No Salary Jump This Year Either... "Job Change? Maltugi Is the Truth"

Incruit's Survey on Recruitment Issues to Watch This Year
Advice from HR Managers

A significant number of corporate HR managers forecast that this year’s new employee recruitment will contract further, and current employees will tend to refrain from resigning or changing jobs, staying longer at one company.

[Photo by Incruit]

Incruit announced on the 3rd the results of a survey on 'HR issues to watch in 2024' conducted among 768 HR managers (corporate members). The survey included 45 large companies, 109 mid-sized companies, and 614 small businesses, and was conducted from the 14th to the 21st of last month.

The most frequently selected issue by HR managers was 'decrease in new employee recruitment' (28.9%). Incruit noted that recruitment scale decreased compared to the previous year in both 2022 and 2023, and it is expected that the contraction in new employee hiring will deepen further in 2024.

The next issue was the 'retention phenomenon among experienced workers' (23%). The retention phenomenon refers to the trend where, due to the ongoing economic downturn, not only is it difficult for new graduates to find jobs but also experienced workers find it hard to change jobs, leading current employees to refrain from resigning or switching companies and to stay longer at their current workplace. HR managers expect this retention phenomenon to continue this year.

The third issue was the 'increase in job seekers giving up' (20.5%). When overall recruitment, including new hires, decreases, some job seekers give up on job searching. According to the 'November 2023 Employment Trends' released by Statistics Korea last month, among the population capable of working but not actively seeking jobs without special reasons, the number of people in their 20s who are 'inactive' reached 322,000. Additionally, the 'inactive' population in their 30s and 40s, considered the backbone of the economy, continues to increase, with the 30s showing a six-month consecutive rise and the 40s a four-month consecutive rise.

Alongside this, 'acceleration of digital transformation in the recruitment process' (16.3%) was highlighted as an issue by HR managers. Incruit explained that as more companies recently adopt Software as a Service (SaaS) in their recruitment processes, the HR SaaS market is expanding. Typical examples include evaluating self-introduction letters using AI or gamifying aptitude tests online.

Other notable HR issues for 2024 included △ flexible application of the 52-hour workweek system (15.9%) △ active job change market (14%) △ increase in internal unemployment such as voluntary retirement and recommended resignation (10.7%).

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