This year, the general economic difficulties and the unfavorable business situation have made Tet bonuses a great pressure for many businesses. However, in order for employees to enjoy Tet, many businesses have had to make great efforts, even struggle and save to be able to have Tet bonuses.
2023 is a year with many challenges for all businesses: lack of orders, poor liquidity, sluggish exports... According to many statistics, the consequences connected to the world began to impact from the first quarter of 2023 through a serious decline in export orders. At peak times, some businesses reduced orders by 50 - 70%, and on average, depending on the time, the decline was between 35 - 40%. Therefore, businesses were forced to cut jobs, especially in the auxiliary processing sectors. According to SSI Research data, in the third quarter of 2023, the total profit after tax of listed enterprises decreased by 5% compared to the same period after continuously recording a sharp double-digit decline in the previous 3 quarters. In the first 9 months of 2023, the total profit of enterprises decreased by 15.8% compared to the same period last year.
Although the business situation in the fourth quarter of 2023 showed signs of improvement, the business results in October and November of most businesses were still not as positive as expected. A business leader once exclaimed: 2023 is a difficult year, even more difficult than the years of the complicated COVID-19 pandemic, because in the pandemic years, businesses temporarily stagnated and did not "run out" of money like this year.
The Lunar New Year of Giap Thin 2024 is approaching. In the context of economic difficulties and a lack of production orders for businesses, receiving Tet bonuses is a great effort for many businesses. Illustration photo: Hong Dat/VNA
Difficulties pile up on difficulties, so Tet bonuses for many business leaders have become a concern that is difficult to hide. According to Mr. Nguyen Van Lam - Deputy Director of the Department of Labor, War Invalids and Social Affairs of Ho Chi Minh City, out of 1,078 businesses submitting reports on Tet bonus plans for 2023, 386 businesses (accounting for 35%) reported having difficulties in giving Tet bonuses to employees.
Facing difficulties, hesitating, considering... but according to Mr. Hoang Quang Phong - Vice President of the Vietnam Federation of Commerce and Industry (VCCI), through preliminary understanding, from very early on, most businesses have had plans to give Tet bonuses to employees. According to Mr. Ngo Duy Hieu, although Tet bonuses are not a mandatory regulation in the Labor Code, but for employees, every Tet holiday, they look forward to this bonus. Because Tet bonuses, in addition to material value, are also a great spiritual encouragement for employees. Therefore, for businesses with high social responsibility, Tet bonuses are always considered a way to retain employees and increase productivity, even in the current difficult business context, everyone must be frugal and try hard. As shared by Ms. Pham Thi Hong Ha - President of the Trade Union of Saigon Food Joint Stock Company: "At the end of the year, the company also faced many difficulties but still ensured work as well as policies and activities to care for employees; Announce Tet bonus soon so that workers can work with peace of mind.
According to Mr. Nguyen Van Lam: “Compared to last year, this year, due to many difficulties in production and business activities, orders decreased, businesses had to scale down operations, and it was difficult to collect debts... affecting the business results of the whole year and the plan to give Tet bonuses to employees. However, businesses still tried to give Tet bonuses according to the bonus regulations, collective labor agreements, and labor contracts. In addition, 447 businesses (accounting for 41%), in addition to Tet bonuses, also had many practical forms of support for employees during the Lunar New Year such as giving Tet gifts, shopping vouchers, lucky money, organizing shuttle buses (or supporting travel expenses, giving bus tickets). In addition, during Tet, some businesses have plans to organize year-end parties and plans to visit employees in difficult circumstances, organize Tet celebrations for employees who have not been able to return to their hometowns...” - Mr. Nguyen Van Lam added.
Despite many difficulties, businesses in industrial parks still maintain good salary and Tet bonus regimes for workers. Illustrative photo: Duong Chi Tuong/VNA
Sharing with the press, a worker - Ms. Le Thi Tam (38 years old) said that she is from Tuyen Quang but has been living and working in Ho Chi Minh City for 10 years. Far from home and missing her family, Ms. Tam intended to return home to celebrate the Lunar New Year of Giap Thin from the beginning of this year. However, according to her, whether she can return home to celebrate the Lunar New Year 2024 or not depends on the financial situation at the end of the year. If she is paid the remaining salary as well as a "decent" Tet bonus, she can feel secure in returning home.
Ms. Nguyen Thi Thao, from Thanh Hoa, rented a house in Hanoi and worked as a worker in the production of auto parts in the Thang Long Industrial Park. At the end of the year, the couple still worked for the company and looked forward to the Tet bonus. “Working for the company gives me a stable income to cover my living expenses. It only happens once a year, so I hope to get a high Tet bonus. Although there is no information yet, I still hope to get a bonus so that the workers can go home and celebrate Tet happily,” Ms. Thao shared.
The sharing of Ms. Tam and Ms. Thao is also the concern of many poor workers. After a year of hard work, salary and Tet bonus are always what workers look forward to. The more difficult it is, the more workers look forward to Tet bonuses. Therefore, despite the difficulties on all sides, the efforts of enterprises to have more Tet bonuses for workers, so that everyone can have a warm and happy Tet, even though the law does not stipulate or require it, can be considered a respectable and commendable cultural feature that demonstrates the responsibility and conscience of enterprises towards workers.
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