Most young job seekers in Korea prioritize work-life balance: FKI survey

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Young and millennial job seekers in Korea are placing high value on work-life balance when considering companies to work for, according to a survey by the Federation of Korean Industries.

The survey, which polled 827 respondents in their 20s and 30s, found that 36.6 percent of respondents identified work-life balance as the most important factor in selecting a job. This was followed by companies with well-developed reward systems at 29.6 percent, companies with stable retirement plans at 16.3 percent, companies with high potential for personal and professional development at 10.4 percent and companies with a horizontal and open communication culture at 3.8 percent.

The survey results reflected a shift in the perceptions of younger generations, who place greater importance on work-life balance compared with traditional considerations such as salary and retirement plans, FKI said.

The survey also found that young job seekers prefer leaders who prioritize communication, with 77.9 percent of respondents favoring a communicative leadership style. Charismatic leaders who make quick decisions received 13.9 percent of the vote, while an empowerment leadership style that gives employees more autonomy received 8.2 percent.

To improve an employer’s image, respondents identified strengthening communication between employees as the most important factor at 37.2 percent, followed by active investment and job creation at 29.7 percent, producing high-quality products and services at 24.7 percent, actively implementing ESG practices at 5.7 percent and promoting the company’s role at 2.7 percent.

The survey also found that 70.2 percent of respondents evaluated recent efforts by management to improve communications with younger generations positively. Overall, respondents had a more favorable view of companies than an unfavorable one, with large companies viewed more favorably than negative. However, small- and medium-sized enterprises received more unfavorable responses than favorable ones, with 36.1 percent unfavorable and 21.1 percent favorable.