VIETNAM, June 16, 2021 — Amidst the news on the development and availability of COVID-19 vaccines, an increasing number of organizations in the Vietnam have sought information on how companies plan to manage vaccinations for their workforce. A recent survey conducted jointly by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, and Vietnam Human Resources Association (VNHR) on 172 HR practitioners found that only 17% have already arranged, or are in the process of arranging, the purchase of vaccines on their employees’ behalf. More than half (55%) of the respondents are considering doing so and 28% of companies have no plans of purchasing the vaccines.
In addition, 70% of the respondents, have also indicated that they are working on the procurement of vaccines for the dependents of their employees. When procuring or facilitating the purchase of the vaccine for employees’ dependents, two-third of the respondents have indicated that these would include spouse and children, about half would include parents of employees and parents of employee’s spouse.
When considering the procurement of vaccines for their employees, 50% of companies said they would fully pay for these vaccines. One quarter (25%) indicated that they would subsidise the cost, but not shoulder a 100% payment of it. And about the same proportion of 25% said that they have not decided in subsidising this cost yet.
As for dependents and/or household members, about one third of companies would fully pay for these vaccines. About half of them would pass on the cost to their employees.
The study also reveals that 25% of respondents have already covered the vaccination cost (in general) for their employees. Among those that have not, 73% have indicated that they will consider covering COVID-19 vaccination cost in their benefits program from next year. When considering the benefits program, 57% of companies have indicated that they will add COVID-19 vaccination as a stand-alone benefits program and 37% will add that to their current Health & Benefits program.
When being asked about a certification such as the 'vaccine passport”, the vast majority (81%) of companies support this initiative.
“The outbreak of COVID-19 is showing signs of decline in European and American countries, but the cases continue to increase in some parts of Asia. One of the reasons is that Asian countries seem to be slower in implementing their vaccination strategy. We all know that vaccination is the ultimate solution to repel the coronavirus. In addition to relying on government policy, employers can play a part to help speed up the vaccination programme in Vietnam. Along with the preparation of the vaccination plan, employers in the country are paying great attention to the health and wellbeing of their employees.” said Bui Thi Hoang Yen, Head of Health and Benefits, Willis Towers Watson Vietnam. “By providing timely communication, along with benefits and access, employers can assist employees in getting vaccinated. This is an important role that employers can play in helping to protect their employees and limit the spread of the virus.”
The Vaccine Survey was conducted in May 2021, jointly by VNHR and Willis Towers Watson Vietnam, and reflects responses from 172 HR practitioners in Vietnam.
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential.
