Strive for a warm and joyful Tet holiday.

This year, the overall economic difficulties and unfavorable business conditions have made Tet bonuses a significant burden for many businesses. However, to ensure their employees can enjoy the Tet holiday, many companies have had to make every effort, even struggling and scrimping, to be able to provide Tet bonuses.

For all businesses, 2023 was a year full of challenges: a lack of orders, poor liquidity, sluggish exports… According to many statistics, the repercussions linked to the global situation began to impact businesses as early as the first quarter of 2023 with a serious decline in export orders. At its peak, some businesses saw a 50-70% drop in orders, while the average decline ranged from 35-40% depending on the period. Therefore, businesses were forced to cut jobs, especially in the supporting processing sectors. According to SSI Research data, in the third quarter of 2023, the total after-tax profit of listed companies decreased by 5% compared to the same period last year, after continuously recording sharp double-digit declines in the previous three quarters. For the first nine months of 2023, the total profit of businesses decreased by 15.8% compared to the same period last year.

Although business conditions showed signs of improvement in the fourth quarter of 2023, the business results for October and November were still not as favorable as expected for most companies. One business leader exclaimed: "2023 is a difficult year, even more difficult than the years when the COVID-19 pandemic was complicated, because in those years, businesses temporarily stalled rather than running out of money like this year."

As the Lunar New Year of the Dragon 2024 approaches, amidst a challenging economic situation and a shortage of production orders, even receiving a Tet bonus is a significant achievement for many businesses. (Illustrative photo: Hong Dat/TTXVN)

With difficulties piling up, Tet bonuses have become a major concern for many business leaders. According to Mr. Nguyen Van Lam, Deputy Director of the Department of Labor, War Invalids and Social Affairs of Ho Chi Minh City, out of 1,078 businesses that submitted reports on their Tet bonus plans for 2023, 386 businesses (accounting for 35%) reported difficulties in providing Tet bonuses to their employees.

Facing difficulties, hesitation, and deliberation… but according to Mr. Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), based on preliminary observations, most businesses had already planned Tet bonuses for their employees well in advance. According to Mr. Ngo Duy Hieu, although Tet bonuses are not mandatory under the Labor Code, employees eagerly anticipate this bonus every Tet holiday. This is because Tet bonuses, besides their material value, are a great source of moral support for workers. Therefore, businesses with high social responsibility always consider Tet bonuses as a way to retain employees and increase productivity, even in the current difficult business environment, where everyone must be thrifty and persevering. As shared by Ms. Pham Thi Hong Ha, President of the Trade Union of Saigon Food Joint Stock Company: “At the end of the year, the company also faced many difficulties, but still ensured work as well as policies and activities to care for employees; announcing Tet bonuses early so that workers can work with peace of mind.”

According to Mr. Nguyen Van Lam: “Compared to last year, this year, due to difficulties in production and business activities, reduced orders, businesses had to scale back operations, and difficulties in collecting debts… affecting the year's business results and the Tet bonus plan for employees. However, businesses are still trying to implement Tet bonuses according to the bonus regulations, collective labor agreements, and labor contracts. In addition, 447 businesses (accounting for 41%) have provided practical support to employees during the Lunar New Year holiday, besides Tet bonuses, such as giving Tet gifts, shopping vouchers, lucky money, organizing transportation (or providing transportation assistance, giving bus tickets). Furthermore, during Tet, some businesses plan to organize year-end parties and visit employees in difficult circumstances, and organize Tet celebrations for employees who cannot afford to return home...” - Mr. Nguyen Van Lam added.

Despite facing many difficulties, businesses in industrial zones have still maintained good salary and Tet holiday bonus arrangements for their employees. (Illustrative photo: Duong Chi Tuong/TTXVN)

Speaking to the press, Ms. Le Thi Tam (38 years old), a worker, said that she is from Tuyen Quang but has lived and worked in Ho Chi Minh City for 10 years. Missing her family and being far from home, Ms. Tam had intended to return to her hometown for the Lunar New Year (Year of the Dragon) since the beginning of this year. However, according to her, whether she will be able to return home for the 2024 Lunar New Year depends on her financial situation at the end of the year. She would only feel secure returning home if she receives her outstanding salary and a substantial Tet bonus.

Nguyen Thi Thao, originally from Thanh Hoa province, rents a room in Hanoi and works as a factory worker producing automotive components in the Thang Long Industrial Park. At the end of the year, she and her husband remain with the company and are looking forward to their Tet bonus. "Working for the company provides a stable income to cover our living expenses. It only happens once a year, so we hope for a high Tet bonus. Even though we haven't received any information yet, we still hope for a bonus so that workers can go home and celebrate Tet happily," Thao shared.

The stories shared by Ms. Tam and Ms. Thao reflect the sentiments of many poor workers. After a year of hard work, their salary and Tet bonuses are always eagerly awaited. The more difficult the circumstances, the more they look forward to Tet bonuses. Therefore, despite the overwhelming difficulties, the efforts of businesses to provide Tet bonuses for their employees, ensuring everyone has a warm and joyful Tet, even though it is not mandated by law, can be considered a commendable and praiseworthy cultural trait, demonstrating the responsibility and conscience of businesses towards their workers.

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Source: https://www.congluan.vn/gang-suc-cho-tet-am-post278727.html