This study explores the relationship between perceived employability and individual as well as organizational characteristics of employees in South Korea using hierarchical linear modeling (HLM). Gender, age, total work experience, turnover, positive psychological capital, proactive personality, social network capital and openness to changes at work were the individual characteristics considered. Organizational characteristics included fairness in human resource management, supervisor feedback and organizational career development support. The analysis confirmed the importance of individual characteristics as well as the role of organizations in reinforcing one's perception of employability. Implications and directions for future research are discussed.