A study of salary peak laborer’s retirement perception focused on the public enterprise
Article Sidebar
Main Article Content
Abstract
This study researches retirement awareness by wage peak workers in the public sector, where the growth of older workers is faster than the private sector and the employment of human resources is relatively rigid. To that end, this study used qualitative research methods to select ○○ company considering wage peak system, aging workforce, and salary peak employee size. The main results of the in-depth analysis at ○○ company are as follows: First, this study shows that wage peak workers experience retirement from outlier to outsider, the 60th birthday at their workplace, and not retirement but resign. Second, through in-depth interviews, three topics were the retirement age at the age of sixty, face retirement, prepare for retirement. The following was analyzed that the retirement age at the age of sixty is babyboom-generation, my job-public enterprises, salary-peak system and aged friendly personnel system, face retirement is old age and relax, new start and forced frustration, prepare for retirement is family, relation, health, finance and housing, work, leisure and service Based on the above research results, The wage peak system, which was introduced exclusively for the aged society, should be implemented in conjunction with the aging-friendly personnel system, such as welfare support, education training, transfer support system and job relocation, rather than the design of simple wage adjustment system, and the need to provide support for the formation and management of an organization culture in which senior citizens and young workers can work together in an aging society.
Metrics
Article Details
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
Ahn, G. S., & Kim, Y. G. (2007). Developing retirement preparation program for male salaried workers and evaluating its effectiveness. Family Relations, 12(1), 93-118.
Arai, K. (1982). Theories of the seniority-based wage system. Hitotsubashi Journal of Economics, 23(1), 53-67.
Bang, H. N., Uh, S. B., Yoo, G. C., Lee, S. M., & Ha, G. R. (2012). A Study on the Management of Retirement and the Actual Condition of the Retirement Age of Enterprise. Korea Labor Institute.
Blau, Z. (1974). Old Age in a Changing Society. New York: Franklin Watts. https://doi.org/10.2307/583127 DOI: https://doi.org/10.2307/583127
Bysted, R., & Jespersen, K. R. (2014). Exploring managerial mechanisms that influence innovative work behaviour: Comparing private and public employees. Public Management Review, 16(2), 217-241. https://doi.org/10.1080/14719037.2013.806576 DOI: https://doi.org/10.1080/14719037.2013.806576
Card., D., & T. Lemieux (2001). Can falling supply explain the rising return to college for younger men? A cohort based analysis. The Quarterly Journal of Economics, 116(2), 705-746. https://doi.org/10.1162/00335530151144140 DOI: https://doi.org/10.1162/00335530151144140
Choi, T. S., & Kim, H. J. (2015). Wage Peak System of Local Public Corporation in Korea: Problems and Recommendations. Local Administration Studies, 29(4), 161-188.
Creswell, J. W., & Miller, D. L. (2000). Determining validity in qualitative inquiry. Theory into Practice, 39(3), 124-130. https://doi.org/10.1207/s15430421tip3903_2 DOI: https://doi.org/10.1207/s15430421tip3903_2
Donna H. R. (1978). Aging in Mass Society: Myths and Realities. N.Y.: Harpner Collins. https://doi.org/10.1093/ptj/58.10.1288 DOI: https://doi.org/10.1093/ptj/58.10.1288
Gary A. Adams, Julie Prescher, Terry A. Beehr, Lawrence Leposto (2002). Applying work-role attachment theory to retirement decision- making. The International Journal of Aging and Human Development, 54(2), 125-137. https://doi.org/10.2190/jruq-xq2n-up0a-m432 DOI: https://doi.org/10.2190/JRUQ-XQ2N-UP0A-M432
Glaser, B. G., & Strauss, A. L. (2017). The Discovery of Grounded Theory. Chicago: Aldine. https://doi.org/10.4324/9780203793206-1 DOI: https://doi.org/10.4324/9780203793206
Hebbink, G. E. (1993). Production factor substitution and employment by age group. Economic Modelling, 10(3), 217-224. https://doi.org/10.1016/0264-9993(93)90018-b DOI: https://doi.org/10.1016/0264-9993(93)90018-B
Hong, S. H., & Kwak, I. S. (2007). Causal Effects on Attitude toward Retirement and the Level of Retirement Planning. Journal of Korean Home Management Association, 25(2), 89-104. DOI: https://doi.org/10.7466/JKHMA.2019.37.2.89
Hutchens, R. M. (1987). A Test of Lazear’s Theory of Delayed Payment Contracts. Journal of Labor Economics, 5(4), 153-170. https://doi.org/10.1086/298170 DOI: https://doi.org/10.1086/298170
Jousten, A., Lefebvre. M., Perlman, S. & P. Pesieau (2010). The effects of early retirement on youth employment: The case of belgium. 47-76, The University of Chicago Press. https://doi.org/10.7208/chicago/9780226309507.003.0002 DOI: https://doi.org/10.7208/chicago/9780226309507.003.0002
Kang, E. N. (2013). A Exploratory Study on Multiple Trajectories of Life Satisfaction During Retirement Transition: Applied Latent Class Growth Analysis. Korea Association for Social Welfare Studies, 44(3), 85-112. https://doi.org/10.16999/kasws.2013.44.3.85 DOI: https://doi.org/10.16999/kasws.2013.44.3.85
Kalwij, A., Kapteyn, A. & d. V. Klaas (2009). Early Retirement and Employment of the Young in the Netherland. Labor and Population Working Paper. WR-679. Available at SSRN: http://ssrn.com/abstract=1371889. DOI: https://doi.org/10.2139/ssrn.1508429
Kim, S., & Feldman, D. C. (2000). Working in retirement: The antecedents of bridge employment and its consequences for quality of life in retirement. Academy of Management Journal, 43(6), 105-210. https://doi.org/10.7208/chicago/9780226309507.003.0009 DOI: https://doi.org/10.2307/1556345
Kim, Y., & Cho, Y. C. (2016). Impact Of Retirement System On Job Satisfaction And Loyalty: A Case Of The Salary Peak System. International Business & Economics Research Journal, 15(1), 27-39. https://doi.org/10.19030/iber.v15i1.9582 DOI: https://doi.org/10.19030/iber.v15i1.9582
Kwon, S. Y., & Kim, S. K. (2012). The Determinants of Adopting Wage Peak System in Korean Companies. Korean Journal of Economics and Management, 30(4), 1-21.
Ki, Y. H. (2000). Theoretical Foundation of the Development Model of Lifelong Education Program for Retirement Preparation. Andragogy Today, 13(4), 17-41.
Kim, K. Y., & Ko, M. A. (2009). A Study on the Effect of the Introduction of Food Service Companies’ Salary Peak System on their according and Organizational Commitment. International Journal of Tourism and Hospitality Research, 23, 81-95.
Kim, S. Y. &, Yoon, H. Y. (2013). Effects of Retirement Stress, Character Strengths, and Marital Dissatisfaction on Post-retirement Depression. Korean Journal of culture and social issues, 19(4), 553-576.
Kim, J. S., & Cho. H. Y. (2017). Another View on the Social Discourse of Productive Aging in Korea. Society Science Studies, 24(2), 7-28. DOI: https://doi.org/10.46415/jss.2017.06.24.2.7
Kim, J. H. (2008). Status of Salary Peak System Adoption and Policy Issues. Labor Review, 33-44.
Kim, C. H., & Choi. Y. S. (2010). The Effect of the Outplacement for Public Enterprises on the Organizational Trust and Immersion and the Corporate Performance, Korea Public Personnel Administration Review, 9(3), 99-127.
Kim, H. Y., Oh. H. K., & Park, S. M. (2015). An Empirical Study on the Effects of Family Friendly Policies on Work-Family Conflict in Public and Private Organizations: With a Focus on a Moderating Role of Instrumental and Emotional Support from Family. Korean Association of Governmental Studies, 27(2), 482- 511.
Kim, S. W., Moon, J. Y., Chung, S. D. (2010). A Study on the Relationship between Social Networks and Retirement Satisfaction of Old Retirees. Journal of the Korea Gerontological Society, 30(4), 1145-1161.
Marvel, J. D. (2015). Public opinion and public sector performance. International Public Management Journal, 18, 209-227. https://doi.org/10.1080/10967494.2014.996627 DOI: https://doi.org/10.1080/10967494.2014.996627
Lazear, E. P. (1979). Why Is There Mandatory Retirement? Journal of Political Economy, 87(6), 1261–1284. https://doi.org/10.1086/260835 DOI: https://doi.org/10.1086/260835
Lee, K. O., & Lee, J. Y. (2005). The Study on the Adaptation Process of Young Old Men and the Perspective after Their Retirement. Asian Social Work and Policy Review, 57(1), 93-120.
Lee, Y. M., & Jung, S. A. (2014). An Exploratory Study on the Policy Activation of the Retirement Wage Peak System for the Baby Boomer Generation. Labor Policy Studies, 14(1), 35-67.
Lee, J. W. (2015). Comparative Study on the Wage Peak System and the Gradual Retirement System as Bridge System to Retirement for Old Employees. Society Security Studies, 31(4), 187-225.
Lee, J. M., Park, S. H., Jung, S. H., Kang, C. H., & Jo, S. M. (2012). The Peak Wage System in Korea in Comparison to Japanese Experiences. Journal of Human Resource Management Research, 19(1), 1-26.
Mason, J. (2010). Qualitative Researching. Seoul: Nanam.
Merrian, S. B., & Tisdell, E. (2015). Qualitative research: A guide to design and implementation (4th ed.). San Francisco: Jossey-Bass.
Noh, G. P. (2015). Public institutions and Retirement age extension with wage peak system acceptability. Academic Conference of the Korean Association of Labor and Management Relations, 603-621.
Noh, J. C. (2015). Comparative Review on the Introduction and Operation of Salary Peak System: Focusing on Korea and Japan. The Journal of the Korea Contents Association, 15(11), 93-103. https://doi.org/10.5392/jkca.2015.15.11.093 DOI: https://doi.org/10.5392/JKCA.2015.15.11.093
Oh, G. T. (2017). For the job-oriented wage system. Labor Review, 150, 9-18.
Oh, S. S. (1998). Unemployment shock relief program. Korea Psychology, 1, 863-866.
Oh, H. G., Park, S. M. (2015). Research on the Relationship between Public Employees’ Confucian Values and Creative Behaviors: Revisiting the Managerial Role of Ethic. Governmental Studies, 21(3), 65-93. https://doi.org/10.19067/jgs.2015.21.3.65 DOI: https://doi.org/10.19067/jgs.2015.21.3.65
Oshio, R., Shimizutani, S. & A. S. Oishi (2010). Does social security induce withdrawal of the old from the labor force and create jobs for the young: The case of Japan. 217-242. The University of Chicago Press. https://doi.org/10.7208/chicago/9780226310008.003.0008 DOI: https://doi.org/10.7208/chicago/9780226310008.003.0008
Park, G. S. (2016). Age Management: A Way of Longer Working Life. Korean Journal of Local Government & Administration Studies, 30(2), 299-318. https://doi.org/10.18398/kjlgas.2016.30.2.299 DOI: https://doi.org/10.18398/kjlgas.2016.30.2.299
Park. S. H., & Lee, M. J. (2013). Social recognition as a determinant of happiness. Korea Society for Social Theory, 23(2), 361-391. https://doi.org/10.17209/st.2013.11.23.361 DOI: https://doi.org/10.17209/st.2013.11.23.361
Park, Y. C. (2015). Labor in the Age of Aging; Problems of the Wage Peak System and the Desirable Direction of Development. Labour & Society, 183, 17-26.
Park, W, S., Ahn, J. T., Oh, H. S., Ahn, H. T., Park, H. J., Yoon, D. Y., Seong, S. H., Yoo, G, C., & Kim, D. B. (2014). Let’s prepare personnel management for the 60th year of retirement. Seoul: Hodu Namu.
Ryu, E. Y. (2014). The Moderating Effect of Collectivism on the Relationship between Leader’s Behavioral Types and Subordinate’s Innovative Activities Using PLS-Structural Equation Model: Focused on Employees in Public Enterprises. Korea Public Personnel Administration Review, 13(1), 233-264.
Seok, S. H. (2012). Income Distribution of the Elderly and Desirable Income Support Directions. Korea Employment Information Service.
Son, J. C. (2010). Determinants of Retirement and Retirement Satisfaction in Korea. Labor Policy Studies, 10(2), 125-153.
Van Ours J. C., & Stoeldraijer, L. (2011). Age, wage and productivity in Dutch manufacturing. De Economist, 159, 113-137. https://doi.org/10.1007/s10645-011-9159-4 DOI: https://doi.org/10.1007/s10645-011-9159-4
Wang, M. (2007). Retirees in the retirement transition and adjustment process: Examining the longitudinal change patterns of retirees psychological well-being. Journal of Applied Psychology Profiling, 455-474. DOI: https://doi.org/10.1037/0021-9010.92.2.455