As companies strategize an overseas move, they must pay particular attention to compensation and benefits plans. The legal requirements and cultural expectations for compensation differ from country to country. When you work with Globalization Partners, you can access our Kiribati compensation outsourcing services to ensure your company is positioned for a successful and seamless international expansion. Our expert legal and HR teams will create custom compensation and benefits packages that meet the country’s regulations while giving your company a competitive hiring advantage.
Kiribati’s Compensation Laws
In 2016, the Kiribati government established the country’s first minimum wage – AUD 1.30 per hour for local businesses and companies and AUD 3.00 for overseas-funded projects. Employees in the public sector typically work an average of 36.25 hours per week — any time over 40 hours is eligible for overtime pay. The government does not regulate how many hours of overtime an employee can work.
Compensation and benefits are typically determined on a case-by-case basis through individual employment contracts.
Local labor laws stipulate that all employees are entitled to a range of benefits. These include paid time off, sick leave, and 12 weeks of paid maternity leave. Employees are also entitled to paid time off during national holidays or additional compensation if they are required to work on those days.
Kiribati Benefits Management
Offering comprehensive benefits packages is an excellent way to remain legally compliant while creating an appealing environment for the local workforce. Generous benefits will make your company more attractive to the country’s top talent, who can afford to choose where they decide to work.
Ensuring all contracts include the expected requirements — such as maternity leave, paid vacation, and sick leave — will also help your company avoid legal issues. Going above and beyond these minimums, however, will boost your employees’ job satisfaction and foster a welcoming, supportive work environment.
Depending on your company and location, additional benefits may include:
- Housing stipends.
- Food vouchers.
- Transportation stipends.
As health coverage is free, you will not have to manage any health insurance benefits packages.
How Globalization Partners Makes Managing Benefits Easier
When you’re in the process of expanding your business to a new country, seeking in-country expertise can help you to stay on top of every legal requirement with ease. Globalization Partners offers comprehensive compensation and benefits management services to support your overseas move.
Under our legal team’s expertise, you can feel confident that every detail of your wage and benefits packages is both compliant and competitive. We even offer a sliding scale of benefits, allowing you to easily build out your offerings as your budget allows.
The local government periodically amends employment laws to add new regulations or revise existing laws. As you expand your company to a new country, it is vital to stay up to date with the latest regulations and adapt to any changes. Staying updated will help you remain compliant and mitigate your risks of any legal repercussions caused by not following labor policies.
Turn to Globalization Partners for Kiribati Benefits Outsourcing
Expanding your company overseas brings countless benefits — and some serious challenges. You don’t have to manage the risks on your own. When you work with Globalization Partners, you’ll have the support of a seasoned team of HR and legal experts ready to handle every detail of your expansion. Our Kiribati benefits management solution ensures you’ll appeal to premium talent and attract the employees you need.
Are you interested in learning more? Contact us today to take advantage of our global PEO services.