At the end of the year, Tet bonuses are a concern for many employers, not only in the North but also in all provinces and cities across the country. However, representatives of many businesses said that they are trying to manage and coordinate with the Trade Union to take care of Tet for employees in the most complete way.
Commenting on the Tet bonus situation in 2024, Mr. Hoang Quang Phong, Vice President of the Vietnam Federation of Commerce and Industry (VCCI) said that up to now, most businesses have had plans to give Tet bonuses to employees.
"This year's salaries and bonuses will certainly be adjusted to increase at an appropriate level for each industry's conditions, but the specifics will depend on each business," said Mr. Phong.
Mr. Hoang Quang Phong, Vice President of Vietnam Federation of Commerce and Industry (VCCI) (Photo: Nguyen Son).
VCCI representative also expects that next year the economic situation will grow to ensure better salary and bonus regimes for workers.
Mr. Nguyen Duc Thuan, Chairman of the Vietnam Leather, Footwear and Handbag Association, informed that up to now, businesses in the industry have had plans to pay salaries, bonuses and Tet holiday schedules for employees.
"Every business gives a bonus of at least 1 month's salary, some businesses even give a bonus of up to 4 months' salary," Mr. Thuan informed.
Regarding the industry's order and employment situation next year, Mr. Thuan commented that the world market is still uncertain, and Vietnam's export markets still have a lot of inventory.
It is expected that in the first and second quarters of 2024, although the economic situation may be brighter than in 2023, it will not be able to return to the period of 2022, so it is likely that from the third quarter of 2024 onwards, new orders will improve.
Chairman of the Vietnam Leather, Footwear and Handbag Association Nguyen Duc Thuan (Photo: Nguyen Son).
Mr. Mikinao Tanaka - Senior Director - Administration Department - Canon Vietnam Co., Ltd. (Bac Ninh) said that not only this year, but also in previous difficult times, typically in the period of 2021-2022, the whole world was affected by the Covid-19 pandemic, revenue decreased but businesses still ensured salaries, bonuses as well as maintained benefits for employees at the end of the year.
The bonus level is expected to remain the same as previous years and will be adjusted for inflation to help ease the hardships of workers. Last year, 18,000 Canon workers received a bonus of 2 months salary at the end of the year (equivalent to 16 million VND/person).
Also providing information about the Tet bonus plan for workers, the representative of the Trade Union of TKG Taekwang Vina Joint Stock Company (Bien Hoa City, Dong Nai) said that in 2023, although the enterprise experienced many difficulties, the trade union successfully negotiated with the Board of Directors to have Tet bonuses and salary increases for more than 31,000 workers.
Most businesses have plans to give Tet bonuses to employees (Photo: Nguyen Son).
Specifically, the highest Tet bonus for employees working before January 15 is 150%, equivalent to 1.5 months of salary/person (including basic salary 2024 and average allowance for heavy and hazardous work in 2023). The bonus will gradually decrease for employees with shorter working hours. The estimated Tet bonus amount is about 500 billion VND.
According to the representative of the Trade Union of Hwaseung Vina Co., Ltd. (Nhon Trach, Dong Nai), despite the difficulties, the company has decided to give a one-month salary bonus to its employees on the occasion of this Lunar New Year. Meanwhile, Tokin Electronics Vietnam Co., Ltd. (Bien Hoa City, Dong Nai) has agreed to give both a bonus and a salary increase to its employees.
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