Changing Factors of Employee Satisfaction with Working Conditions: An Analysis of the Korean Working Conditions Survey

We hypothesized that the growing demand of Korean workers for work–life balance would change the factors influencing job satisfaction. We sought to verify our hypothesis by conducting a conjoint analysis based on the Korean Working Conditions Survey (KWCS). We analyzed the raw data of the KWCS, conducted by the Occupational Safety and Health Research Institute from 2006 to 2017. To complete the analysis, we counted on a conjoint model of analysis, typically used in the analysis of customer satisfaction. The dependent variable was the satisfaction of workers with their working conditions, and the independent variables were the job quality indicators identified by Eurofound. The factors that have the greatest impact on working conditions satisfaction are summarized as follows: “physical environment” for the first wave, “adverse social behavior” for the second wave, “occupational status” for the third and fourth waves, and “management quality” for the fifth wave. “Earnings” were not a major factor in determining employee job satisfaction, and the relative importance index is decreasing. According to the results of the analysis of the tendencies of Korean workers, the factors that affect the satisfaction with the working conditions have changed over time. It is crucial to identify factors that affect working conditions to assure the health and productivity of workers. The results of this study demonstrate that policymakers and employers are required to attentively consider human relations and social environment at work to improve working conditions in the future.