Over a third, or 35%, of employers in South Korea, say there is an ‘epidemic of job turnover’, according to a survey from South Korea-based Saramin HR.

The main reasons for the job turnover were 'because the compensation system such as salary is not good' (51.5%), 'because the company couldn't present a new vision' (32.2%), 'because the perception that there is no problem even if you are impatient or leave the company' (27.7%), 'because there is no systematic personnel management' (24.3%) ), ‘anxiety at the workplace' (17.3%), and 'bad rumors spread among employees' (15.8%).

Job turnover occurred mainly when 'long-term employees' (43.1%) and 'new employees' (40.6%) leave the company. The retirement of 'high-performing employees' (28.7%) and 'leadership' (16.8%) had a relatively less impact on turnover.

Meanwhile, an average of 23.2% of employees who joined the company for less than a year left the company. More than 2 out of 10 people will leave the company within one year. The most common reasons for leaving the company among the group were 'to increase their salaries' (21.4%), 'dissatisfaction with evaluation/compensation' (17.7%), and 'movement to a company with a larger social reputation and scale' (14.5%).

To prevent employee churn, companies selected 'increase in salary and bonuses' (44.3%) as their top priority policy, followed by 'reorganisation of performance compensation system' (32.7%) and 'expansion of company vision sharing and communication programs' (25.9). %).