It takes less than 2.5 years for the average employee in Vietnam to get promoted, which is nearly half a year faster than the regional average, online employment site JobStreet stated in a recent report.
A formal promotion is defined by the report as a change in job title or level in the firm, along with extra compensation and benefits.
The report was based on a survey of close to 10,400 workers and about 520 employers from a variety of industries, with respondents from Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
When it comes to a pay rise that accompanies a promotion, employers in Vietnam seem to be the most generous in the region with a 24 percent increase. Singaporean companies offered an average raise of just 14 percent, compared with the regional 16 percent average.
However, “the promotion process and outcome was rated as unfair,” said the report. Workers in Vietnam rated “fairness of promotion processes” poorly, at 3.25 out of seven, just slightly higher than workers in Singapore and Malaysia, and gave a 3.77 rating for “fairness of promotion outcomes”.
The survey also found that employers and employees have different ideas about what is the most important factor that affects a promotion.
Workers believe that a person’s circle of influence has the most impact on their promotion.
Employers, on the other hand, believe that on-the-job skills are the most important, followed by leadership traits, and performance or attitude. Circle of influence was considered the least important factor when considering promotions.
The survey and report were conducted to try to understand the promotion process and various factors influencing promotions, as well as workers’ attitudes towards promotion practices.