Ireland Compensation & Benefits
You’ll need to follow a variety of Ireland compensation and benefits laws to stay compliant when expanding your business. Employers must follow the country’s statutory minimums and provide any supplemental benefits that could attract a greater talent pool or stand out among other employers. Globalization Partners is here to help throughout your entire journey with our Ireland benefit outsourcing services.
Ireland Compensation Laws
As of January 2019, Ireland compensation laws dictate a minimum wage of EUR 9.80 per hour, but some exceptions exist. Employees under 18 get 70% of the minimum wage and employees working for the first year since reaching 18 receive 80% of the minimum wage. Employers must give every employee a payslip that shows their earnings and any deductions.
Overtime pay is not a legal requirement, but many employers include overtime rates in an employment contract. As an employer, you should review this contract with your employees before their first day.
Although Ireland compensation laws do not require employers to provide a bonus, many choose a bonus scheme for their employees. Monetary or shares performance-based bonuses are two standard options.
When you develop your Ireland benefit management plan, you’ll need to include both guaranteed and additional benefits. Employees typically receive 20 days of yearly vacation. You can calculate the number of days an employee receives based on how many hours they work in a given year. In addition to statutory annual leave, works get the country’s nine public holidays off.
Female employees are entitled to 26 weeks of maternity leave and 16 weeks of additional unpaid leave that begins immediately after the end of maternity leave. Payment depends on the employee’s contract. Some employers are not obliged to pay women over maternity leave, while other employees may qualify for Maternity Benefit from the Department of Social Protection.
Every Ireland resident receives healthcare through the country’s public healthcare system funded through general taxation. However, an additional private healthcare system with long waiting times is available. Many employees will still request private health insurance.
Ireland Benefit Management
Employers should typically budget around 20% on top of an employee’s gross salary for benefits. Ireland benefit management includes benefits-in-kind such as:
- A company car
- Free or subsidized accommodation
- Taxable, preferential loans depending on what the employee earns
- Stock options
One of the easiest ways to keep track of all these benefits is through Ireland benefit outsourcing services. As a global PEO, Globalization Partners has the experience and expertise you need to expand to Ireland. We will source the best benefits on your behalf and follow all Ireland compensation laws.
Restrictions for Benefits and Compensation
The best way to outline any restrictions and working hours while meeting all compensation laws is through an employment contract. In this contract, you can define sick pay entitlements, maternity leave, overtime pay, and other constraints.
Partner With Globalization Partners
If you need Ireland compensation outsourcing, Globalization Partners is here for you. Contact us today to learn more about how our services can help your company.