In the US, employers are free to fire employees. This is also true in places that pursue economic freedom, such as Switzerland and Singapore. Meanwhile, in places like Korea, Japan, it is difficult for employers to fire employees.
For example, in Korea, if an employer has employed an employee for more than two years, the employer is legally required to keep the employee employed until the age of 60. Unless he has committed a serious offense, he cannot be fired even if his performance declines. Similar to Korea, Japan also has a system called shushin koyo, which also guarantees employment until retirement age.
The problem with this system is that it makes companies reluctant to hire people. In fact, youth unemployment is high in Korea because companies are reluctant to hire people. Also, from the employee's perspective, once hired, there is no risk of being fired, so the motivation to work decreases. This leads to a decline in labor productivity.
On the other hand, in places like the US, it is easy to get fired, but at the same time, companies are not reluctant to hire people, so there are many opportunities to be rehired at other companies. Therefore, the unemployment rate in the US is low.
Because of the above points, I believe that the American system is better than other countries' systems. Of course, because I live in Korea, it may be that I only see Korea's shortcomings. What do burgercels think? Are you dissatisfied with the US employment system?
For example, in Korea, if an employer has employed an employee for more than two years, the employer is legally required to keep the employee employed until the age of 60. Unless he has committed a serious offense, he cannot be fired even if his performance declines. Similar to Korea, Japan also has a system called shushin koyo, which also guarantees employment until retirement age.
The problem with this system is that it makes companies reluctant to hire people. In fact, youth unemployment is high in Korea because companies are reluctant to hire people. Also, from the employee's perspective, once hired, there is no risk of being fired, so the motivation to work decreases. This leads to a decline in labor productivity.
On the other hand, in places like the US, it is easy to get fired, but at the same time, companies are not reluctant to hire people, so there are many opportunities to be rehired at other companies. Therefore, the unemployment rate in the US is low.
Because of the above points, I believe that the American system is better than other countries' systems. Of course, because I live in Korea, it may be that I only see Korea's shortcomings. What do burgercels think? Are you dissatisfied with the US employment system?
