As one of the top enterprises of big salary fund, Viettel Construction always tries its best to ensure employees' income

In the context that the business operations were more or less negatively affected by the Covid-19 epidemic, many businesses were forced to cut their salary funds to save costs. Most of them have tried their best to reduce the personnel, but instead to reduce salaries and bonuses. This is reflected in the published quarterly and annual financial statements of enterprises.

Overview of salary situation and labor costs of large enterprises

Statistical data from the financial statements of joint stock companies shows that there are 02 enterprises with labor costs in 2019 of over VND 10,000 billion, namely Vingroup and FPT.

As the largest enterprise in the stock market, operating in multiple industries, it is not surprising that Vingroup has the largest labor cost of over VND 16,500 billion.

FPT is at 2nd place with a salary fund of nearly 10,300 billion dong. By the end of 2019, the group had nearly 29,000 employees, an increase of 1,000 compared to the previous year.

Banks with high income space and large number of employees account for the majority of the next positions on the list, respectively BIDV (VND 9,700 billion), Vietinbank (VND 9,500 billion), Vietcombank (VND 8,900 billion), VPBank (7,300 billion) ...

In general, for service businesses or banks, labor cost is always the main cost, which can account for half or two-thirds of the total direct cost.

Other non-bank businesses with large labor costs include Vietnam Airlines (VND 9,600 billion), Mobile World (VND 7,900 billion), Petrolimex, Vinatex, ACV, THACO ...

What a surprise, Viettel Construction!

Surprise to the public in recent years, Viettel Construction appeared in the top of the enterprises with large salary and labor cost of 2,886 billion, far surpassing many other large enterprises such as Vinamilk, Hoa Phat or Sabeco. Specifically, among non-banking businesses, Viettel Construction ranked 9th (after Vingroup, FPT, Vietnam Airlines, Mobile World, Petrolimex, Vinatex, ACV, THACO).

With a staff of about 10,000, Viettel Construction maintains the average cost per employee at about 20-25 million / month. Labor costs include salaries, bonuses, allowances, benefits, salary for seasonal employees ... as well as mandatory salary contributions (press data analyzed according to the 2019 Annual Report). Compared with the big enterprises in general, the average labor cost of Viettel Construction is 13th (employees are paid higher than employees of other big enterprises such as Vingroup, Vinamilk, Mobile World, Petrolimex, Hoa Phat ....)

In the first four months of 2020, under the influence of the Covid pandemic, while many other businesses reduced costs and labor in various forms such as wage cuts and layoffs, Viettel Construction remained stable. Labor costs and increase recruitment. This shows that production and business activities and remuneration and remuneration regimes remain stable.

The above results reflect the right development strategy of Viettel Construction in the difficult period and the consensus of employees in the whole Corporation. Hopefully this achievement will be maintained and Viettel Construction will reach a higher new target in 2020.