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