In 2022-2023, the real estate market faced a downturn, forcing many companies to downsize their workforce by thousands of employees. In 2024, as the market began recovering, many real estate firms employed more workers to accelerate business, though the recovery was slow.
In addition to a 13th-month salary, some real estate firms even offered cars and luxury mobile phones to workers who meet or exceed KPI (Key performance indicator).
Nguyen Anh Que, Chairman of G6 Group, said better business performance in 2024 allows the company to plan better year-end bonuses than the previous year.
It is expected that office workers will get 13-month salary, while sales officers will get bonuses depending on their KPI, estimated from several million to tens of million of dong.
The company is running a 45-day countdown campaign leading up to the Lunar New Year, where rewards include iPhones and cars for those meeting or exceeding targets.
As for Dat Xanh Mien Bac, its CEO Vu Cuong Quyet said in 2023, the company had to downsize its workforce to maintain operations, while in 2024, the staff increased by 60-70 percent.
“Dat Xanh Mien Bac in Hanoi and subsidiaries all saw staff expanding in 2024. The number of workers in Hanoi has increased from 300-350 to 550-600. If counting in the workers of the entire system in the north and subsidiaries, the figure would be about 1,000,” Quyet said.
With the real estate market's recovery beginning in the second quarter of 2024, better business performance and higher Tet bonuses are understandable.
Quyet said Tet bonuses this year will be ‘bigger than last year’.
Like many other real estate firms, Khang Land in 2023 had to cut a number of branches and downsize personnel because the market was frozen, but in 2024, it employed more workers.
According to Khang Lan president Nguyen Vu Cao, administrative workers will get a 13th month salary for Tet bonus, while salespeople will receive bonuses based on their sales.
“The officers with sales of over VND50 billion last year will get a bonus of VND100 million,” he said.
Hoping that the real estate market will prosper in 2025, Cao said his company would focus on HCM City market and suburban areas, Nha Trang and Da Nang in the southern and central regions. Meanwhile, in the north, it will target Hanoi, Hung Yen, Bac Giang, Bac Ninh, Hai Phong and Quang Ninh markets. Land and apartments are the two major products it will distribute.
Tet bonuses are not mandatory for businesses in Vietnam. However, most businesses give bonuses to their workers.
Nguyen Le