Often, the first things people ask about during a job interview are compensation and benefits — and Liberia is no different. Your future employees want to know if meeting Liberia’s compensation laws as well as exceeding them. They’ll also look for a competitive Liberia benefits management plan when they’re choosing a position.
Globalization Partners can help you stand out from the competition with the right Liberia compensation and benefits. Instead of having to source your own benefits and learn the applicable laws, you can use our Liberia PEO to get started right away. We’ll add your employees to our benefits plan and payroll, and we’ll also handle compliance on your behalf.
Liberia Compensation Laws
Liberia does not have a national minimum wage. Instead, this wage varies by type of employee. For example, unskilled laborers must make at least 15 Liberian dollars an hour, while civil servants earn at least 5,600 Liberian dollars a month. Certain unions in Liberia have more power in the country and are currently negotiating or have already achieved wage increases. For example, the United Workers Union of Liberia (UWUL) and ArcelorMittal Liberia (AML) recently signed a labor contract for miners, forklift drivers, and other workers that will increase wages by 14.5%.
Guaranteed Benefits in Liberia
Next, you need to add all guaranteed benefits to your Liberia benefits management plan. Only employees who have worked at least three years with the company get paid time off. At three years, employees get two weeks of paid vacation, then receive four weeks from five years and on.
Female employees should receive three months of paid maternity leave at their full pay. These women cannot be fired for any reason related to their pregnancy. Liberia does not have any statutory paternity leave policy or guaranteed sick leave.
Liberia Benefits Management
Sometimes you need to do more than simply give out the required benefits. Adding supplemental market norm benefits to your plan can show employees that you truly care about them and want them to continue working with your company. It can be as simple as a small performance-based bonus, or you can provide an entire private health care plan. If you’re not sure what to provide, asking your employees can help you decide what would be truly meaningful.
Restrictions for Benefits and Compensation
Companies expanding to Liberia cannot provide compensation or benefits until they have a subsidiary in the country. This legal entity is necessary to handling all tasks, from payroll to hiring to giving out benefits. Unfortunately, you could spend weeks, months, or even a year trying to set up your subsidiary before you can even start working in the country.
Globalization Partners envisions a world where companies can expand quickly without any unnecessary barriers. You can use our subsidiary infrastructure to work fast and avoid compliance issues. We’ll act as the Employer of Record, so you can focus your time on building your business.
Choose Globalization Partners Today
Globalization Partners is the team you need on your side during an expansion. Contact us today to learn more about Liberia benefits and compensation outsourcing.