Businesses are increasing wages less and less.

VTV.vn - In the period 2023 - 2025, the salary increase rate in enterprises will fall to a record low in the past 10 years, at 6.3%.

Sharing about the Talentnet-Mercer 2025 Comprehensive Salary Survey, Ms. Nguyen Thi Quynh Phuong - Director of Human Resources Solutions, Talentnet said that the trend of low salary increase is consistent between foreign-invested enterprises (MNCs) and domestic enterprises.

From an increase of 7.7% (for domestic enterprises) and 7% (for foreign-invested enterprises) in 2022, salary increases in both regions will decrease to 6.7% in 2023 and then continue to 6.3% in 2025, a record low in the past 10 years.

The Talentnet-Mercer 2025 survey was conducted with 678 enterprises, including 606 MNC enterprises and 72 domestic enterprises.

Ms. Phuong assessed that this situation reflects the caution and the trend of tightening human resource budgets globally as well as in Vietnam. Enterprises reduce salary increases, even freeze salaries as a way to cut spending, reduce pressure on fixed costs and operating costs.

During this period, businesses will also increase the rate of staff reduction. In particular, the domestic business sector will increase from 3.2% in 2023 to 4.7% in 2024, mainly due to restructuring and streamlining activities. By 2025, this figure will decrease to 2.7%. In the MNC sector, the staff reduction rate will be 3.3% in 2023 and 2024, and 1.6% in the first half of 2025, reflecting the ability to control personnel and plan stable resources. In 2025, most businesses will choose to maintain stability in the context of a volatile market.

The trend of low wage increases is consistent among foreign-invested enterprises and domestic enterprises.

According to the report, the three industries with the highest salary increases are chemicals (6.8%), supply (6.7%) and pharmaceuticals (6.7%). These are all fields that require highly skilled human resources, deep expertise and the ability to continuously innovate, especially when the trend of green production, sustainable supply chains and biotechnology is on the rise. Enterprises in this group tend to increase salaries more strongly than the general level to retain and attract strategic talent.

In contrast, the three industries with the lowest growth rates include insurance (5.5%), transportation and logistics (5.2%), and banking (4.7%). These industries are in the process of restructuring their operating models and applying automation technology, leading to tighter control of salary policies.

In the context of slowing wage growth, businesses tend to maintain or increase bonus budgets to ensure competitive total income for employees.

The survey results show that the actual bonus level in 2024 is close to the expected level. Of which, the MNC enterprise sector reached 15.9% (plan 16.1%), while the domestic enterprise sector reached 19.7% (plan 20.3%).

It is expected that in 2025, both business sectors expect to keep bonuses higher than in 2024, as an effort to stabilize income and retain talent during a period of economic volatility.

Source: https://vtv.vn/doanh-nghiep-ngay-cang-it-tang-luong-100251018135355988.htm