Lien Viet Post Joint Stock Commercial Bank (LPBank), with Mr. Nguyen Duc Thuy (Thuy) as Chairman of the Board of Directors, has just issued a resolution on employees' paid leave on their birthdays.
Accordingly, employees are entitled to 1 day off with full pay on their birthday every year. This day off is not counted as vacation/leave, and is enjoyed according to bank regulations. In case the birthday coincides with a weekly day off, holiday, or Tet holiday, they are entitled to 1 day off in lieu on the previous or following working day.
Not only do LPBank employees get paid time off, they also get a cash bonus on their birthday.
This is believed to be the first time a bank has made such a decision. This is also rare among foreign-invested enterprises (FDI) in Vietnam.
As of December 31, 2022, the total number of employees working at LPBank is 12,203, an increase of 1,554 compared to 2021 and an increase of 50% (4,086 people) in the last 5 years since 2018. This means that every year this bank has to "sacrifice" tens of thousands of working days just to increase employee benefits.
At the annual general meeting of shareholders held in April 2023, Mr. Thuy said that, in addition to prioritizing sustainable development for the bank and ensuring the rights of shareholders, he will also focus on increasing the remuneration for bank employees.
For the first time in 15 years since its establishment, LPBank has decided to give bonuses to all employees on the occasion of April 30 and May 1. Accordingly, each employee will receive a bonus of 5 million VND, equivalent to about 60 billion VND spent by the bank.
According to LPBank's first and second quarter financial reports, the average employee income was VND 21 million/month in the first half of this year, an increase of VND 4.5 million/person/month compared to the same period in 2022. Although this income level increased sharply compared to the same period, it is only at an average level compared to the industry's income.
VietNamNet's survey of 28 commercial banks that announced their second quarter financial reports showed that LPBank's average employee income ranked 17th among these banks.
In what cases can employees take a leave of absence and still receive their full salary? According to the provisions of the 2019 Labor Code, employees are entitled to take leave in 03 cases while still receiving full salary as follows: - Holidays: As stipulated in Clause 1, Article 112 of the 2019 Labor Code, each year employees have a total of 11 holidays that they are entitled to take off work with full pay, specifically as follows: New Year's Day (01 day), Lunar New Year (05 days), April 30 Victory Day (01 day), International Labor Day (01 day), National Day (02 days), Hung King's Commemoration Day (01 day). - Annual leave: According to Article 113 of the 2019 Labor Code, employees who have worked for 12 months for an employer are entitled to annual leave with full salary according to the labor contract as follows: + 12 working days for employees working under normal conditions; + 14 working days for underage workers, disabled workers, workers in arduous, toxic, or dangerous jobs; + 16 working days for people doing heavy, toxic, or dangerous jobs. In addition, for every 5 years of working for an employer, the employee's annual leave is increased by 1 day. - Personal leave: According to Clause 1, Article 115 of the 2019 Labor Code, employees are entitled to personal leave with full pay in the following cases: + In case of marriage, 3 days off; + In case of biological or adopted children getting married, they are given 1 day off; + In case of death of biological father, biological mother, adoptive father, adoptive mother; biological father, biological mother, adoptive father, adoptive mother of wife or husband; wife or husband, biological child, adopted child, 3 days off are given. In addition, employees are entitled to 1 day off without pay when their paternal grandmother, paternal grandfather, maternal grandfather, paternal grandmother, brother, sister, or sibling dies; a sibling gets married; or their father or mother gets married. |
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