If you're looking to extend your company's reach to Lebanon, you can leverage your employee benefit plans to help boost recruiting and retention efforts. A successful planning strategy can be foundational to...
Read MoreIf you're looking to extend your company's reach to Lebanon, you can leverage your employee benefit plans to help boost recruiting and retention efforts. A successful planning strategy can be foundational to establishing your business in a new region.
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If you’re looking to extend your company’s reach to Lebanon, you can leverage your employee benefit plans to help boost recruiting and retention efforts. A successful planning strategy can be foundational to establishing your business in a new region.
When you begin building your benefits scheme, you want to develop competitive offerings that will help attract the right talent. With a plan that stands out in your local market, you can help support employee development and company growth.
A strong employee benefits program will enrich the work environment and motivate your employees to succeed. As you invest in your employees’ personal and professional development, you’ll equip them to accomplish more on your team.
Some popular fringe benefits you could provide include:
Along with any supplemental offerings you provide for your employees, ensure you meet legal standards with these benefits:
Your benefits program will look a bit different in each country based on local laws and market standards, but you can use a consistent approach to help you plan effectively.
As you begin the process, identify projected revenue, project needs, and program scope. Determine how large of a team you’ll need to support and prioritize program objectives for retention and recruitment.
Knowing what other businesses in the region offer their employees is key to succeeding in the local market. Take time to research competitive benefits programs and pay attention to typical offerings that may indicate a market standard.
With the insights you’ve gathered, you can begin designing your program. Start by budgeting mandatory benefits, then incorporate supplemental offerings based on their competitive value for local employees.
Each company will have different program expenses, depending on specific goals, team scale, and other conditions. Instead of estimating your program costs based on an average, focus on your individual company’s requirements and finances.
One approach that can support your program sustainably is designating a percentage of yearly income for your benefits budget. As your company and revenue grow, you’ll be able to increase the funding proportionally.
You can follow the labor laws to set rates for any mandatory benefits. Keep in mind that several benefits in the country, including sick leave and annual leave, should be calculated based on each employee’s duration of service with your company.
When setting rates for supplementary offerings, use your research to provide competitive benefits.
All wages for your employees are taxable. In Lebanon, rates are progressive based on total income. Taxable benefits include:
Monetary benefits, such as retirement pensions, are taxed at half the standard rate.
The Lebanese healthcare system includes public and private offerings. Primary coverage is provided through the National Social Security Fund (NSSF). Anyone without NSSF coverage may receive public health hospitalization coverage under the Ministry of Public Health (MOPH). Private health insurance is not a required benefit in the country.
Globalization Partners’ global employment platform helps you build and scale an international team quickly and easily, ensuring all benefits offered to candidates are compliant and in line with local regulations. Learn more about our platform and request a proposal today.
THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE LEGAL OR TAX ADVICE. You should always consult with and rely on your own legal and/or tax advisor(s). G-P does not provide legal or tax advice. The information is general and not tailored to a specific company or workforce and does not reflect G-P’s product delivery in any given jurisdiction. G-P makes no representations or warranties concerning the accuracy, completeness, or timeliness of this information and shall have no liability arising out of or in connection with it, including any loss caused by use of, or reliance on, the information.
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