Tet Bonus 2018: Only 4% of businesses give bonuses of more than 2 months' salary
Even when profits are low, 80% of businesses still choose to give Tet bonuses to employees, according to a recently released survey.
VietnamWorks, the online job portal of Navigos Group, has just released the report “Summary survey on benefits and Tet bonuses in 2017”.
The report's content is based on survey results of more than 1,800 job seekers and 400 human resources experts from businesses in the unit's user database.
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The survey results show that the Top 3 forms of Tet bonuses that employees expect the most and that businesses consider the most reasonable are: bonuses based on business profit, work results and 13th month salary, job classification, and department classification. However, employees have not really received the Tet bonus as expected when nearly 20% of respondents are interested in Tet bonuses based on work results, but only less than 8% receive this level. The report shows that, in reality, only 4% of businesses give bonuses of more than 2 months' salary.
"When asked if the company falls into a low-profit business situation this year, 80% of businesses still choose to give Tet bonuses to employees. Accordingly, 36% of businesses said they will keep the year-end bonus as usual, 44% said they will still have bonuses but they will be less than every year," the report said.
According to VietnamWorks experts, this is a positive sign when businesses have a better understanding of the importance of Tet bonuses. On the employee side, when asked about not receiving Tet bonuses this year, up to 25% of employees participating in the survey said they would quit their jobs and find other places with better benefits; 40% said they would work with their colleagues to make recommendations to businesses about Tet bonuses.
Meanwhile, according to this unit's data, nearly 14% felt disappointed but did not dare to react because it was difficult to find another job.
According to the survey results, for both businesses and employees, the top 5 welfare packages that most industries are interested in, in order, are: attractive salary, attractive bonus, annual salary increase, insurance, and annual leave.
According to the survey results, benefits packages are of great importance in retaining talent. In addition, mSatisfaction with the current benefits package is also a factor that affects the long-term commitment of employees to the company.
"25% of employees surveyed are 'dissatisfied' with their current benefits package to varying degrees, and 90% of them intend to look for a new job in the next 6 months," the report said.