This study began with the recognition that the sustainability of startups, which must grow amidst rapidly changing market environments and resource constraints, depends not only on specific key personnel but also on the stable participation and commit...
This study began with the recognition that the sustainability of startups, which must grow amidst rapidly changing market environments and resource constraints, depends not only on specific key personnel but also on the stable participation and commitment of all team members. Startups face various challenges in their early stages, such as business model advancement, market entry, and investment attraction. In practice, the continued participation and commitment of startup members, along with technological prowess and capital, are identified as key factors in determining organizational survival and expansion. Most early-stage startups are run by their CEOs, but day-to-day operations and customer contact are reliant on individual employees. In this context, employee attrition can weaken organizational capabilities and lead to stagnant growth. While previous research has repeatedly emphasized the importance of human resource management in startup organizations, few studies have structurally examined employee retention intentions, focusing on employees' psychological ownership and relational experiences within the organization. This study aims to establish a foundation for addressing the early-stage workforce attrition problem that occurs in startups established seven years or less. This study empirically analyzed the structural relationships among psychological ownership, organizational culture, psychological resources, job stress, relationship bonding, and continued employment intentions among employees at startups. The primary objective is to explore talent retention strategies essential for startups to achieve stable growth and to suggest practical organizational management strategies applicable in practice. To achieve this goal, this study established a research model and hypotheses based on a theoretical foundation through literature review and prior research on startups and their employees. These hypotheses were then tested through empirical analysis. The empirical analysis for hypothesis testing involved collecting survey data from employees at startups established seven years or less in various regions of Korea. Data were analyzed using SPSS and AMOS Frequency analysis was used to analyze sample characteristics and usage patterns, and descriptive statistics were used to examine the normality of variables. Cronbach's α coefficient was used to assess the reliability of the survey and exploratory and confirmatory factor analyses were conducted to confirm that each questionnaire item clearly reflected the concepts of this study. Furthermore, correlation analysis between variables was used to assess discriminant validity, and structural equation modeling was conducted to test hypotheses based on the refined measurement items. Finally, based on the empirical statistical analysis results, the practical implications of the research findings, limitations of this study, and challenges for future research were summarized. The empirical analysis results of this study are as follows. First, both organizational ownership and job ownership were found to have significant positive effects on engagement. Furthermore, the relationship between job ownership and satisfaction was found to have a significant positive effect. However, organizational ownership did not have a statistically significant effect on satisfaction. Second, both organizational ownership and job ownership were found to have significant negative effects on emotional stress and work-related stress. Third, the organizational cultures of group culture, innovation culture, and hierarchical culture significantly affected engagement, while rational culture was insignificant. In terms of the relationship with satisfaction, innovative culture, hierarchical culture, and rational culture were found to have significant effects. On the other hand, group culture was statistically significant, but in the opposite direction of the hypothesis. Fourth, the organizational cultures of group culture, innovation culture, and hierarchical culture were found to have statistically significant negative effects on emotional stress, while rational culture was insignificant. In terms of the relationship between work stress and innovation culture, hierarchical culture, and rational culture showed significant negative effects, while group culture showed a negative effect, contrary to the hypothesized direction. Fifth, psychological resources such as commitment and satisfaction were found to have a positive effect on relationship bonding. Sixth, the relationship between emotional stress and relationship bonding was insignificant, while the relationship between work stress and relationship bonding was found to have a significant negative effect. Seventh, the relationship between relationship bonding and continuance intention was found to have a positive effect. The implications of this study's empirical analysis are as follows: First, by confirming that psychological ownership among startup employees significantly influences psychological resources (commitment and satisfaction) and job stress (emotional and work-related stress), we suggest that psychological ownership goes beyond a simple emotional concept and is a key factor in explaining employee retention and organizational stability. This suggests that understanding the organizational participation experience of members of startup organizations requires expanding the perspective from a performance-oriented perspective to include the process of forming psychological and relationship bonds based on a sense of ownership. Second, organizational culture was found to enhance employee engagement and satisfaction, alleviate stress, and foster relationship bonds. Specifically, this finding confirms that an organizational culture that balances innovation and structural stability is effective in retaining talent. This suggests that startups need to move beyond a reliance on free experimentation and flexibility and instead establish a systematic culture with clear work standards and collaborative processes. Furthermore, since relationship bonds were identified as a variable affecting employee retention intentions, it highlights the need for core principles such as building trust among employees, establishing emotional support systems, and fostering an organizational climate of mutual recognition and communication. This study holds significant academic and practical significance in quantitatively examining the impact of intrinsic motivation and relational bonds on employee retention intentions at startups. Nevertheless, this study has the following limitations, which need to be addressed through future research. First, while this study conducted an empirical analysis on employees at domestic startups, organizational operations and employment structures vary depending on industry, growth stage, capital raising method, and organizational size. Therefore, generalizing the findings to all domestic startups is limited. Future research should consider comparative studies across organizational types, including technology startups, social enterprises, and franchise-based startups. Second, the use of survey data based on respondents' subjective perceptions may be susceptible to social desirability bias and common method bias. Future research should strengthen measurement validity by incorporating supervisor and peer evaluations, human resource data and performance indicators, and emotional interaction analysis. This study empirically elucidates the structure of how psychological ownership and organizational culture among startup employees lead to psychological resources, job stress, and relationship bonding, ultimately leading to intention to continue working. This study suggests the need to approach turnover issues from the perspective of employee psychological experience and relationship-based resource management. Furthermore, by expanding research on the intention to continue working among startup employees and deriving practical implications applicable to actual organizational operations and human resources management, this study is expected to contribute to laying the foundation for sustainable growth for startup.