Introduction
People all say that living a happy life is their life aim and their values. Research on happiness that started from positive psychology has been approached scientifically as moving into the 21st century[1]. According to "2020 World Happiness Report" released by Sustainable Development Solutions Network (SDSN), an advisory organization of the United Nations, Korea's happiness index ranked 59th among 149 countries around the world and was near the bottom among OECD nations[2]. This report result seems to show that people in Korea are not that happy. Meanwhile, the source of happiness that early experienced employees who will play a pivotal role in Korean economy think is highly related to employment[3]. In other words, people satisfied with their jobs are likely to live a happy and interesting life as feeling rewarded. The concept of happiness can be described as the term quality of life" from a perspective of management[4]. Modern people became aware that work-life balance is an important factor in happiness and satisfaction with their jobs has a significant influence on their personal lives[5]. They can maintain their lives through their jobs, feel satisfied when they perform tasks suitable for them and ultimately obtain self-fulfillmentl6], improving the quality of their lives. Improvement in the quality of life contributes to not only enhancement of job performance and creativity, reinforcement of organization efficiency but also achievement of positive social capital[7]. Therefore, improvement in quality of personal life leads to organizational performance as an important factor that makes individual employees remain
at work stably, so an analysis on the factors that enhance quality of employees' lives is necessary. In particular, identification of the factors related to improvement in quality of life of the recent early experience employees who place more stress on their personal lives and career development than devotion to their organization and decide to change jobs[8] may be a key to the solution for matters including increase in corporate human resource management expenses.
Though there have been integrated studies on the factors influencing the early experienced employees' satisfaction in life and work[6][9], the studies on quality of life are limited to deriving the priorities regarding decision factors, so it appears that the life at an individual level should be researched more. The main causes of the early experienced employees' satisfaction in work were adaptation to the organization and tasks, pay, and benefits [10]. For career development through individual values of occupation in the diversified modern society, it is necessary to pay attention to work value and job satisfaction as a prerequisite for ones personal life. It is better to stay with one company as long as possible even for career success, but if changing jobs is inevitable, moving over to an organization with a better employment condition is beneficial. At the national level, policies that support for the early experienced employees' stable settlement in workplace should be implemented.
It can be said that it is an important task for corporate executive officers to find influential factors that lead their employees to immerse themselves in their work and organization in order to recruit talented people and help them remain at the company[11]. One of the factors
is personal preference. This is importance since it ultimately shows what values one pursues based on what he or she prefers and why Work value is an important variable in personal professional development. It means the value that they perceive about their job and career and a belief system that thinks it is desirable to choose a job and lead a career life[7][2]. Work value plays as a factor that determines the level of compensation for the job[13], and the harmony between work value and job characteristics was found to play an important role in job satisfacttion[14]. In addition, according to Lee[15], individuals intend to choose a job that harmonizes with their work values and tend to change jobs if this 1S not achieved. Therefore, identification of the work values that early experienced employees base on and improvement in their job satisfaction will raise the quality of their lives.
Satisfaction with compensation at work may vary depending on the work value, which is presumed to be linked to job satisfaction. Job satisfaction refers to ones psychological state depending on their values, belief, and attitude, and an evaluation based on emotions toward their jobs or duties according to their personal expectations[10]. telling how positive or negative they feel about their jobs or duties [13]. According to Park et al[16], job satisfaction is effective in lowering turnover intentionl12][16-18]. Early experienced employees who have just begun their career have difficulty adjusting to new working environments, and the quality of their personal lives can be improved when their job satisfaction is high at the beginning of a career in which they should judge whether to staying in the company or not[17]. Thus, exploring the ways to demonstrate the relation
between early experienced employees' job satisfaction and the quality of their lives and improve their job satisfaction can be an important key to raising the quality of life.
This study is intended to identify the mediated moderating effect including the mediating effect of job satisfaction and moderating effect of job expectations in the relation between work value, job satisfaction and quality of life.
Literature Review
1. Job Values
Job values are divided into intrinsic and extrinsic job values. Intrinsic values include job itself, achievement, satisfaction, self-actualization, and contribution, and extrinsic values include values such as economic, stability, and status [19]. And according to Ginzburg[20], occupational values are classified into three categories: intrinsic values, extrinsic values, and incidental values. Intrinsic values are satisfaction obtained from job activity itself, extrinsic values are the remuneration provided by the job, and incidental values are satisfaction accompanying job situations such as interpersonal relationships at work[21]. In addition, Yoo and Kim[22] classified the detailed items of job values into four job value factors: reputation, environment, work, and development. As such, job values are classified in various forms.
Regarding undergraduate students job values, Kim[21] said that there were differences in job values with respect to gender and major, and Ahn[23] said that undergraduate students showed differences according to grade. Other
research results showed that there was no significant difference in age and gender, but the location of university and major showed a difference in the types of occupational values, and they reported differences in first job satisfaction and turnover by occupational values type[22].
2. Job Satisfaction
Job satisfaction' is usually a subjective emotional state and refers to the results an individual obtains in his or her work life and work experience[24]. Oh and Lee[25] argued that "job satisfaction is formed by the action of several complex factors such as occupational values, work environment, human relationships, salary, welfare, stability, and prospect" through a related study. In addition, the Korea Vocational Competency Development Institute examined the factors that affect job satisfaction through the Actual Survey on Job Satisfaction among Korean Occupations" targeting 12,566 incumbents in 355 occupational groups in Korea. At this time, the survey area of job satisfaction was divided into 'job satisfaction satisfaction with job content', and satisfaction with income'. As a result, 'job satisfaction showed a high correlation with social reputation and sense of calling. And it was found that satisfaction with the contents of work' had a high correlation with the sense of vocation in the field of professional expertise. In addition, it can be confirmed that satisfaction with income has the highest correlation with welfare benefits. However, since most job index items used as questionnaire items have a significant correlation with job satisfaction, it was possible to prove that job satisfaction is a complex
concept that is affected by various aspects of the job.
If you cannot get satisfaction from your first job, the possibility of job change is high. Looking at many previous studies, it can be seen that the dominant argument is that job satisfaction and turnover and turnover intention form a negative correlation, since job satisfaction affects job performance and happiness in the personal aspect[11][13][26].
3. Job Preference
Job preference is a standard for the nature of a job' from the perspective of incumbents. Therefore, it is defined as the minimum value of the attributes that have an important influence when deciding whether to work. Therefore, jobs that do not meet the job preferences of job seekers are inevitably excluded. In this case, the level of salary is the most important criterion for judgment, and various factors such as the location of the workplace, the size of the company, and whether it is in the public sector are also decisive factors.
In the meantime, problems related to job preference have been mainly analyzed in terms of reservation wage. However, it is pointed out that systematic analysis of factors affecting job preference except for economic compensation is insufficient. If it is limited only to economic compensation, it would be much more advantageous to get a job at a large corporation than a 9th-level civil servant. However, when looking at the characteristics of the workplace, there is a limit to measuring job preference only with reserved wages because civil servants are more suitable when job security is emphasized[17].
On the other hand, in labor economics, the conditions for providing work even when workers are not able to enjoy their leisure properly are presented. That is, wages must be sufficient to offset the marginal cost of providing work. Also, according to the traditional job search model, it is explained that the job seeker sets the reserved wage first. Afterwards, if the wage of the job offered to him is higher than the reserved wage, he accepts the offer and finds a job, but if not, he argues that the best strategy is to reject the offer and continue to search for a job while unemployed. In addition, labor economics pays attention to the fact that the wage rate acts as the most important variable in the supply of labor by workers. However, job seekers actually decide to get a job after considering various factors such as job stability, company size, and location of the companyl27].
4. Quality of Life
Quality of life includes not only subjective happiness and satisfaction, but also external (structural) factors such as socio-dermographic factors[28-30]. So far, studies have looked at the quality of life, paying attention to the influence of both factors. At this time, paying attention to the importance of external factors in the quality of life, the influence of income, employment status, social relations, social climate, and inequality was emphasi:zed[7][8]. On the other hand, it places more weight on an individual's subjective evaluation and points out that objective factors have less than 15% effect on happiness[31][32] and emphasizes the influence of the subjective domain morel33-35].
Therefore, this study first focuses on the subjective dimension of quality of life. At this
time, this study also focused on the fact that [36] divided the quality of life into three dimensions: norm, environment, and emotion norm)" 'life satisfaction (environment), and subjective happiness (emotion)' constitute quality of life in three dimensions[311I35-37] and try to be careful not to reduce it to a single factor on the subjective dimension, such as happiness and life satisfaction. This can be said to be a special development of a well-balanced happiness index in terms of guaranteeing the quality of life of the young generation.
Methods
1. Research Model
In order to achieve the research purpose of this study, to examine the mediating effect of job satisfaction and the moderated mediating effect of job preference including the moderating effect of job preference in the relationship between job value and quality of life, this research model was established[Figure 1].
Figure 1. Research Mode
2. Research hypothesis and variable composition
In this study, the following research hypothesis was established in order to identify the mediating effect of job satisfaction in the effects of job value on the quality of life of the
early career graduates and to confirm the mediating effect of job preference among them. For this, the variables input to the analysis and the number and details of the items measured in the undergraduate graduate migration path survey are as follows[Table 1].
Hypothesis 1. Job satisfaction will have a mediating effect on the effect of job value on the quality of life of the early career graduates.
Hypothesis 2. Among the mediating effects of job satisfaction in the effects of job value on the quality of life of early career graduates, job preference will show a moderate mediating effect.
Table 1. Research Variables
3. Research subjects and analysis methods
This study was analyzed using data from the Graduate Migration Pathway Survey (GOMS) conducted by the Korea Employment Information Service. 2017 GOMS DATA', the data of the 2018 undergraduate graduate career migration route survey, which was recently conducted, and data organized, was used. The University Graduate Migration Path Survey, started in 2006, is a cross-sectional survey that samples about 18,000 graduates from the previous year every year. In general, if the number of missing values is less than 5% of the total, it can be removed[38], but if it is more than that, it is more effective to supplement the data with the EM method[39], so the EM method was applied.
To verify the research hypothesis through the data included in the final analysis target, descriptive statistical analysis, correlation analysis between major variables, and adjusted mediating effect analysis were performed. The data analysis program used MS Excel and SPSS 23.0 Process (Ver. 3.4 by Andrew F. Hayes). The results of analysis of demographic variables of the study subjects are shown in [Table 21.
Table 2. Demographic analysis of research participants
As a result of the analysis of the study subjects, males accounted for more than half of 9,769 (54.0%), indicating a slightly higher proportion than females (8,312, 46.0%). The average age was about 26 years old (SD=4.661), and it was confirmed that 16,326 people (90.3%) in their twenties accounted for the majority. Lastly, as a result of dividing the respondents residences based on 17 cities and provinces, Seoul (5,023 people, 27.8%), Gyeonggi-do (3,685 people, 20.4%), Busan (1,302 people, 7.2%), and Gyeongsangnam-do (1,093 people, 6.0%), etc., and the proportion of large cities and metropolitan areas was high.
IV. Research Results
1. Descriptive Statistics and Correlation Analysis
A total of 4 variables were used in this study. First, four variables were used for job value. The average was 2.300 (SD : .714) and that of social capital was 2.300 (SD : .270).
Second, parameters are wage (income), job security, content of work, working environment, working hours, personal development potential, human relations, welfare system, personnel system, social reputation for work, Job satisfaction is composed of job autonomy and authority, social reputation for job, matching one's aptitude or interest with one's job, and job-related education or training. The average of job satisfaction was 3.279 (SD=.267).
Third, the adjusted parameter is job preference, which consists of important factors (1st and 2nd priority) when choosing a job - one's aptitude and interest, relevance to major field, future prospect of the job itself, company size, and commuting distance. The average of job preference was .796 (SD=.836).
Finally, as for the dependent variable, the mean quality of life was confirmed as 4.289 (SD = .388), and the skewness of all variables was -686 to .937 and kurtosis .503 to .763, indicating severe nonnormality as a criterion for skewness. 2 or more and kurtosis of 7 or more (West, Finch, and Curran, 1995) do not meet the normality assumption.
2. Model Analysis
2.1 Mediating Effect Model of Job Satisfaction
In this study, As shown in [Table 3], the mediating effect model through job satisfaction was confirmed to be statistically significant (F=4587.385, p<.000). In detail, it was found that the independent variable, job value, and the parameter, job satisfaction, had a statistically positive (+) effect on the dependent variable, life satisfaction.
Table 3. Mediating Model Analysis Results
*** p<.001
Next, as shown in [Table 4], as a result of performing the Bootstrap test at the 95% significance level, it was confirmed that job value had a statistically significant effect on the quality of life through the direct path and the indirect path through job satisfaction as a parameter. In addition, as a result of fully standardizing the indirect effect, it was found that if the influence on job value, an independent variable, increased by 1SD, the dependent variable, quality of life, increased by 441SD through job satisfaction as a parameter.
Table 4. Mediating Effect Analysis Results
2.2 Moderated Mediating Effect Model of Job Preference through Job Satisfaction
As shown in [Table 5], the mediating effect model of job preference through job satisfaction was confirmed to be statistically significant (F=2531.985, p<.000). In detail, the independent variable, job value, and the parameter, job satisfaction, were found to have a statistically significant positive (+) effect on the dependent variable, quality of life. On the other hand, it was confirmed that the interaction between job preference, job satisfaction, and job preference, which were the control variables, had a statistically significant negative effect on the dependent variable, life satisfaction.
Table 5. Moderated Mediating Model Analysis Results
** *** p<.01, p<.001
Next, as shown in [Table 6], Bootstrap verification was conducted at the 95% significance level for the effect according to the condition of the modulating variable. As a result, the modulated mediating effect was found to have a statistically significant positive (+) effect, and the Pick- It was confirmed that the effect of each level of job preference examined by applying the a-point method decreased. Finally, as a result of confirming the adjusted mediation index, it was found to have a statistically significant negative (-) effect as -.055, indicating that the size of the adjusted mediating effect decreased as the level of job preference increased.
Table 6. Moderated Mediating Effect
※※※ p<.001
Finally, the effect of the mediating effect of the adjusted employment level through job
satisfaction was divided into direct effect and indirect effect and schematized. The direct effect was .153 and the indirect effect acted larger than the direct effect when the job preference level was low, but it was confirmed that the size of the effect became smaller as the job preference level increased, and thus the trend was lower than the direct effect.
V. Discussion
This study identified the mediating effects of job satisfaction in the influence of work value on the quality of life targeting the early experienced employees who graduated from college with the use of 2020 Graduates Occupational Mobility Survey by Korea Employment Information Service, and to verify the mediated moderating effect of job expectations, the following hypotheses were established.
Hypothesis 1. Job satisfaction will have a mediating effect in the influence of work value that early experienced employees who graduated from college have on the quality of their lives.
Hypothesis 2. Job expectations among the mediating effects of job satisfaction in the influence of work value that early experienced employees who graduated from college on the quality of their lives will have a moderated mediating effect.
To verify the hypotheses, this study set up a model in which the mediating effect of job satisfaction in the relation between work value and quality of life is controlled by job expectations. Based on this, it analyzed whether the mediating effect of work value that
influences the quality of life through job satisfaction was controlled by job expectations.
First, it was found that the mediating effect model through job satisfaction was statistically significant. In other words, it can be said that the higher the early experienced employees' work value, the higher their job satisfaction. It supports the preceding studies[11][13-15][16-18] demonstrating that work value has a positive influence on job satisfaction. In order for the early experienced employees to feel job satisfaction at work, personal aptitude and interest are important factors, but their effort to consider future prospects regarding their career and enhance intrinsic work value are needed as well. As the results of this study show that personal potential, promotion system, job stability, pay, income level, working environments and hours, and social reputation are considered more important, individual efforts for them will be necessary.
Second, work value had a statistically significant influence on the quality of life as an indirect route through job satisfaction, which is a mediating variable with a direct route. According to the result of identifying the direct route of work value and job satisfaction of the early experienced employees and the possibility of job satisfaction's influence on the quality of life, it had a positive influence on it. It is in line with the result of the study by Lee and Park [28][39] showing that satisfaction at work has a positive influence on the quality of life. It suggests that external factors are important to improve the quality of life, but a high value is placed on the meaning and values of life when achievement and passion gained from work are improved[40]. Therefore, to help early
experienced employees recognize their work value enough and reflect it in their occupational choice, support from colleges and the government for them in the process of the choice is needed. In addition, organizational efforts to help the early experienced employees who have just started their career find the meaning of work, feel rewarded, and have a positive mind in connection with their work value are required. This study is meaningful in that it verified the effect of job satisfaction in the relation with the quality of life, which is insufficiently studied[39].
Third, the moderated mediating effect of job expectations through job satisfaction was statistically significant. In detail, work value as an independent variable and job satisfaction as a mediating variable had a statistically significant positive influence on the quality of life, a dependent variable.
This study can provide implications for organizations and policies to lower the early retirement rate and stabilize employment by analyzing the effect of job value on life quality and increasing job satisfaction of early college graduates through establishing the accurate job value. In addition, various previous studies confirmed the effect of job value on the quality of life, and suggested implications for individual, organization, and further national policy based on this.
However, there is a limit to direct comparison as the detailed factors of the variable are partially different as the data on the GOMS panel for college graduates are used.
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