HCM CITY — Trade unions in HCM City are offering their labourers Tết bonuses, gifts, year-end parties and tickets for buses and trains for the upcoming Lunar New Year (Tết) holiday.

At the Saigon 3 Garment Joint Stock Company, workers are busy this season but they are happy about working there.

In October the company announced that employees would receive a Tết bonus equal to three months of salary.

Phạm Văn Có, chairman of the Saigon 3 Garment Joint Stock Company’s trade union, said the company’s board of directors and trade union were determined to please their workers during Tết.

“Their hard work throughout the year contributed to our business performance, so they deserve to receive a reward,” he said.

Besides the Tết bonus, the company is offering a number of programmes totalling VNĐ3 billion (US$128,000), including a year-end party, a fruit decoration contest, a music performance, gift vouchers, Tết gifts, free tickets for buses and trains, and a lucky draw.

Đỗ Thị Lan, a worker at the company, said that she would use a part of this year’s Tết bonus to buy a new motorbike for her husband.

Lê Phước An, deputy chairman of the country’s leading food producer Vissan Joint Stock Company’s trade union, said the company would offer each employee an additional month’s salary and additional bonus between VNĐ7-10 million ($300-430) for his/her business performance.

“This year, more than 4,000 employees of the company will enjoy big Tết bonuses,” he said.

The company has also given each employee a gift voucher worth VNĐ500,000 ($21.5) which can be used to buy the company’s products

In the first days of the New Year, the company’s board of directors give lì xì (lucky money) of VNĐ1-2 million ($43-86) each to all workers.

Meanwhile, the Pou Yuen Việt Nam Co., Ltd in Bình Tân District will spend nearly VNĐ1 trillion ($43 million) for bonuses for its 66,000 labourers, the chairman of the company’s trade union, Củ Phát Nghiệp, said.

Depending on their efficiency and years at work, the company will give Tết bonuses equal to at least one month of salary, with the highest bonus 2.2 months of salary.

The company has also given free bus tickets and 500 gifts for workers in difficult circumstances, among many other Tết activities.

The upcoming Year of the Pig will begin on February 5. The Government has approved a nine-day break for the holiday from February 2 to February 10.

Sharing the benefits

Many enterprises in the city have decided to pay higher Tết bonuses to motivate their employees.

The No 7 Printing Joint Stock Company’s trade union chairman, Trương Hoàng Tâm, said: “Each employee’s working attitude and responsibility plays a role in improving productivity and product quality, which are the determining factors in the success or failure of the company.”

Thanks to the contributions of all employees, the enterprise has achieved its targets set for 2018 one month ahead of schedule.

As of the end of November, the company’s total revenue was VNĐ295 billion ($12.7 million), exceeding the plan’s estimates by about 120 per cent. Its profit reached VNĐ27 billion ($1,16 million), exceeding the plan by 117 per cent.

“The enterprise will pay Tết bonuses equal to three months of salaries and organise many Tết programmes,” Tâm said.

Thân Ngọc Nghĩa, director of Chợ Lớn Investment and Import Export JS Company’s (Cholimex) planning and investment, said the company had achieved targets for 2018 two months ahead of  schedule.

“The company has decided to pay a Tết bonus equal to two months’ salary and give other Tết gifts tor each worker,” he said.

In addition, the company’s workers in difficult circumstances will be presented VNĐ2 million ($86) in cash each, he said.

Bonus plans

Meanwhile only three provinces have disclosed their holiday bonus for labourers in the upcoming Lunar New Year, with the payouts staying the same as the last year, the Ministry of Labour, Invalids and Social Affairs’ Department of Industrial Relations and Wage has said.

Tống Văn Lai, deputy head of the department said to Lao Động (Labour) newspaper on Monday only Bắc Ninh, Khánh Hoà and Cà Mau had reported its Tết bonus plan.

The localities with crowded and busy labour markets had not announced their plans to the department. Most said they were on the process of collecting information from enterprises to get the final report.

The department was still waiting for the reports to get the statistics on Tết payouts for labourers this year, he said.

Lai said the department had conducted a survey on about 2,000 enterprises nation-wide. It showed the Tết bonus of the lunar Year of the Pig would be likely to be the same as the previous year.

Among the three provinces that reported on its Tết bonus plans, the payouts were still the same as the previous year, ranging from a meager VNĐ100,000 (US$4.1) to a staggering VNĐ800 million ($34,400).

The highest level was paid by a foreign direct investment enterprise. The average bonus was about VNĐ1 million ($43).

Lai said the socio-economic situation this year was relatively stable, so the Tết bonus would not be likely to have drastic changes.

Employee rewards

According to the latest report from VietnamWorks under the Navigos Group, 64 per cent of employers are rewarding employees with Tết bonuses exceeding the value of one’s monthly salary next year.

Nearly 500 human resources professionals and 3,400 jobseekers participated in the survey. 

The survey found that only 37 per cent of employers published information about Tết bonuses.

More than a quarter of employees said they would quit if their Tết bonuses ere not up to expectation.

The survey also showed that benefit packages were a decisive factor for job applicants.

Jobseekers are currently dissatisfied with their benefit packages. Eighty-nine per cent of them would “react” if they do not receive satisfactory benefits in the future.

More than half of employers have plans to enhance employee benefits next year.

Gaku Echizenya, CEO of Navigos Group, said job-seekers’ priorities have changed, more specifically to healthcare, professional support and training.

For employers, conducting regular internal surveys is helpful to understand the benefits valued by their employees.

“People working in different industries have varying needs and expectations about benefits and bonuses, so this is an opportunity for employers to be flexible in creating customized packages that best satisfy and motivate their people,” he said. — VNS