The test of employee retention.

Increased Tet bonuses and early adjustments to the regional minimum wage are positive signs for the labor market at the end of the Year of the Snake. In the context of increasingly fierce labor competition, especially in large cities, salaries and bonuses are not just payments, but also a test of the ability to retain employees and the effectiveness of labor policy management by localities and organizations.

Every spring, Tet bonuses are always a major concern for workers. Beyond their material value, bonuses also hold spiritual significance, representing the recognition from employers and local authorities for the efforts and dedication of employees throughout the year. Figures released by the Ministry of Interior show a brighter picture of Tet bonuses this year. The average Tet bonus reached 8.69 million VND per person, a 13% increase compared to the previous year; in Ho Chi Minh City alone, the highest bonus reached 1.8 billion VND.

In addition, from January 1, 2026, the regional minimum wage will increase by 7.2%, which is also a higher increase than in recent years (around 6%). Furthermore, it will be issued relatively early (early November 2025), giving businesses time to prepare and proactively balance costs, while allowing workers to anticipate the improvement in their income, thereby stabilizing their morale and planning their spending.

Overall, this year's salary and bonus landscape has many positive aspects. However, in the context of a fiercely competitive labor market, especially in large cities, the core issue is whether these increases are sufficient to retain workers. In reality, each minimum wage adjustment carries significant expectations from workers, particularly those in the unskilled and low-income sectors. With the cost of living and housing constantly rising, wages become the most important factor influencing workers' decisions to stay with their current jobs or change employment.

A survey of the 2026 labor market by a leading recruitment service provider in Vietnam revealed that unsatisfactory income remains the primary reason for employees considering leaving their jobs, alongside opportunities for learning and development. This reflects a clear trend: employees are not only concerned with immediate income but are increasingly focusing on long-term career prospects, work environment, and stability.

Businesses also face considerable pressure. Raising wages means increasing production costs, while labor productivity and competitiveness in many industries and sectors remain limited. This shows that retaining employees requires a more holistic approach. Income needs to be linked to productivity, accompanied by improved working conditions, expanded training opportunities, and a clear career development path for employees.

In Ho Chi Minh City, solutions to stabilize labor relations have been implemented quite comprehensively, from monitoring the implementation of wages, bonuses, and social insurance, to promoting workplace dialogue and promptly handling labor disputes. This shows that the city has clearly assessed the role of wage policy in maintaining labor market stability, especially during the Tet holiday and the recovery and acceleration phase of the economy .

Overall, there remains a significant gap in income and working conditions between different business sectors and labor groups. Without appropriate monitoring and support mechanisms, the risk of labor migration from low-income sectors to those with better conditions will continue to increase, disrupting the post-Tet labor market. Salaries and bonuses are key indicators of the relationship between businesses and employees. When income is clear and stable, employees feel secure and committed, thus contributing to a more stable post-Tet labor market.

NGO BINH

Source: https://www.sggp.org.vn/phep-thu-giu-chan-nguoi-lao-dong-post837980.html