Salary hike top labor expectation for 2023

A salary increase of 10% or more is the most common expectation of laborers in 2023, according to a report by Navigos Group, a leading HR service provider in Vietnam.

In its talent guide 2023 featuring 4,170 surveyed respondents, Navigos said an annual salary increase of 10% was the top expectation for 45.62%, followed by improvements in quarterly or annual bonus packages with 17.93%.

The results indicate that income policies are the top concerns among employees. Meanwhile, other factors such as job security/safety and allowances were the key expectations for less than 10% of respondents.

Regarding corporate policies, 60.2% of workers had high expectations for their working environments, such as improvements and changes to their work spaces, facilities, infrastructure, and technology. Another factor was corporate culture named by 28.9% of respondents, such as better communication between leadership and staff. Other top concerns were working time, working types, and working requirements.

The report also showed the high loyalty and commitment of the workforce. As many as 44.28% of respondents had no intention of changing to new jobs unless they were better, 16.25% would like to stay as long as possible, and 6.99% would like to continue as long as their companies remain healthy.

Salary not top incentive in 2022

For 2022, Navigos Group report pointed out that working environment was the dominant element regarding loyalty with 11.21% of respondents, followed by salary with 10.55% and company culture with 9.56%.

Other top factors were business sustainability, flexibility in working, business transparency, and company reputation, indicating that material factors were not the key influencing factors for employees’ decisions to stick with their current employers.

Navigos Group's online recruitment portal VietnamWorks features 5.5 million job finders and over 60,000 recruiters.