Many businesses in Vietnam have increased wages and allowances to easedifficulties for their employees in the context of escalating prices andinflation.
A 2011 Vietnam remuneration survey by theUS-based Mercer Company through its representative in Vietnam,TalentNet, shows that inflation has affected salary policies of 75percent of 329 domestic and foreign enterprises interviewed in thesurvey.
This year’s average pay increase inmultinational groups and wholly foreign invested companies is 13.3percent, compared with 12.5 percent last year, while Vietnamesecompanies saw a 19 percent rise.
Several yearsago, to attract qualified human resources, foreign businesses increasedsalaries in line with the inflation rate. However, this year’s averagepay increase is 6.7 percent lower than the expected inflation rate,since businesses are directly suffering from difficulties in bothdomestic and world economies.
In addition to payincreases, enterprises have also provided their employees with someallowances such as expenses for lunch, travel and work clothing.
The survey also says that the pharmaceutical sector saw the highestpay increase of 14.1 percent this year. It was followed by the banking,oil and gas and high-tech sectors, with rises ranging from 12.5 percentto 14 percent.
Unskilled workers, who are the most vulnerable to inflation, enjoyed the highest pay rise of 14.1 percent.
Mercer is a major provider of consulting, outsourcing and investment services./.
A 2011 Vietnam remuneration survey by theUS-based Mercer Company through its representative in Vietnam,TalentNet, shows that inflation has affected salary policies of 75percent of 329 domestic and foreign enterprises interviewed in thesurvey.
This year’s average pay increase inmultinational groups and wholly foreign invested companies is 13.3percent, compared with 12.5 percent last year, while Vietnamesecompanies saw a 19 percent rise.
Several yearsago, to attract qualified human resources, foreign businesses increasedsalaries in line with the inflation rate. However, this year’s averagepay increase is 6.7 percent lower than the expected inflation rate,since businesses are directly suffering from difficulties in bothdomestic and world economies.
In addition to payincreases, enterprises have also provided their employees with someallowances such as expenses for lunch, travel and work clothing.
The survey also says that the pharmaceutical sector saw the highestpay increase of 14.1 percent this year. It was followed by the banking,oil and gas and high-tech sectors, with rises ranging from 12.5 percentto 14 percent.
Unskilled workers, who are the most vulnerable to inflation, enjoyed the highest pay rise of 14.1 percent.
Mercer is a major provider of consulting, outsourcing and investment services./.
