Navigos Group, the leading Human Resources service provider in Vietnam, commenced work on the 2008 Vietnam Salary Survey on April 14 2008 to offer clients the latest compensation update on the country’s rapidly evolving labor.
Within the inclusion of 17 new job categories, the survey now covers almost every job group in the labor group in the labor market, a total of 75 in all.
The information will make the final report more comprehensive help companies analyze and compare gross salaries, net salaries, bonuses, and other criteria, for hundreds of different positions. It will help answer critical questions regarding remuneration and provide data to measure a company’s competitiveness in the labor market.
The final survey report will be released in third quarter reviews and adjustments occur – and presented in bilingual version which improves accessibility for both English and non-English readers.
According to Ms Winnie Lam, the Human Resource Advisory Services Director of Navigos Group, the average staff turnover rate was reported at almost 15%, which has forced wages up by the end of last year.
To face this crisis, companies should always keep themselves one step ahead of the competition by maximizing use of crucial information, Ms Lam said.
Last year the 2007 Vietnam Salary Survey attracted the participation of 156 companies with a collective sample size of 28,000 employees from foreign-invested and local companies spanning 11 major industries – including financial services, manufacturing, IT and telecommunications.
According to the Salary Survey 2007 conducted by Navigos Group, the average pay increase is 12%. However, for this year 2008, this increase is very difficult to forecast due to very high inflation rate over the recenet period.
Source: Navigos Group
