[2022 Update] Payroll Regulations to Keep in Mind While Doing Business in Vietnam

In 2018, the government of Vietnam issued a new Decree 143/2018/ND-CP in regards to the mandatory social insurance payments and payroll for foreign workers employed in Vietnam. In 2019, the government released Decree No. 90/2019/ND/CP, announcing that starting on January 1, 2020, the monthly minimum wage in Vietnam would be increased by approximately 5.7%. The … Continued

HR Outsourcing and How It Impacts Business Performance

With Human Resources being one of the most undervalued departments within many businesses around the world, including in Vietnam, it is important to notice how the position of this function can have an extensive impact on your business. Going about it the right way can contribute to massive cuts to your overhead costs, especially in … Continued

Your Simple Guide to Payroll in Vietnam: Compensation, Benefits, and Bonuses

Setting up your business expansion in Vietnam includes setting up your local workforce which entails following regulations for payroll regulations. It is vital for foreign entrepreneurs to be up to date with the payroll system as well as the constant legal updates to the national labor code. The country’s HR setup and payroll procedures can … Continued

Considering Outsourced and In-house Payroll Management when expanding to Vietnam

Payroll management should be a top priority of any business as they plan to enter a new market like Vietnam. Payroll can be managed either in-house or outsourced. No matter how lucrative it seems, outsourcing right after starting a new business sounds risky. Thus, the decision to choose outsourcing or keeping payroll management in-house when … Continued

Vietnam’s Minimum Wage to see 6% Increase from July 2022

In order to combat rising inflation rates as well as consequences of the Russia-Ukraine war such as supercharged gas prices, the Vietnamese government has issued Decree 38/2022/ND-CP for statutory minimum wage adjustments.  The Prime Minister, working alongside the Ministry of Labor, War Invalids and Social Affairs, has just announced this change during a dialogue program … Continued

Payroll Update 2022: Minimum Wage in Vietnam

The government of Vietnam released Decree No. 38/2022/NĐ-CP, announcing that from July 2022, the monthly minimum wage in Vietnam would increase by approximately 6% to 4,680,000 VND in urban areas. This new payroll regulation in Vietnam goes into effect on July 1, 2022. If you are a foreign direct investor looking to set up in … Continued

How Employee Turnover Rate Reduction is Made Possible with HR Outsourcing in Vietnam

HR outsourcing in Vietnam isn’t exactly a new idea in Vietnam’s dynamic business environment. HR outsourcing means having an external, third-party vendor to provide company HR services that usually perform internally in the company. For many years, companies in Vietnam have contracted with HR outsourcing suppliers to perform a myriad of HR functions. Read About … Continued

5 Payroll Challenges Commonly Faced by HR Dept. in Vietnam & How to Tackle

There are always new opportunities and challenges in setting up a new business in a foreign country. If you want to have a successful business in Vietnam, you must consistently address the common issues with payroll management. Hiring, firing and dealing with taxes, insurance and more can tough while navigating the bureaucracy of a new … Continued

Payroll and HR Outsourcing in Vietnam

Vietnam provides foreign businesses with a young, well-educated workforce. Employers must gain a thorough understanding of human resource management. Many companies primarily rely on HR outsourcing entities, particularly for advice related to recruitment, training, and payroll. Many multinationals report that they would like to outsource more of their operational HR practices to a regional shared … Continued

The Pros and Cons of Payroll Outsourcing to a Provider in Vietnam

Payroll is an important function of every business. As your business continues to grow in Vietnam, you will need additional support to keep every function in your company going smoothly. However, it’s sometimes challenging to keep up with these functions such as payroll. What is more, many business owners feel that their in-house teams do … Continued

Why SMEs in Vietnam should Consider Payroll Outsourcing

Payroll is a crucial function to keep your business operating smoothly. However, it can be a time-consuming task. This is why many organisations, especially SMEs (Small & Medium-sized Enterprises), hand this vital task to someone outside the company due to the plenty of benefits for doing so. Let’s go into the details of the plus … Continued