Côte d’Ivoire Compensation & Benefits
Sourcing the right benefits and providing adequate compensation are difficult tasks in any country, and they can become even more challenging when you’re trying to meet a foreign country’s compensation and benefits laws while running a company. That’s why Globalization Partners offers Côte d’Ivoire compensation and benefit outsourcing services for companies looking to expand without the stress of compliance. We’ll also act as the Employer of Record to handle all Côte d’Ivoire compensation laws on your behalf.
Côte d’Ivoire Compensation Laws
Côte d’Ivoire’s compensation laws include a minimum wage that varies by occupation. The minimum wage was last changed in 1994, and the lowest rate is 36,607 CFA francs per month for workers in the industrial sector. Construction workers make a slightly higher rate, and any collective bargaining agreements (CBAs) could also change the amount you have to pay employees.
The Ivory Coast’s Labor Code requires employers to pay employees directly or indirectly using cash or in kind. If employees work 40 hours a week, they should get paid 12 times a year, or once each month.
Guaranteed Benefits for All Employees
One of the most important aspects of your Côte d’Ivoire benefit management plan is providing statutory benefits to all employees. You must provide these benefits to stay compliant, including:
- Time off for the country’s 14 public holidays
- 26 days of paid annual leave after one year of employment and 27 days after five years of work
- At least five days of paid sick leave
- 14 weeks of paid maternity leave for female employees
- Enrollment in the universal health care system
How to Give Benefits to Employees
You should also give out supplemental benefits that will encourage employees to stay with your company. For example, Côte d’Ivoire’s health care system charges all citizens over five more than 1,000 CFA francs for low-cost treatment. Although it’s not required, you could source a private health care plan for employees or give them a stipend to find their own insurance.
Many countries choose to provide a 13th- or 14th-month bonus. Côte d’Ivoire does not require yearly or performance-based bonuses, but you can choose to provide one to show employees that they’re appreciated. Once you decide on any additional benefits you want to provide, you should add them to your employment contract.
Restrictions for Benefits and Compensation
Companies cannot provide compensation or benefits until they incorporate in Côte d’Ivoire. However, setting up a subsidiary is a time-consuming process and also requires expertise in Côte d’Ivoire compensation laws. If you work with Globalization Partners, you won’t have to set up a subsidiary before giving out compensation and benefits. We’ll use our existing subsidiary and Côte d’Ivoire compensation and benefits outsourcing to help you expand without the hassle of compliance.
Contact Globalization Partners to Learn More
Our goal is to help you stay compliant while giving you the peace of mind that you can hire employees and give out compensation and benefits quickly. Contact us today to learn more about Côte d’Ivoire benefit and compensation outsourcing.