**Only 50.4% of mid-sized enterprises have confirmed their hiring plans… Small businesses also only have a 47.4% confirmation**
In the second half of this year, the number of confirmed hiring plans for large companies is at the lowest level in the past 10 years.
HR Tech company Incruit surveyed a total of 808 domestic companies from August 8 to 31 to assess the hiring trends for the second half of 2024. According to the results, out of 103 large companies surveyed, 35.0% have confirmed their hiring plans. This is a 43.8% point decrease compared to last year and the lowest level since the survey began in 2014.
The number of confirmed hiring plans for mid-sized and small businesses has also declined. Among 117 mid-sized enterprises, 50.4% have confirmed their hiring plans, a 4.0% point decrease from last year, while 47.4% of 588 small businesses have confirmed their hiring plans, a 10.6% decrease from the same period.
When looking at the hiring scale, 53.8% of large companies have set hiring plans in the single-digit range, while 46.2% are in the two-digit range. None of the large companies surveyed planned to hire three-digit numbers, continuing the trend from last year.
Large companies planning to hire in the single-digit range increased by 23.8% points compared to last year, while the intention to hire in the two-digit range decreased by 23.8% points. Mid-sized enterprises had 57.1% planned for single-digit hirings, 40.5% for two-digit hirings, and 2.4% for three-digit hirings. The intention to hire in the two-digit range increased by 17.4% points compared to last year. Small businesses had the highest percentage (92.0%) planning to hire in the single-digit range, with no intention to hire in the three-digit range this year.
Regarding the hiring process of companies with confirmed hiring plans, the survey found that 61.9% conducted rolling admissions, 22.6% held open recruitment, and 15.5% offered internships (pre-hire conversion and job experience types). The proportion of rolling admissions decreased by 5.9% points compared to last year, while internship hiring increased by 7.3% points. Regular open recruitment decreased by 1.4% points.
The decrease in rolling admissions was seen as a sign of a sluggish overall job market, according to Incruit. Hiring methods at large companies consisted mostly of regular open recruitment (61.9%), followed by rolling admissions (26.2%) and internships (11.9%).
Regarding the conservative hiring plans of large companies due to uncertain business environments, Incruit CEO Seo Mi-young advised utilizing the increased internship opportunities compared to last year to build up qualifications.