Benin Compensation & Benefits
Compensation and benefits are two of the most complicated but important aspects of hiring. Your employees may expect a certain level of pay and benefits when choosing your company. Plus, your company needs to meet Benin’s compensation laws and provide a Benin benefits management plan that complies with statutory requirements.
Globalization Partners makes it easier to handle all aspects of an expansion through Benin compensation and benefits outsourcing. By adding your employees to our payroll and benefits plan, you can free up your time to focus on running your business. As a result, you won’t have to worry about compliance, sourcing benefits, or making sure you’re paying employees the right amount at the right time.
Benin Compensation Laws
Benin does have a national minimum wage that was last changed in 2014. All workers must get paid at least 40,000 West African CFA francs per month. While the country does not have many prevalent trade unions or collective bargaining agreements (CBAs), these agreements could have separate laws that you need to follow. We recommend checking to see if a CBA covers your industry before drafting an employment contract.
Guaranteed Benefits in the Country
Benin has 16 national holidays throughout the year, and your employees must get those days off. Generally, employees are entitled to 24 days of paid annual leave and should get an increase up to six days after 30 years with your company. Employees are not allowed to take more than 30 working days off within a year, and they must take their leave within 12 months of the receipt.
Another statutory benefit is maternity leave. Your female employees should get six weeks of paid leave before the birth and another eight weeks after the birth. Employers pay for half of this leave, and social insurance covers the other half. Fathers typically get three days of paid paternity leave, but you can choose to offer more.
Dispersing Your Benin Benefits Management Plan
Giving out benefits as part of your Benin benefits management plan also includes supplemental options. Many employers choose to go beyond the statutory minimums to increase retention rates and employee happiness. For example, Benin currently operates under a public/private health care system. You can choose to provide additional private insurance for employees or give them a stipend so that they can source their own plan.
Restrictions for Benefits and Compensation
Companies expanding on their own face restrictions when trying to expand without a subsidiary. You’ll need a registered entity to start working, including hiring employees, paying them, and giving out compensation and benefits. However, Globalization Partners can eliminate this restriction by helping you get started working without your own registered entity. You can use our Benin PEO to pay employees, disperse benefits, and more without any risks of noncompliance.
Trust the Global Experts at Globalization Partners
Globalization Partners has an entire suite of global expansion services meant to help you expand faster. Reach out to us today for more information about Benin benefits and compensation outsourcing.