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KMID : 1124020190350020143
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Korean Social Security Studies
2019 Volume.35 No. 2 p.143 ~ p.165
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Effects of Parental Leave Policy on Returning to Work with a Focus on Post-leave-payment System
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Yoon Ja-Young
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Abstract
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There are a large number of workers who are not returning to work due to voluntary reasons after the utilization of parental leave, while the number of beneficiaries of parental leave is increasing. In order to reduce negative effects of parental leave on the retention rate, the government introduced a post-leave-payment system and tried to reinforce incentives for workers to return to work. The post-leave-payment system is being criticized for reducing the actual amounts of benefit for workers who have been unable to continue to work for more than six months due to involuntary reasons such as corporate closure, bankruptcy, and contract expiration. This study analyzed the effect of the post-leave-payment system empirically and analyzed whether it achieved the policy goal. First, we analyzed characteristics of the workers who failed to receive the post-leave-payment. Second, the effect of the increase in the proportion of post-leave-payment is analyzed by applying the difference-in-differences method(DID). As a result of the analysis, approximately 30% of those who did not receive the post-leave-payment quit their jobs due to involuntary reasons. The raise in the proportion of post-leave-payment from 10% to 25% has a positive effect on the retention rate of the same workplace, but not statistically significant.
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KEYWORD
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Parental Leave, post-leave payment system, Employment effect, Female Labor Force Participation, Work-life Balance
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