When you think about what you’ve valued throughout your employment, two consistent factors probably rank high — compensation and benefits. Providing a high level of compensation and supplemental benefits can encourage greater retention rates and show employees their value. Meeting Cameroon compensation laws will also help your company stay compliant and avoid costly fines and delays.
Globalization Partners understands how hard it is to find the time to source benefits when you’re trying to expand. We offer a suite of global expansion services, including Cameroon compensation and benefits outsourcing, to help you grow in new places without the stress of compliance. We’ll pay your employees using our locally compliant payroll, add them to our benefit management plan, and shoulder all compliance, so you can focus on your business instead of worrying about setting up a subsidiary.
Cameroon Compensation Laws
Cameroon’s minimum wage is currently 36,270 CFA francs, which is about 55 EUR. This minimum wage applies to all sectors unless there’s a collective bargaining agreement (CBA) governing your industry. While CBAs are not overly common in Cameroon, you should check for any that could affect Cameroon compensation laws before drafting an employment contract.
Guaranteed Benefits in Cameroon
All employees must receive statutory benefits required by law for your company to stay compliant. For instance, Cameroon celebrates 10 public holidays for which employees should get the day off. The country also has a vacation requirement — employees are usually eligible to accrue 1.5 days of leave for each month they work. After five years, they should get an additional two days per month.
Employees are also eligible to receive 10 days of paid leave for family events. Mothers with kids under six should get two extra days of leave for each child who lives at home, or one day if the mother’s accrued leave doesn’t exceed six days.
Cameroon Benefits Management
In addition to the statutory benefits required by law, you can make a positive impression on employees by providing additional benefits as part of your Cameroon benefits management plan. You might, for example, give out performance-based bonuses at the end of the year or provide a private health insurance plan. If you don’t want to source a particular health insurance plan, you can give employees a stipend to find their own.
Restrictions for Benefits and Compensation
Companies expanding to Cameroon can’t provide compensation and benefits until they incorporate. However, the incorporation process can turn into a difficult process and may take anywhere from a few weeks to a few months.
The only way around this restriction is by working with a global PEO such as Globalization Partners. We have subsidiaries around the world that you can use for a fast and easy expansion without your own subsidiary. When you choose Cameroon benefits and compensation outsourcing with us, you also won’t have to worry about meeting Cameroon compensation laws or finding your own benefits.
Choose Globalization Partners Today
An expansion is an exciting time for your company, and it doesn’t have to be stressful. Contact Globalization Partners today to learn more about Cameroon compensation and benefits outsourcing.