Tet bonuses can amount to several months' salary for employees of Vietnamese businesses, surprising many foreigners.
Thomas Clarke noticed that his Vietnamese colleagues often bought new motorbikes or expensive furniture when they received their Tet bonuses.
The British man who has been in Vietnam for more than 5 years considers this an interesting cultural feature. "I don't know the number but maybe it's big enough and worth looking forward to," said Thomas, 29, living in Thao Dien ward, Thu Duc city, Ho Chi Minh city.
He works at an English center with about 80 teachers. Foreign teachers receive higher salaries than Vietnamese teachers, plus housing allowances. However, they do not receive the same Tet bonus as Vietnamese teachers.
When he worked in his hometown of Nottingham, Thomas often received a bonus at Christmas or at the end of the year, equal to 10-15% of his monthly salary. This bonus is not available at all companies, the amount depends on the profit situation during the year. Some companies only give their employees gift cards (cards, vouchers to exchange for gifts).
But in Vietnam, Thomas found that Tet bonuses are common, often worth a month or more of salary. Many companies are more generous, including valuable gifts. His Vietnamese colleagues often use the money to give to their families or buy important items.
"The Tet bonus reflects their hard work and work efficiency throughout the year and helps to limit early resignations," Thomas commented. A friend of his added that this bonus helps workers to spend expensive holidays and take care of their families.
As a foreign employee working for a Vietnamese company, construction engineer Jan Jansen also received a Tet bonus. This large amount of money surprised him.
In the Netherlands, it is common for former employers to give small, non-monetary gifts, such as lunch boxes and cards, at Christmas. "The reward culture is very different from country to country," said the 53-year-old.
At first, he felt that the Tet bonus was like a deferred salary. In Europe, bonuses are considered an additional reward for employees with good performance and also the overall success of the company.
"That means they only get it when they do better than expected," Jan said. He guessed that Tet bonuses in Vietnam would be listed in the contract, and receiving them would be normal. At the same time, Jan realized that all employees received bonuses, from managers to cleaning staff, drivers or security guards.
"It reflects the fact that Vietnamese companies really respect their employees regardless of their position," he said.
After Covid-19, some companies were in a financial slump and were forced to cut their Tet bonuses. But when the economy recovered last year, Jan was surprised to see them compensate workers with two to three months' salary. "I was impressed and thought it was worth it," he said. "This could be one of the reasons why Vietnamese people work harder than us Europeans."
That is also the motivation for Jan to stay in Vietnam for a long time. He is part of the growing flow of international workers choosing to work in Vietnam. A survey by the Navigos human resources group shows that Vietnam is the place with the most international workers wanting to work in Southeast Asia at 30%, followed by Singapore at 24% and Thailand at 17%.
Conor Kelly, 28, was explained about the Tet bonus by his friends when he moved from the UK to Ho Chi Minh City. He understood that Tet is as important to Vietnamese people as Christmas is to Westerners or Thanksgiving is to Americans.
During this time, people will return to their hometowns but often buy gifts and give lucky money, so there are more expenses. He feels the hard work and effort of Vietnamese people all year to receive the most valuable amount of money at the end of the year. "It is both motivation and an exciting and nervous wait," Conor said.
However, Conor is also concerned about subjectivity, as Tet bonuses often depend on the boss's level of satisfaction with the employee.
Like Jan, when he became the director of an architectural firm, he realized many shortcomings. For example, Tet bonuses can cause sensitive comparisons between employees. Some companies have employees who quit right after receiving the bonus. In addition, Tet bonuses also depend a lot on the number of years of service of the employee.
He received a pre-established employee bonus scheme from the company. After several years as a manager, Jan accepted the fact that staff turnover was always changing after each benefit adjustment.
"However, if you have a good enough working environment, you won't have to worry about employees suddenly leaving," he said.
The Tet bonus at his company is always based on performance figures and is enough to motivate employees every day. "They spend half a day in the office, even more than they spend with their families, so they need to be compensated properly," Jan said. "This compensation will make the difference between a successful company and a company that just exists for a long time."
TB (according to VnExpress)