5 Ways to Win Candidates When Recruiting on Year-End

With years of experience in recruitment, Aniday has identified several reasons that candidates find most compelling when deciding to switch jobs at the end of the year. Let's explore these reasons together.

What Candidates Consider When Deciding to Change Jobs at the End of the Year

With years of experience in the recruitment industry, Aniday has identified some of the top reasons candidates consider when deciding to change jobs at the end of the year. Let's take a look at what matters most to them.

For many, compensation is the driving factor. When a person's salary no longer meets their needs or allows them to achieve personal and financial goals, they are more likely to seek other opportunities.

Lack of career growth can also lead to job changes. If a company isn't providing opportunities to develop skills and advance in their career, employees will look elsewhere.

Poor treatment from managers or colleagues may be the last straw that causes someone to start a job search. Feeling unappreciated or disrespected at work negatively impacts job satisfaction.

Benefits That Help Candidates Choose Your Company During Year-End Hiring

1. Attractive Bonuses

Year-end bonuses are always a significant point of interest for candidates, especially considering the impact of COVID-19 in the last two years. Offering attractive year-end bonuses can be a key factor in attracting candidates. 

Aniday has witnessed a highly successful recruitment case study during this period, where a startup committed to providing a full 13th-month salary to an employee who had only been with the company for 3-4 months.

2. Sign-On Bonuses

A sign-on bonus is a one-time payment made by a company to a new employee as an incentive to join. This bonus is often used to make the overall compensation package more appealing, especially when the annual salary is lower than the candidate's expectations. It also mitigates risks for the company, as it is a one-time payment.

To encourage employee retention, contracts may include clauses requiring employees to repay the signing bonus if they leave before a specified period. In some cases, the entire bonus may not be paid immediately but distributed over time according to the terms of the contract.

3. Tet Bonuses

Tet bonuses, given during the Vietnamese New Year, are eagerly anticipated by all workers. If managed wisely and effectively, Tet bonuses can help companies attract top candidates in the year-end job market. Aniday highlights a case study to emphasize the impact of Tet bonuses on candidate attraction.

4. Project-Based Bonuses

Apart from bonuses during holidays or significant days, failing to provide bonuses or rewards on occasions like birthdays may be seen as a neglect of employees. Bonuses for specific projects are a significant consideration for candidates. 

Many large projects often have separate bonuses allocated for team members, serving as a strong motivator for candidates to be interested in your company.

5. Full Salary Insurance:

In today's work environment, especially for high-level office employees, the company's commitment to full salary insurance is increasingly crucial. This benefit is considered a fundamental right, and having full salary insurance can be a competitive advantage for your company in attracting candidates.

Employees are now more concerned about whether the company provides full salary insurance. This is a significant benefit, even though most companies previously only provided insurance based on the basic salary. 

If your company offers full salary insurance, Aniday believes it will be a competitive edge in attracting candidates, as employees primarily focus on the net salary they receive without considering the social insurance they have to contribute.

When contributing to social insurance, employees are required to pay 10.5%. If calculated as 10.5% of the full salary, the amount is significant. Knowing that they contribute 5 million VND but the company has to contribute twice that amount (10 million VND) at a rate of 21.5%, employees will realize that the gap is much larger.

In conclusion, offering these benefits during year-end hiring can significantly enhance your company's attractiveness to potential candidates, giving you a competitive edge in the job market.