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Two-thirds of employers believe benefits affect engagement

Released at: 18:15, 05/01/2018

Two-thirds of employers believe benefits affect engagement

Illustrative image from news.zing.vn

Navigos Search releases survey and report on benefits and Tet annual bonuses in 2017.

by Hai Van

A Navigos Search survey and report on benefits and Tet annual bonuses in 2017 found that 64.3 per cent of employers believe that good benefits affect employee engagement.

On the employees’ side, 62.5 per cent of respondents expressed the same opinion. Twenty-eight per cent of enterprises said that good benefits motivate employees to contribute to the company, with 31.2 per cent of employees agreeing.

Employers and employees in IT, Operations / Assistance, Accountancy, and Customer Service have similar opinions about the Top 5 most important benefits, which include attractive salaries, attractive bonuses, and annual promotions.

There are, however, differences in opinion about the Top 5 most important benefits between each sector. Sectors in creative field such as Advertising / Communications and Architecture / Interior Design tend to prioritize “Training Courses” in the Top 5, while Manufacturing selected “Company Trips” and Sales had “Periodic Health Checks”.

Employees have not been offered the Top 5 benefits they anticipated, however, especially annual promotions, while annual leave and insurance had a higher priority than they anticipated.

The report also noted that one-quarter of employees expressed “low satisfaction” with existing benefits, with 90 per cent of these saying they will seek a new job with better benefits within the next six months. Fifty per cent said their existing benefits are “normal”, with 76.7 per cent of these also looking for new job opportunities. Only 32 per cent of respondent said they have “high satisfaction” with their existing benefits, but some 60 per cent are planning to find a new job.

Notably, both employers and employees listed the Top 3 reasons for basing annual Tet bonuses as being company profit, their own performance, and simply a 13th month of salary. Employees, however, have not been offered a Tet bonus that meets their expectations.

Eighty per cent of employers still offer an annual Tet bonus regardless of profitability, 36 per cent said a Tet bonus will be provided as usual, and 44 per cent said the bonus will be cut compared to previous years.

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