63.8% of Young Employees Stay Over 2 Years... "Due to Gyeongnam Sangsaeng Mutual Aid Project"

Youth prioritize improvement tasks in order: wages → work style improvement → expansion of welfare benefits system

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] The 'Gyeongnam Win-Win Mutual Aid Project' promoted by Gyeongnam Province has been found to have a significant effect on maintaining youth employment.

On the 17th, Gyeongnam Province announced that according to the monitoring results of the youth job employment environment for the Gyeongnam Win-Win Mutual Aid Project, 63.8% of youths employed by companies in Gyeongnam have worked for more than two years.

The Gyeongnam Win-Win Mutual Aid Project is a representative employment incentive program independently promoted by Gyeongnam Province.

For companies, in addition to government subsidies, a corporate support fund of 1.5 million KRW per youth enrolled in the government-type mutual aid (Naeil Chaeum Mutual Aid), up to five youths, is provided. Furthermore, for youths who continue to work for more than one year after maturity, a youth support fund of 6 million KRW per person is paid.

Combining the government-type mutual aid maturity fund (2 years) of 16 million KRW, youth savings of 2 million KRW, and youth support fund of 6 million KRW, a lump sum of 24 million KRW can be prepared.

From October 13 to November 25 last year, the province conducted an employment environment inspection targeting 205 workplaces (response rate 67.9%) and 287 youths (54.4%).

The survey results showed that the retention rate of youths enrolled in the mutual aid for more than two years was 63.8%. Following this were women (64.7%), university graduates (71.1%), companies with over 100 employees (72.1%), and the service industry (70.9%), which recorded high rates.

However, 44.5% of respondents answered that they plan to resign within the next two years. The reasons for resignation included low wages (48.1%) and working environment and corporate culture (18.5%).

Among the 287 youth respondents, 134 (46.7%) said that 'enrollment in the mutual aid greatly influenced their retention.'

However, satisfaction with the working environment scored only 2.75 points out of 5, indicating a need for improvement.

Specifically, 'employment stability' (3.62 points), 'job content' (3.29 points), 'evaluation and compensation' (3.27 points), 'organizational culture' (3.22 points), and 'vacation compensation' (3.10 points) were relatively high, but satisfaction with related items such as 'my growth' (2.96 points), 'company growth' (2.91 points), 'working hours' (2.89 points), and 'welfare benefits' (2.89 points) was low.

Regarding the improvement tasks for the working conditions of youth in small and medium-sized enterprises, youths most frequently cited 'improvement of low wage levels' at 52.3%.

Next were 'improvement of working methods' at 39.7%, 'expansion of welfare benefit systems' at 31.0%, and 'improvement of organizational culture within the company' at 22.6%.

The province stated, "We plan to create a youth-friendly corporate ecosystem to ensure the long-term employment retention effect of youths in the future."

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