Once you find the perfect candidate to hire for your open position, you need an incentive for them to choose your company over another. Often, the incentives are compensation and benefits. Employees will frequently choose one position over another based on the benefits plan, and meeting Andorra’s compensation laws and statutory benefits will ensure that you stay compliant.
If you need help figuring out what benefits to provide or how much to pay employees, remember that you can trust Globalization Partners. We offer Andorra benefits and compensation outsourcing through our existing entity in the country. We’ll work on your behalf, adding your employees to our payroll and benefits plan to make sure you meet the right laws and have happy employees.
Andorra Compensation Laws
Andorra recently changed its national minimum wage in 2021 to 1,121.47 EUR a month. However, most jobs pay above this threshold and also include tips, commissions, and incentives. If you’re asking employees to work a night shift between 10 p.m. and 6 a.m., you must pay them at least 20% over the minimum wage.
Guaranteed Benefits in Andorra
The most important part of your Andorra benefits management plan is providing statutory benefits according to the country’s laws. Doing so will ensure that you stay compliant without any fines, delays, or potential litigation. First, provide 14 days of paid time off for the country’s national holidays. Employees should also get at least 30 calendar days of paid annual leave after completing one year of employment. Before the one-year mark, employees will get leave on a pro-rate basis at two and a half days each month.
Sick and maternity leave are two other vital benefits. When your employee takes sick leave from an illness or accident, their work contract will get suspended. Working mothers should get 16 weeks of maternity leave with full pay. They’ll get two more weeks for each child they have in the case of multiple births.
Andorra Benefits Management
Dispersing supplemental market norm benefits will show employees that you’re willing to go above and beyond to make a working relationship work. Although these benefits aren’t required by law, many employees expect them anyway and won’t choose your job without them. We recommend providing anything from performance-based bonuses to private health insurance depending on your budget and the culture.
Restrictions for Benefits and Compensation
Companies looking to work in Andorra fast often can’t because of certain restrictions. The major issue is that you must have a subsidiary in Andorra before you can provide benefits and compensation or handle any other tasks. The only exception to this restriction is working with Globalization Partners. Since you’ll use our subsidiary to run your company, you can work in as little as a day or two. Without the risk of compliance, you can manage your company with complete peace of mind.
Choose Globalization Partners Today
Globalization Partners will help you grow your company across the globe. Learn more about Andorra compensation and benefits outsourcing today by contacting us.