South Korean employees less likely to get promoted to senior management
South Korean employees have less than one percent chance to become senior executives, a market research firm has reported.
Korea CXO Institute highlighted that there are 6,843 executives out of 852, 136 employees in South Korea’s top 100 companies by sales this year, which is only one executive for every 125 employees.
This reflects a low 0.8% chance that employees can rise up the corporate ladder and reach senior management positions.
In contrast, previous years had a higher chance where the ratio of executives out of employees in 2011 was 0.95% and 0.94% in 2015.
Oh Il-sun, director of the Korea CXO Institute, confirmed that “the latest finding showed that it has become more difficult for rank-and-file workers to get promoted to senior posts at major South Korean companies.”