Evaluation of the Differences in Employees' Feelings About the Salary Policy at the Vietnam Bank for Agriculture and Rural Development

In the market economy, the enterprise's salary policy is an effective human resource management tool while ensuring harmony in labor relations and internal relations between wage earners. This article gives a literature review of studies from the country and worldwide to evaluate the differences in employees' feelings about the salary policy at the Vietnam Bank for Agriculture and Rural Development (Agribank). The salary policy of the enterprise is explored through assessing the perceptions of employees on four aspects, including (i) the basic salary, (ii) the salary structure, (iii) the salary payment project, and (iv) financial incentives and welfare. Data were collected from questionnaires for 216 employees who are working at Agribank. The quantitative approach is employed for evaluating employees' feelings about the salary policy. The results reveal that employees' feelings about the salary policy include four components that are highly appreciated. With different experiences, the salary policy is also perceived differently, and different job positions and salary policies are also perceived differently. There is also a difference in the employees' feelings about the salary policy between men and women. Based on the findings, some recommendations are proposed to fulfill the salary policy.