Navigos Group is a leading recruitment group in Vietnam which is currently owning an online recruitment website, VietnamWorks and a middle and senior recruitment service, Navigos Search. The company has published a report on “The empoyees’ choice between “Salary, Employee benefits” and “Other factors in Employer Branding”. The report was conducted results of a survey having nearly 1000 participants as job seekers and more than 400 employers.
Salary and employee benefits first put under consideration by job seekers.
60% of job seekers think that salary and employee benefits (including salary, bonus, insurance, annual leave…) are prerequisite factors for them to decide whether they apply for a vacancy or not.
The remaining 40% can be interpreted that Employer Branding (including corporate culture, business scale, investment model, industry, leadership type, working environment, company reputation in the market and in the recruitment market) is the second-factor influencing job seekers in deciding whether to apply or not.
This implies plenty of potential candidates made their decisions due to salary.
Employers confirm “Salary and Employee benefits” are the top two factors to attract candidates.
60% of businesses who participates in the survey show their agreement with the above statement. 85% of enterprises (small scale or medium from 100 to 1000 employees) believe that candidates always have a clear expectation about salary, bonus and remuneration. The above factors are also considered as the motivation of a candidate to commit a long time working and help the business achieve the common goals.
The Covid-19 pandemic reconfirms that “Salary and Employee benefits” are prerequisite factors for job seekers
80% job seekers in the survey report that the Covid-19 pandemic won’t make them change their decision to choose “Salary and Employee benefits” as prerequisite factors in their job seeking. Accordingly, 50% believe that providing a good salary and Employee benefits will be one of the main keys to show how well-developed a business is. 20% then explain that the economy has not returned to normal, so the stable income has become one of the reasons that help them reduce stress in life. 10% claim that instead of reducing the business scale and cutting off employee benefits, business still maintain salary, a company benefits will also help the working environment become more positive.
The most noticeable factors in employee benefits
The results revels 3 top factors that job seekers care most:
- Insurance schemes and health care for employees who are Information Technology/Software Engineer – Civil Engineer – Electromechanical Engineer – Administrative staff. Those in charge of middle management is very interested in this factor.
- Sales commission, Tet holiday bonus, and seniority bonus for employees who work in Marketing – Banking – Administration– Sales. Senior employees are very interested in this factor.
- Professional training program for those who work in manufacturing. Fresh graduates are very interested in this factor.
Besides, candidates in Ho Chi Minh City are most interested in having employer insurance schemes in addition to a stable income. In Hanoi, candidates prioritize to the sales bonus, Tet bonus, and attractive seniority bonus.
Top 5 factors in employer branding job seekers appreciate most
Top 5 factors in employer branding job seekers appreciate most include: Working environment (68%) – Business size (62%) – Employee insurance schemes (48%) – Business industry (43%) – Business investment type and Professional training programs (41% each).
More than 50% of candidates are interested in “other factors of Empoyer Branding” rather than “Salary and Employee benefits”, regardless their majors and working levels.
More than 50% of candidates in Education, Training, Pharmacy and Sales are more interested in “other factors of Empoyer Branding” than the “Salary and Employee benefits”. In contrast, about 60%-80% of candidates in Civil Engineering, Administration/Clerical, Human Resources, Marketing are interested in “Salary and Benefits”.
In addition, the results point out that about 60% of fresh graduates or candidates with little experience say “other factors of Empoyer Branding” is the most important in a job posting. Meanwhile, 64% of candidates with working experience or at middle and senior levels are more interested in ” Employee benefits”.
“Having career trends” is an important factor in Employer Branding for all candidates of all levels
Over 60% of candidates in Sales, Mechanical – Electrical Engineers, Banking, Accounting, Marketing and Administration/Clerical all think that having career trends is the most engaging factor in Employer Branding. This is also an important factor chosen by candidates of different working levels ranging from those with little experience to middle and senior managers.
In terms of working locations, 57% and 64% of candidates in Hanoi and Ho Chi Minh City respectively chose this factor. 57% candidates in other provinces also agree.
Employers ‘hide’ information about salary in their job posting: Reasons and attractive alternatives
Contrary to the need to know the salary of job seekers, most employers today rarely disclose the salary range. More than 15% of companies today do not disclose the salary in their job posting. Only a few companies (4-9%) will reveal the salary.
The reason is employers want to assess candidates’ ability and make the salary negotiation easier. In addition, employers also want to avoid salary questions from current employees and find more potential candidates in different working levels.
Based on the survey, 6 factors that might create an attractive job posting is there is no salary include:
- Sales bonus, Tet bonus, and attractive Seniority bonus
- Emloyee insurance schemes
- Attractive professional training program
- Career trends
- New and interesting working environment
- Excellent and experienced leadership
- Others: business scale, working locations…
Top 3 most effective advertising channels for Employer Branding
According to Employers (77%) and Job Seekers (84%) in the survey, VietnamWorks continues to be the most effective online recruitment channel. Second and third is the company website and social networking sites of the company on LinkedIn and Facebook.
Sharing from Navigos Group
To job seekers: it is recommended that candidates have different perspectives to evaluate a busines or a job. Candidates can miss the “golden” opportunity when only choosing salary and employee benefit policy. To help themselves professionally develop and find a great place to work and grow their career path, candidates should consider the following additional factors:
– Characteristics of the vacancy
– Working environment and culture
– Business leadership
– Promotion opportunities
– Labor market needs
In fact, many job seekers desire to know the salary of the vacancy. However, salary non-disclosure is one of the methods of eveluating how interested candidates are in employers branding factors. Thus, employers can find it easier to shortlist potential candidates. To attract candidates’ attention, employers can apply in their recruitment process, as below:
– Detailed job description with attractive benefits
– Creative, positive and supportive working environment
– Training roadmap and career orientation from the very first day
Download our report HERE
About Navigos Group
Along with VietnamWorks, the oldest and biggest recruitment website in Vietnam, Navigos Search is a leading company in providing middle and senior recruitment services. Both are owned by Navigos Group.
Navigos Group is about to celebrate its 19th anniversary in Vietnam market. Up to now, VietnamWorks has always been the leading source of recruitment data in Vietnam with nearly five million users and more than 15,000 employers registered. Navigos Search is leading the middle and senior recruitment service with more than 300,000 candidate resumes in the database. Since 2013, Navigos Group Vietnam is a member of en group specializing in providing recruitment services with headquarters in Tokyo (Japan).