigned within one year, and among those who resigned, there were more new hires according to the responses. The main reason for resignation was 'employment with better working conditions' (new hires 68.6%, experienced hires 56.2%).