Ho Chi Minh city, April 13th, 2022Navigos Group, Vietnam’s leading recruitment service provider, which has owned the online job-searching website VietnamWorks, the middle and senior personnel recruitment company Navigos Search, published the report: “Talent guide 2022: Salary situation and Employees Expectations”.  The report collected data from survey with more than 6800 candidates are working in 27 industries. This report will give an overview about the salary of industries in 2021 as well as the employees’ expectations about the bonus and welfare regime in 2022.

Part 1: Overview of employee wage, bonus, and welfare regime in 2021

  1. Welfare regime received in addition to the employee’s salary 13th month salary is the biggest welfare regime

When asked about the benefits that employees receive in addition to salary, we found that the list of the top 10 benefits that employees receive up to the time of salary survey 2022, ranked in descending order as follows:

1. 13th month salary.

2. Health and medical benefits.

3. Health and wellness programs

4. Flexible working hour

5. Car/Transportation Allowance

6. Overseas assignment

7. Salary advance

8. Flexible working mode

9. Extra leaves

10. Financial support for study

In 2021, the highest average bonus that employees receive is one month’s salary, accounting for 40.5%. Followed by more than 22% of participants who received a bonus of two months salary a year and nearly 20% of those who received a bonus of three months salary or more. Up to 12.85% of employees receive bonuses of less than one month’s salary.

  1. Level of employees’ satisfaction on the company’s welfare regime

According to the data, nearly 33% of the respondents are satisfied and highly satisfied with the current company’s welfare regime. 46% are neither satisfied nor dissatisfied with the company’s regime. Besides, more than 20% are not satisfied with the current company’s welfare regime.

  1. Factors that retain employees with the current company

Salary is not in the top three most important factors to retain talent

The majority of survey respondents chose Working Environment – Colleagues and Job Stability as the top three factors that keep employees working at the current company with the rate of approximately 13% for each factor. Work location accounts for nearly 12%. Wages ranked 4th on the list with 11%.

There are other factors such as: Company brand, Learning and Development opportunities at the existing organization are also reasons why people stay with the company they are working for.

Salary is the most important of the deciding factors when choosing a new job

Although salary is not in the top three most important factors to keep employees with their current company, it is the most important factor when they decide to change jobs with 17%. Followed by two factors of Working Environment – Colleagues and Learning and Development opportunities with 12% and 11% respectively.

Part 2: Impacts of Covid-19 pandemic to the labor market

  1. Impacts of Covid-19 pandemic on workers’ incomes

Nearly 39% of survey respondents are affected by salary reductions to job cuts

According to the survey, nearly 39% of respondents said that they have suffered a negative impact from the impact of Covid-19 pandemic on the business they are working for. These impacts range from less than 10% to more than 50% pay cuts and layoffs, salary delays and staff cuts.

Besides, 61.11% of survey respondents said that their salary was not affected by the Covid-19 pandemic. 

  1. Impacts of Covid-19 pandemic on the success rate of wage increment proposals

More than a half of the participants said that they had not proposed a salary increase in 2021 because it is not a suitable time

According to data from the survey, up to 57.59% of the participants said that they had not proposed a salary increase in 2021 because the Covid-19 pandemic situation has severely affected the business situation. Meanwhile, up to 11.59% of survey respondents said that they had requested to increase their salary but were unsuccessful.

In addition, nearly 28% of survey respondents were successful in proposing a salary increase. Salary increases range from 3% to over 20%.

Part 3: Employees’ expectations in 2022

  1. Expectation of Laborers on the internal promotion policies of the company in 2022

Nearly 50% of the responses did not have answer about the company’s promotion policy in 2022

When asked about the company’s promotion policy in 2022, the majority of survey respondents (more than 42.21%) were unable to provide an answer. The Vietnamese economy in general, and business recovery in particular, are heavily reliant on how the Covid-19 pandemic situation evolves next year. Employees are unsure whether the pandemic condition is improving or worsening, thus they cannot be certain when giving a response.


 

Roughly 38% of survey respondents are hopeful about the company’s promotion policy in the coming year

The survey showed that approximately 38% of survey respondents are hopeful about the company’s promotion policy in the coming year. This proves that workers are expecting the economic recovery of businesses in 2022 is very feasible.

  1. Job intention of workers in the next 3 – 6 months

According to survey data on employees’ intentions toward job change, up to 42.45 % answered that if a better opportunity became available, they would switch to a new job. Furthermore, 15.32% said they were still trying to find work. 2.16% of those surveyed reported finding new work.

Nearly 14% of respondents intend to change jobs in the next 3 to 12 months and nearly 23% of survey respondents have no intention of changing jobs in the near future.

Part 5: Benefit of Navigos Group’s report

This report provides to businesses these benefits:

– Create an advantage for business in recruiting and retaining talent: Knowing the real-time salary in the market, businesses can come up with effective recruitment strategies.

– Help adjust the salary based on the actual market: The Salary Report helps companies adjust salaries and offers attractive benefits packages for both employees and potential candidates.

– Develop a salary structure: For businesses that do not have a salary structure, the Salary report can help them build it more easily and systematically.

– Acknowledge the salary of companies in the same industry: Being aware of companies in the field and sector they are operating will help businesses prepare better HR plans in the future.

– Get useful data for managing human resources in the organization: Navigos Group’s Salary report will provide additional data from employees including factors leading to their loyalty to the business, their decision to leave the business and their working satisfaction.  There is also other valuable information for HR departments to plan their HR strategies for the sustainable development of the business.

 

#About VietnamWorks
VietnamWorks is the largest and most popular employment portal in Vietnam. Every day, we provide nearly 5 million experienced candidates with countless new job opportunities, and we are always at the forefront of providing the best recruitment solutions for over 17,000 companies, the majority of which are multinational corporations and companies with leading brands in Vietnam

#About Navigos Search
Along with VietnamWorks, the largest and oldest online job placement website in Vietnam, Navigos Search is the market leader in providing middle and senior personnel recruitment services. Our greatest strength is a team of experienced and knowledgeable recruitment consultants with high qualifications, as well as a comprehensive database system.

#About Navigos Group
Navigos Group has entered the 20th year of operation in the Vietnamese market. Up to now, VietnamWorks has always been the leading source of recruitment data in Vietnam with nearly 5 million users and 13,000 employers registering for an account. Navigos Search is a leader in middle and senior personnel recruitment with more than 300,000 candidate resumes. Since 2013, Navigos Group Vietnam is a member of en Group specializing in providing recruitment services with its headquarter in Tokyo (Japan).