VINACHEM

Better business results and the recovery of the economy after the global economic crisis are the main reasons for businesses to increase salaries for their employees.

The results of a salary survey conducted by Mercer, one of the world leading providers of human resource consultancy services and Vietnam’s TalentNet Corporation announced on October 7 showed that the average salary increase in 2010 is 12.4 percent, nearly 0.2 percent higher than last year’s figure.

Chemical and banking sectors saw the highest salary increase of 13.9 percent, followed by the pharmaceutical sector with 13.5 percent.

The survey, which was conducted at 253 joint venture and foreign-invested companies, also reported that salaries increases were seen in almost all businesses.

The rate of surveyed businesses that did not increase salaries for employees dropped to 0.79 percent from 13 percent in 2009. This shows that companies are now paying more attention to salary policies as well as methods to attract and keep human resources.

The voluntary resignation rate in 2009 also fell 3.1 percent compared to the previous year to 13.3 percent, proving the stability of the labour market.

The Mercer salary report, which has been conducted in Vietnam since 1999, provides businesses with bases to compare their salaries with the market in order to put forth more effective salary polices./.

(Source: en.vietnamplus.vn)