Kyrgyzstan Compensation & Benefits
Job candidates in the Kyrgyz Republic, commonly known as Kyrgyzstan, are likely considering many different factors when choosing a position. Maybe they want to find a job that’s close to their office or one that provides flexible hours. That said, most employees focus the most on the compensation and benefits one job provides over another.
Globalization Partners understands how important benefits and compensation are for both you and your employees. As a company, you need to meet the Kyrgyz Republic’s compensation laws and provide the statutory minimums as part of your Kyrgyz Republic benefits management plan. Globalization Partners makes it easier to meet the country’s requirements through Kyrgyz Republic compensation and benefits outsourcing.
Kyrgyz Republic Compensation Laws
The Kyrgyz Republic’s minimum wage is 970 Kyrgyzstani Som per month, which is about $14. The minimum wage last changed in January 2015. The Kyrgyz Republic’s compensation laws require you to pay employees in cash instead of using a promissory note, debt instrument, ration card, or other money substitutes.
Keep in mind that your employment contract needs to meet the minimum requirements, whether those come from Kyrgyzstan labor laws or a collective bargaining agreement (CBA). Although CBAs are not very common in the country, you still need to see if your industry has one, as it could outline separate laws.
Guaranteed Benefits for Employees in the Kyrgyz Republic
Employees in the Kyrgyz Republic celebrate 11 national holidays, during which they should get time off. You should also provide four weeks of paid annual leave that employees can take all at once or two weeks at a time. Your Kyrgyz Republic benefits management plan should include paid sick leave at an amount that’s up to you.
Maternity leave is another important statutory benefit. Female employees should get 136 calendar days of maternity leave — 70 before the birth and 56 after the birth. The state social insurance pays for this leave instead of the employer, but female employees may also be eligible for unpaid maternity leave until a child reaches 18 months old.
Dispersing Your Kyrgyz Republic Benefit Management Plan
One of the best ways to show employees you appreciate them is by providing additional benefits as part of your Kyrgyz Republic benefits management plan. Consider giving out performance-based bonuses or a 13th-month bonus, and include the terms in an employment contract. The Kyrgyz Republic provides free, primary health care to all citizens, but you can still offer supplemental health insurance through a private plan. If you don’t want to source health insurance, you could even provide a stipend for employees to find their own.
Restrictions for Compensation and Benefits
Companies can run into trouble trying to give out compensation and benefits before establishing a subsidiary. You’ll need a registered entity in the Kyrgyz Republic to legally provide benefits and compensation for employees unless you work with Globalization Partners. We can provide Kyrgyz Republic compensation and benefits outsourcing through our existing PEO to help you start working without your own subsidiary. Plus, we’ll take on the risk of compliance as the Employer of Record.
Work With Globalization Partners
Globalization Partners helps make it easy to expand to foreign countries such as the Kyrgyz Republic, or Kyrgyzstan as it’s commonly known. Contact us today to learn more about Kyrgyz Republic benefits and compensation outsourcing.