Around one-fourth of workers participating in a survey conducted by executive recruitment service provider Navigos Search said they would quit their jobs if they receive no bonuses for the upcoming Lunar New Year holiday, or Tet.

More than 1,800 employees and 400 human resources experts from enterprises joined the survey on welfare and Tet bonuses in 2017. Most of them preferred Tet bonuses to be decided based on the business performance of their enterprises or individual performance or one month’s pay. However, most of the workers surveyed are not satisfied with their Tet bonuses.

The survey shows that Tet bonuses affect significantly the loyalty of employees to their employers. In addition to giving up their jobs, 40% of respondents said they would propose employers offer reasonable bonuses while 13.7% would not object to corporate policies despite their disappointment as they find it hard to look for new jobs. Only 6.9% of respondents said they pay little or no attention to Tet bonuses as their incomes are enough for their daily expenses.

Employers are also aware of the importance of giving bonuses to retain their staff, so 80% of enterprises surveyed said they would pay bonuses irrespective of their business results. Tet bonuses at 36% of the firms surveyed could be kept unchanged from previous years while 44% said they would lower bonuses.

Besides, 64.3% of corporate respondents and 62.5% of workers agreed that welfare is important to retain talent. Meanwhile, 28% of employers and 31.2% of workers thought welfare is a motivation for employees to contribute more to their companies.

The survey also showed the more enterprises care about workers’ welfare, the more they will improve their policies as 38% of enterprises said their welfare is good or very good and 86% of them have plans to improve their welfare in the first half of the year. Meanwhile, 10.6% and 1.8% said their welfare is not good and extremely bad respectively but they have no plans to change.

SGT