Therefore, the adjustment to increase regional minimum wages, as proposed by delegate Thai Thu Xuong, Permanent Vice President of the Vietnam General Confederation of Labor, at the discussion session on the socio-economic development plan at the National Assembly on June 18, is effectively a timely listening and an act of direct investment in the workforce.
In reality, the cost of living has fluctuated a lot, while the regional minimum wage has not kept up.
Many workers in industrial parks across the country have been having to balance their monthly spending very carefully, curbing small needs to prioritize essential items.
Despite always working hard and saving, basic income still makes their lives difficult and worrying.
In that context, adjusting the regional minimum wage is a practical sharing with millions of workers who are contributing to the development of the country day by day.
When supported at the right time, workers will have more confidence and motivation, thereby better promoting their abilities in work as well as their attachment to the enterprise.
From the perspective of businesses, increasing the minimum wage also creates positive effects. This is an opportunity to review salary policies, improve the working environment and build a corporate culture with people at the center.
A systematic human resource policy, associated with a clear salary increase roadmap, will help businesses retain skilled workers, creating a long-term competitive advantage.
More importantly, when income is improved, workers can feel secure in consuming, especially essential goods. From there, domestic purchasing power is stimulated, contributing to helping businesses recover production, spreading stability to the entire economy.
It is also important to emphasize that the minimum wage not only affects current income, but also affects many other social security policies such as social insurance, maternity benefits, illnesses, etc.
Adjusting this salary level appropriately is a way to make the system of labor protection policies operate more effectively and fairly.
We believe that the National Wage Council will have responsible and objective exchanges to propose appropriate and harmonious adjustment plans between the payment capacity of enterprises and the practical needs of workers.
A decision to increase wages at the right time not only helps workers ease their current difficulties, but also helps them dare to think further for the future.
When workers can live stably on their salary, it is also the time when confidence is aroused, motivation is restored, and positive energy spreads throughout the workplace.
And that is a solid foundation for both workers and businesses to accompany each other to overcome challenges and build a more sustainable economic development.
