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Tet Festival Bonuses offered by Enterprises Reportedly Increase

According to statistical figures by Department of Labor, War Invalids and Social Affairs, despite economic recession causes a wide range of difficulties for production and business, bonuses for Tet in enterprises may get slightly increased.

HTML clipboard     In order to stabilize the workforces, this year firms across the province have planned and publicized their bonuses for Tet quite early. The average bonus may be VND2.2 million, the highest bonus is VND140 million and VND1 billion at least. Highest bonus range is offered in state-owned enterprises with VND3.2 million, topped by VND20 million; non state-owned businesses remain the VND1.4 million bonus, VND15 million at the highest, and VND1 million at bottom-line, however, they seem to be higher than those of last year.

Increased bonuses mean a solution to keep labor during this labor shortage time

    The reason accounting for this rise is that the basic wage adjustments have been promulgated by PM. The firms offer bonuses in equivalence with the thirteenth monthly wage based on rate of price fall. Moreover in the current situation of shortage of labor sources, especially after Tet Holiday, bonus policy may act as a feasible solution to keeping their workforce, preventing instabilities and stabilizing production.

    Also as stated in the figures, labor monthly wages in the province after 2010 will rise in conformity with basic wage rise regulated by Decree No. 97 and 98 of Government are VND2.8 million, VND3.2 million for employees in state-owned enterprises, and VND1.7 million for non state-owned and privatized enterprises.

L.H (T.L)

Author: phongvien

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