Mali Compensation & BenefitsReading Time: 2 minutes
Sourcing compensation and benefits in Mali is key to both compliance and employee happiness. Attracting the right candidates in Mali requires a robust compensation and benefits plan that meets Mali’s compensation laws and benefits requirements. Once you meet the statutory requirements, you should provide additional benefits to retain employees and show them you care about their hard work.
Globalization Partners makes compensation and benefits management easier by allowing you to use our existing payroll and Mali benefits management plan. You won’t have to worry about compliance, spending too much time sourcing compensation and benefits, or providing the best for your employees — you can trust Globalization Partners instead.
Mali Compensation Laws
Mali’s compensation laws include a minimum wage and mandatory benefits package. The minimum wage of 28,465 CFA francs a month last changed in 2014. In addition to this minimum wage, you must ensure that all employees receive social security and health care packages. Keep in mind that any type of trade union or collective bargaining agreement (CBA) could change these laws, but they’re not extremely common in the country.
Statutory Benefits That You Must Provide in Your Mali Benefits Management Plan
You must provide statutory benefits according to Mali’s compensation and benefits laws. Start your Mali benefits management plan with time off for 10 public holidays and two and a half days a month for annual leave. Employees should end up with a total of 30 calendar days a year, including working days and weekends. Employees should get additional vacation time after they hit 15, 20, and 25 years of full-time service with your company, respectively.
Parental leave is also important for employees in Mali and other countries. Female employees should get 14 weeks of unpaid maternity leave if they’ve worked at least nine months with your company — six weeks before the birth and eight after. If there are any medical complications, the employee may take another three weeks of maternity leave with continued salary payments through the INPS instead of the employer.
Dispersing All Forms of Benefits
There are many market norm benefits not required by law but expected by employees. You can provide these supplemental benefits as a part of your Mali benefits management plan to ensure employees get the benefits they deserve. For example, consider giving out bonuses, additional paid time off, paternity leave, private health care, and similar perks. When you’re not sure what to provide, try to poll employees to see what benefits they care about the most.
Benefits and Compensation Restrictions
Your company cannot legally provide compensation and benefits until you have a subsidiary in Mali. While you’re waiting weeks or months to fully incorporate, you won’t be able to hire or create a compensation and benefits plan. Fortunately, you have access to an easier option through Mali benefits and compensation outsourcing with Globalization Partners. We’ll use our Mali subsidiary to help your company start working fast. Instead of worrying about your own subsidiary, you can use ours and let us handle compliance.
Why Choose Our Team?
You can trust our team to help you expand fast without any restrictions. Contact us today to learn about Mali compensation and benefits outsourcing with our team.