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Up to 82 percent of Vietnamese companies plan salary raises for 2025: survey

Up to 82 percent of Vietnamese companies plan salary raises for 2025: survey

Thursday, November 28, 2024, 11:38 GMT+7
Up to 82 percent of Vietnamese companies plan salary raises for 2025: survey
Seventy-three percent of employees expressed optimism about their career prospects, according to the Salary Survey for 2025. Photo: Cong Trieu / Tuoi Tre

Up to 82 percent of the 84 enterprises surveyed by recruitment consultancy Robert Walters said they plan to offer salary increases to employees next year.

Besides the 84 firms, the Salary Survey for 2025 released on Wednesday involved hundreds of Vietnamese laborers in various positions and sectors.

The survey sheds light on the key trends shaping employer strategies in Vietnam’s evolving job market. 

Besides salary rises, employers are focusing on improving their talent attraction strategies through competitive bonus schemes and robust employee training and development programs. 

These initiatives not only serve to draw in new candidates but also build a skilled, engaged, and loyal workforce.

The survey revealed that 73 percent of these employees expressed optimism about their career prospects, reflecting a growing confidence in the availability of opportunities.

Salary and benefits remain the most critical drivers of employee satisfaction with 46 percent of the respondents placing high importance on competitive compensation packages and 77 percent emphasizing the significance of bonus schemes in determining their job satisfaction.

The survey also disclosed that employees increasingly value intangible values of workplace culture, with inspiring colleagues and a supportive work environment emerging as crucial motivators for half of the workforce surveyed.

Moreover, opportunities for personal and professional growth, such as training programs, flexible working hours, and extended health insurance schemes, are increasingly being considered as indispensable components of attractive employment policies.

Many employers in Vietnam plan salary rises for 2025. Photo: Cong Trieu / Tuoi Tre

Many employers in Vietnam plan salary rises for 2025. Photo: Cong Trieu / Tuoi Tre

The survey also highlighted a strong preference among employees for foreign employers, with a staggering 98 percent expressing interest in working for international companies. The key reasons cited for this were higher salaries, structured career development paths, and opportunities to work in a professional environment which meets international standards.

With increasing competition and employees’ changing priorities, companies in Vietnam are proactively adjusting their approaches to attract and retain top talent.

Attracting talent is just one piece of the puzzle, retaining that talent presents a persistent challenge. 

According to the Robert Walters survey, 59 percent of the employers polled admitted to being challenged by competition in talent recruitment and salary offerings.

A promising approach is hiring candidates based on their potential rather than on existing expertise.

By focusing on long-term talent nurturing, companies can foster a workforce that grows and evolves alongside the organization. 

In the meantime, firms are concentrating their efforts on adjusting benefit packages and workplace policies to meet employee expectations and create mutually beneficial work environments. 

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Thanh Ha - Cong Trieu / Tuoi Tre News

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