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New year bonuses excite laborers

On the occasion of Lunar New Year 2016, the bonuses of enterprises are higher than previous years. Many enterprises have come up with active resolutions to increase new year bonuses for laborers, expressing concerns to laborers after a year of hard work.​


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Workers of Changshin Vietnam Co., Ltd are working expeditiously on the last days of the year. Photo by: Cong Nghia

 

According to the statistics of the Department of Labor, War Invalids and Social Welfare, the averaged new year bonuses of enterprises have increased, showing the highest rate of bonuses recorded from foreign direct investment (FDI) sector, the second highest from State-owned enterprises and then the private sector.
 
*Increase in New Year bonuses
 
 This year, all employees and workers of Changshin Vietnam Co., Ltd (Thanh Phu commune, Vinh Cuu district) got excited about the high increase in New Year bonuses. Mrs. Vu Thi Ty who has been working for the company for 9 years said that this year she got 13th month pay and a half with the total bonus of over 10 million dong, which was enough for her family to have a much more comfortable Tet holiday than previous years.
Mr. Dang Tuan Tu, Chairman of Labor Union of Changshin Vietnam Co., Ltd. said the company had prepared a scale of New Year bonus, which was mainly based on seniority. The increase in bonuses may not be high, ranging from 1 – 1.5 month payment, but the actual value increased significantly since the basic salary increases 12-15%/year. Moreover, the company flexibly applied the minimum salary of 2016, which brought more benefits to its laborers.
 
An HR official of a livestock feed manufacturing company at Long Binh Industrial zone (Bien Hoa city) shared that the company offered the highest bonus of 400 million dong to the general director. This is also the company’s highest bonus compared with other the enterprises in the province. Meanwhile, other managerial officials only received 2 – 3 month payment (depending on each particular position) and most of the workers also received 1.5-2 month payment (equivalent to over 10 million/worker). The official also shared that the new year bonuses were mainly based on positions, abilities and actual working time of employees throughout the year, which means the fluctuations in bonuses were inevitable.
 
*Creating favorable conditions for workers to receive salary and bonuses
 
According to Vice Chairman of the provincial Labor Federation Tang Quoc Lap, most of the enterprises have plans for salary payment and new year bonuses. It is expected that in early February of 2016, all enterprises simultaneously will make payment of new year bonuses and flexibly make payment of January salary prior to the actual payment date. This is also the first month that enterprises have applied Decree 122 of the Government on stipulating the regional minimum salary in 2016, which has been 400 thousand dong/month higher than than 2015. Therefore, workers of enterprises will receive salary payment and bonuses at the same time.
 
Ms. Tran Dang Quynh Chau, HR official of Advance Multitech Co., Tld (Nhon Trach Industrial Zone 3) said that in order to create favorable conditions for more than 2 thousand workers of the company, many of whom come from other provinces, to receive salary and bonuses, it is expected that the company will make payment of bonuses and give new year presents to its workers on February 6. And the salary of January 2016 will be made on the same day as bonuses instead of on the 10th of every month, so that the workers will have money to go shopping for the holiday or return home early. Ms. Chau eagerly added: “The averaged new year bonus of an employee of the company is 2 month payment, which is over 10 million dong, whereas the lowest bonus is 1 month payment, which is equivalent to 5 million dong”.

Chairman of Labor Union of Dong Nai rubber Corporation Le Huu Phuoc said that although the price of latex in the world market has been decreased, the corporation did not reduce any benefit of workers. The worker shall receive new year bonus to go shopping for the holiday. In order to boost the morale of the workers on rubber plantations, the company shall spend 6 billion buying food including: pork, rice and cooking oil… for workers to make sure that 100% workers of the sector have a comfortable holiday.
Cong Nghia

 

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