Showing your employees that you care by providing compensation and benefits will go a long way in securing their career with your company. Meeting the minimum requirements will also ensure that you stay compliant. Despite the importance of compensation and benefits, however, not all companies have the time to source benefits and meet Lesotho’s compensation laws during a time-consuming expansion.
If that’s your situation, remember that working with Globalization Partners can help. As a global PEO, we can use our existing subsidiaries in countries around the world to help you expand. Our Lesotho compensation and benefits outsourcing services mean that we can add your employees to our payroll and benefits plan. You can, as a result, feel confident that your company will stay compliant while focusing your time on more pressing tasks.
Lesotho’s Compensation Laws
Lesotho’s minimum wage varies by sector and can range from 686 maloti to 5,711 maloti a month. The Labor Code doesn’t prohibit working on a weekly rest day or public holiday, but employees should get 200% of their normal wage rate. If it’s a public holiday, employers can decide to either pay double the typical wage rate or provide a fully paid rest day.
Guaranteed Benefits in Lesotho
When you start to draft a Lesotho benefits management plan, your priority needs to be adding statutory benefits first. Employees are entitled to at least 12 working days of annual leave each year — or one day for each month of continuous employment with your company. They can also opt to receive a cash payment and only take six days of the statutory annual leave. Lesotho also celebrates 10 public holidays, which must be paid days off for employees according to the Public Holidays Act.
Maternity leave should last at least 14 weeks, and female employees should make at least 2/3 of their salary while on leave. Employees should have access to medical and midwife care without any extra costs, and they’re protected from dismissal or other discriminatory treatment while taking time off from work.
Lesotho Benefits Management
Dispersing benefits to Lesotho employees needs to happen as soon as they begin working for your company. It can help to disperse additional benefits at the same time you disperse guaranteed benefits. Exceeding Lesotho’s compensation laws and benefits requirements will show employees that you truly want them to work for your company over another, and it can convince them to stay in their positions for years to come. Try giving out anything from paid paternity leave to performance-based bonuses based on what your employees care about most.
Restrictions for Benefits and Compensation
The number one restriction for compensation and benefits is the incorporation process. If you’re expanding on your own, you must complete the incorporation process before hiring employees and giving out compensation and benefits. Globalization Partners will help you bypass this restriction through Lesotho compensation and benefits outsourcing. You can use our subsidiary to start working immediately and begin reaping the benefits of a global expansion.
Choose Globalization Partners Today
Trust Globalization Partners for help with your expansion. Contact us today to learn more about Lesotho benefits and compensation outsourcing.