InnoBiz Companies Adopt Work-Life Balance Systems at 71.8%... Four Times More Actively Used Than General Companies

Source: Provided by the Innobiz Association

[Asia Economy Reporter Moon Hyewon] Technology innovation-type small and medium enterprises (SMEs) with more than three years of business experience certified by the Ministry of SMEs and Startups were found to utilize parental leave or spouse childbirth leave systems about four times more actively than general companies (businesses with five or more employees).

The Innobiz Association announced on the 3rd that, according to a survey on awareness of work-life balance systems conducted on 18,303 Innobiz companies (as of last November) together with the Innobiz Policy Research Institute, 71.8% of the 500 responding Innobiz companies had already introduced or intended to introduce work-life balance systems. It was also found that 40.8% of companies had already implemented such systems.

Innobiz companies refer to technology innovation-type SMEs with more than three years of business experience certified by the Ministry of SMEs and Startups based on the Act on the Promotion of Technology Innovation of Small and Medium Enterprises.

A representative from the Innobiz Policy Research Institute said, “There is research showing that the more parental leave is used, the higher the profit per employee in a business,” adding, “The competitiveness of Innobiz companies is due to active technological innovation R&D as well as efforts to improve the quality of life for workers.”

Innobiz companies expect that if work-life balance conditions are established, it will greatly help corporate management in areas such as ‘improving corporate image (44.2%)’, ‘increasing productivity (36.0%)’, and ‘easier recruitment of excellent personnel (18.2%)’.

The most necessary measures for work-life balance were identified as ▲expansion of flexible work systems such as staggered working hours ▲strengthening care services such as childcare and expansion of public daycare centers ▲campaigns to improve social awareness and corporate culture.

Cho Hongrae, president of the Innobiz Association, said, “Companies should pay attention to securing excellent talent, improving work efficiency through employee satisfaction, and realizing work-life balance amid the wave of the Fourth Industrial Revolution,” adding, “We will actively strive to enable Innobiz companies to play a leading role in improving work culture and methods such as work-family balance and smart work.”

This content was produced with the assistance of AI translation services.