Many businesses announce Tet bonuses
Mr. Pham Quang Anh - General Director of Dony Garment Company - said that at this time, workers are working overtime until more than 8 pm every day to meet the delivery schedule for partners, serving the year-end holiday season in Western countries. Therefore, the working atmosphere of the company's sewing teams is as hurried as if both people and machines are racing to the end of the year.
Abundant orders have made workers' income stable, ranging from 15 million VND/month. According to Mr. Pham Quang Anh, the company currently has orders until the end of the first quarter of 2025. This year, business performance is good, the company is profitable and is expecting to achieve the target of one and a half times that of last year.
“We have planned to give Tet bonuses since the beginning of 2024. As every year, workers will receive a one-month salary bonus. Those who perform well can receive up to 2-3 months salary during Tet this year. Workers will also have up to 2 weeks off to return home to reunite with their families,” said CEO Dony.
Song Hong Garment Joint Stock Company (Nam Dinh) has also announced the 2025 Lunar New Year bonus policy for more than 12,000 employees, with an average of 2 months' salary and bonuses based on job position. The bonus based on job position is being implemented again after being cut last year, expected to retain employees at the end of the year.
Ms. Dao Thi Lan Anh - Director of Human Resources Administration, Dong A Paint Joint Stock Company said that this year the company plans to pay the same Tet bonus as last year (13th month salary) and a Tet gift worth 1,000,000 VND/person. Employees with 10 years or more of seniority will receive an additional 1 tael of gold. Employees in difficult circumstances will receive an additional 500,000 VND and support for bus tickets to return home for Tet.
Mr. Vu Thanh Tung - Senior Manager of the Human Resources Administration Department of Sanwa Vietnam Manufacturing Co., Ltd. - said: "Currently, the factory is still lit up, everyone is trying to increase production capacity to ship millions of auto parts in this peak month in order to ship to Japan in time. Our revenue this year is expected to increase by over 10% compared to the same period; Tet bonuses for workers are still guaranteed, fluctuating around 1 month of income and no workers have been cut or stopped working."
Meanwhile, according to Ms. Nguyen Thi Diem Hang - Vice Chairwoman of Vinapharma Group's Board of Directors, during the Lunar New Year, they will try to provide employees with a month's salary and an additional half-month's salary bonus for workers far from home so that they can cover expenses in the new year.
Should Tet bonus be a "fixed" amount?
Commenting on the issue of Tet bonuses, Mr. Nguyen Quoc Viet - Deputy Director of the Vietnam Institute for Economic and Policy Research (VEPR) - said that the latest data shows that the average income per capita in 2024 is expected to increase by about 8% compared to last year, equivalent to the threshold of 7.6 - 8 million VND per month.
“The figures show that businesses are doing well, hopefully they will have good salary funds and year-end bonuses for employees. However, there will still be a number of businesses facing difficulties. This does not create motivation to stimulate work for employees,” Mr. Viet acknowledged.
According to Mr. Viet, in principle, only profitable businesses will allocate funds to take care of employees, including Tet bonuses. If the production and business plan is not achieved, of course, it will be calculated carefully.
However, Mr. Viet believes that, in a broader perspective, if we want to stabilize the labor market and move towards sustainable development, it is very important that employees stay with the business for a long time. In particular, the Tet bonus policy is one of the decisive factors in retaining them. Perhaps we need to have a plan to make the Tet bonus a "hard" regulation.
In addition, it is also necessary to review the way of business management. The culture of Tet bonuses needs to change in the direction of linking the interests of the business with the individual employee, thereby activating labor productivity in each person.
