SEOUL, Dec. 16 (Korea Bizwire) – Despite the somber statistic that only 38 percent of startups survive for more than three years, starting one’s own company is still a dream for many Koreans. So what do these companies seek when hiring employees to share their vision with?
In a recent government study, 77.7 percent of the surveyed HR managers from 103 companies said they were in fact in search of new employees, with preference for those aged from 25 to 29 (77.7 percent, multiple response), 30 to 34 (68 percent), and 20 to 24 (15.5 percent).
In terms of the type of new employees being sought, 64.1 percent said for “development,” while they were looking for more experienced professionals to fill assistant manager positions.
However, the “talent” that startups were looking for, and the preferred requirements for new recruits were somewhat different from those perceived by prospective or former job seekers applying to startup companies.
A majority of surveyed HR managers pointed to “responsibility” (63.1 percent) as the most important qualification, whereas those who had applied to a startup (716) said “passion and challenging spirit” (53.6 percent), and prospective applicants (320), “teamwork and communications skills”.
Among HR managers, 32 percent said the personality of the applicant played the biggest role in their ultimate hiring decision, while “experience” (16.1 percent) and “professional knowledge” (17.5 percent) were what was expected by former applicants and future applicants, respectively.
As to the biggest advantage of working for startups, all three surveyed groups said “growth potential of both employees and the company”, while for the greatest setback, they said “instability”.
HR managers perceived “sharing the company’s vision” (28.2 percent) as the most effective way to improve work satisfaction for employees, and reduce employee turnover. But former applicants said “higher wages” (20.8 percent), and prospective applicants, “corporate welfare” (26.9 percent) would be the most effective measures.
By Joseph Shin (email@example.com)