It was found that 6 out of 10 large companies have no plans for new hiring in the second half of the year (July to December) or have not yet decided on them. Analysis suggests that companies are not actively hiring due to the still high level of management uncertainty caused by the global economic slowdown and sluggish domestic demand.
According to the Korea Economic Association (KECA) on the 29th, in a recent survey of 500 large domestic companies on their plans to hire new college graduates in the second half of 2024, 57.5% of the 120 companies that responded said they had “no plans” or “undecided plans.”
Among the 42.5% of companies that established new hiring plans for the second half of this year, 64.8% said they would maintain the hiring scale compared to the same period last year, while 17.6% said they would reduce it.
The most common reason given by companies for not hiring new employees or increasing the number of employees was ‘austerity management to cope with deteriorating profitability, etc.’, at 23.8%. This was followed by economic slowdown (20.6%) and difficulty in securing talent (17.5%).
Seven out of ten companies are planning to conduct rolling recruitment. 20.8% of companies are only using rolling recruitment, while 49.2% are using both open recruitment and rolling recruitment. The Korea Economic Daily explained, “Unlike open recruitment, which recruits a large number of people over a set period of time, the timing and scale of recruitment can be flexibly adjusted, so there is less burden in establishing a recruitment plan.”
Reporter Park Hyeon-ik [email protected]
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2024-08-29 21:58:32