Growing into Macedonia is a great way to show your clients you’re committed to expanding across borders. But amid the excitement, you still have to worry about hiring new employees, adding them to your payroll, and providing a competitive Macedonia compensation and benefits management plan that will keep employees happy.
Globalization Partners believes in a world where you can collaborate without the hassle or time-consuming nature of establishing a subsidiary. Instead of you incorporating in Macedonia, we’ll act as your Employer of Record to help you work faster. Our Macedonia compensation and benefit outsourcing services will take another thing off your to-do list and give you the peace of mind that you’re staying compliant.
Macedonia Compensation Laws
As of 2021, Macedonia’s compensation laws included a countrywide minimum wage of MKD 14,500 a month. Your employment contract should include this minimum wage or any other wages outlined by a trade union or collective bargaining agreement (CBA). If your industry has a CBA, you need to follow those Macedonia compensation laws to ensure compliance.
Guaranteed Benefits as Part of Your Macedonia Benefit Management Plan
Macedonia has 11 national holidays each year, and employees should get the day off. All employees are entitled to 20 to 26 days of paid annual leave with an additional seven days for marriage, bereavement, or professional exams. You should also provide paid sick leave per your employment contract at a rate that works for your company.
Your female employees are entitled to nine months of paid maternity leave, and fathers can take up to seven days of paid paternity leave if the mother doesn’t take her maternity leave. Health insurance is another guaranteed benefit, as Macedonia offers public health care through the Health Insurance Fund. This fund covers most preventive care, examinations, and treatments for employees.
How to Disperse Benefits in Macedonia
When you’re ready to disperse your Macedonia benefit management, you should also take some time to add supplemental benefits that employees may expect. For example, many Macedonian employers choose to provide annual bonuses based on a rate outlined in an employment contract. Other employers in the country may offer supplemental insurance that covers private health care or a stipend that lets employees choose their own plan.
Restrictions for Compensation and Benefits
Before you can hire employees, pay them, and offer a Macedonia benefit management plan, you have to incorporate. However, it can take a significant amount of time to decipher Macedonia’s compensation laws, learn complicated tax laws, and continue to run your parent company.
Instead, Globalization Partners can manage the risk while you run your business. Our Macedonia compensation and benefit outsourcing services will help source competitive benefits, pay employees the right amount, and take the risk of compliance off your shoulders and onto our own. You won’t have to establish a subsidiary either, as we can use our existing entity to help you expand faster.
Partner With Globalization Partners
Globalization Partners has an entire team of experts ready to make your expansion easier. Contact us today to learn more about Macedonia benefits and compensation outsourcing.