13th-month salary is the most popular annual bonus for Tet holiday
Both employees and employers sides evaluated Top 3 most suitable of annual bonus for Tet holiday respectively: Bonus on company’s profit; Bonus on performance; 13th-month salary, effective performance rate, an effective ranking of the department. However, employees have not been offered the Tet annual bonus as same as their expectation. Except for Bonus on company’s profit, there two offered bonuses are out of top 3 suitable annual bonus: 13th-month salary based on minimum salary range; 13th-month salary based on monthly net salary.
When asked about an unprofitable scenario, 80% of employers still offer the annual bonus for employees on Tet holiday. Regarding to 36% of them said they still firm with a year-end annual bonus as usual, 44% said its bonus will be reduced compared to last years.
Above opinion proves enterprise has been understanding important role of Tet annual bonus. On the employee’s side, when asked about no annual bonus scenario, ¼ of respondents said they will leave the job and seek for other company which has better benefit; 40% of respondents said, together with colleagues they will raise a request of Tet annual bonus; 13.7% of respondent shared they will be disappointed but not going to pay any reaction due to difficulty in getting new job situation; only 6.9% said they don’t pay much attention regarding to their income are enough to spend on Tet holiday.
Insurance factor maintains its interesting role in Top 5 most important benefits
Based on the statistic, both employee and employer sides have the same opinion on Top 5 most important benefits, respectively: Attractive salary; Attractive bonus; Yearly promotion. Sectors that voted for above benefits list included: IT; Operation/Assistance; Accountant; Customer service.
SME (small and medium enterprise) has scale from 50 – 200 employees focuses more on Company trip and Annual leave. Enterprise has scale above 500 employees prefers “Lunch allowance” into its top 5 important benefits.
There is different opinion on Top 5 most important benefit between each sector. Sectors related to creative fields such as Advertising/Communication and Architecture/Interior Design tend to prioritize “Training Courses” into its Top 5 important benefits. Manufacturing sector selected “Company trip” into its top 5 important benefits. Sales is the only sector which added “Periodic health check” into its important benefits list.
In fact, employees have not been offered Top 5 most important benefit in order as same as their expectation, especially “Annual promotion” was out of Top 5 benefits that company has been offering to them. However, Annual leave and Insurance got its higher priority position compared to employee’s expectation.
Good benefit is critical factor impacts on employee’s engagement rate
Based on the statistic’s survey, benefits play important role in retaining talent, 64.3% of employers said good benefit effects on engagement rate. On the employee’s side, 62.5% of respondents has as same opinion as employer’s side. Besides, 28% of enterprises said good benefit motivates employees to contribute to company, also 31.2% of employees agreed with this opinion.
Satisfaction rate on existing benefit impacts on engagement rate of employees. ¼ of employees expressed their “low of satisfaction” with existing benefit at different levels, 90% of them said they are seeking for a new job which has better benefits in the next 6 months, 50% of employees commented on the existing benefit is “normal”, 76.7% of them also are seeking a new job opportunity; There is only 32% of respondent said they have “high of satisfaction” with existing benefit at different levels, from 57 – 60% of them shared their intention in seeking for a new job.
Based on our observation, enterprise evaluated its good benefit higher tend to pay intention on continuous benefit improvement. 38% of employers evaluated their existing benefit from good to very good, 86% of them shared their intention in benefit improvement for the next 6 months; 50% of enterprises commented on existing benefits are normal, half of them paid intention in benefit improvement for the next 6 months; 10.6% of employers said their existing benefit is “not good”, 1.8 of enterprises defined their existing benefit is “extremely not good” both of them have not had yet any intention of benefit improvement.