Navigos Group launches 2008 Viet Nam Salary Survey

Navigos Group, an American human resources service provider in Viet Nam, has begun work on the 2008 Viet Nam Salary Survey to offer clients the latest compensation update on the country’s rapidly evolving labor market.

With the inclusion of 17 new job categories, the survey now covers almost every job group in the labor market, a total of 75 in all.

Survey methodology relies on a competency-based approach, as utilized in previous conducted surveys.

The approach places emphasis on analyzing company and individual data to demonstrate how a dynamic range of information can affect remuneration.

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 renumeration and provide data to measure a company’s competitiveness in the labor market.

The final survey report will be released in the third quarter of 2008 – before annual salary reviews and adjustments occur – and presented in a bilingual version which improves accessibility for both English and non-English readers.

With Navigos Group’s extensive client network across all major sectors, the company has always conducted the most comprehensive salary survey in Viet Nam.

This year’s survey promises to attract a considerable number of participants from numerous industries throughout the country.

According to Winnie Lam, the Human Resource Advisory Services Director of Navigos Group, the average staff turnover rate was reported at almost 15%, which helped to force 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, Lam said.

First launched in 2005, Navigos Group’s Viet Nam Salary Survey contains comprehensive information from Viet Nam’s most knowledgeable human resource consultants.

Based on international and local expertise and a strong methodological approach, these consultants are able to gather the latest and most reliable labor market information.

Last year the 2007 Viet Nam 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.

Engineers fit equipment at the $2.5 billion Dung Quat plant which is financed by proceeds from sovereign bonds and loans. (Thanh Nien)