More Than 60% of Conglomerates Reluctant to Hire New Staff
08 March, 2021
Amid the prolonged economical recession due to the COVID-19 epidemic, six out of 10 conglomerates either haven't any hiring packages or have yet to finalize them for the initial half of this year.
Doubly many as early this past year do not plan to hire fresh graduates, suggesting that the work market gets harder to crack with handful of symptoms of the epidemic going away.
The Korea Economic Exploration Institute said on Sunday a survey of Korea's top 500 companies on the recruitment plans showed that 17.3 percent wouldn't normally be hiring at all in the earliest half, compared to 8.8 percent in the same survey this past year.
Some 46.3 percent said they have not yet had the opportunity to devise hiring plans due to the uncertainty, up from 32.5 percent in the last survey.
Persons look at a bulletin panel at employment fair on Yongin, Gyeonggi Province in Feb. 24. /Yonhap
Simply a third of the firms, or 36.4 percent, decided to hire new employees, however the hiring numbers will mostly be similar to or smaller than this past year, with only three out of 10 of these looking to hire more.
The biggest reason for businesses' reluctance to employ is the economical recession because of the epidemic. About half of the firms said they designed to reduce hiring as a result of worsening market and business conditions at home and overseas. Some 12.8 percent cited the inflexibility of the work market.
"As it is difficult to tell when things will get back again to normal, it is natural for corporations to cut down on labor costs," said a business insider.
Source: