Vietnam Management Channel

VietnamWorks survey: 27% of employees will quit their companies if their Tet bonus isn’t enough

According to a recent report from VietnamWorks, 27% of Vietnamese employees say they will quit early next year if their Tet bonuses aren’t good enough. Tet, which is Vietnam’s largest holiday, falls from February 2-9 next year.

According to VietnamWorks, 55% of employees said they would join other colleagues in demanding that employers increase their bonuses if the amount did not meet their expectations. The survey also noted that 28% of respondents in various sectors were not satisfied with the bonus they received in Tet 2018.

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The VietnamWorks survey polled almost 500 human resource experts and 3,400 job seekers. According to job seekers, the Tet bonus is an important factor for them in deciding whether to join a company, with 53% saying they look for this information when searching for a job. However, more than 50% of employers do not publish this information in their job postings.

The survey found that 64% of companies give employees Tet bonuses that exceeding the value of their monthly salaries and that 60% of companies plan to maintain the same Tet bonus that they gave this year, while 30% of companies are looking to increase it.

Employee bonuses are typically given based upon either the company’s financial performance or individual performance, according to 72% of employers. The survey found that In general, employees are satisfied with the criteria that companies use.

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It also found that benefits package attractiveness was a decisive factor for job applicants. A quarter of both employees and employers said that welfare is one of the most important factors influencing a person’s decision to apply for a job.

When it comes to welfare issues, 86% of jobseekers, said they frequently look up information on welfare and benefits while searching and applying for jobs; while 84% of companies provide information on employee benefits in their job postings.

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Although 47% of employees say they are happy with their current benefit packages, 23% said they would quit if their employers do not give them the package they expect. Resignations for benefits-related reasons are most likely to occur in the IT software sector, with 35% of employees saying that are willing to quit their current employers.

Discussing the prospects for new jobs, 28% of the respondents to the survey said that individuals who have more than 2 years of experience are most likely to find a new job that has better benefits and higher pay.