When you think about all the things you loved about your first real job, compensation and benefits probably rank high. Your employees care about the same thing, which is why you need a competitive Moldova benefits management plan that sets your company apart from others in the industry. Plus, meeting or exceeding Moldova’s compensation laws will ensure that you stay compliant.
Globalization Partners can help you source the right compensation and benefits and make sure you stay compliant. Our suite of global expansion services is designed to manage the risk so that you can manage your business. Through Moldova compensation and benefits outsourcing, we can ensure your employees get the best.
Moldova Compensation Laws
Moldova’s minimum wage varies based on the type of employee. Private sector workers get 1,900 Moldovan lei a month, and public sector employees make 1,000 lei a month. The minimum wage last changed in 2015, so you should watch for any changes to the law that could impact employees.
Guaranteed Benefits for All Employees
You need to make sure all employees receive guaranteed benefits required by law if you want to stay compliant. Your Moldova benefits management should include time off for the country’s 11 holidays as well as 28 calendar days of paid annual leave. Moldova also has a generous maternity leave policy that includes 70 calendar days before the birth and 56 calendar days after. Employees also receive:
- Partially paid holidays until the child turns three
- Four additional days of paid annual leave for female employees with two or more children under 14
- Unpaid vacation of 14 calendar days for female employees with two or more children under 14 and single parents with at least one child under 14
- Partially paid holidays for fathers, grandparents, and other relatives until a child turns three
How to Disperse Benefits in Moldova
Giving out more than just statutory benefits can help you encourage higher retention rates and bring in a higher level of talent. For example, employees typically get a holiday allowance corresponding to the wages they would get paid for the duration of their time off. This pay is due at least three days before the employee takes their vacation. Annual and performance-based bonuses aren’t required by law, but they are common.
Restrictions for Benefits and Compensation
Employers can run into trouble if they try to provide benefits and compensation before establishing a subsidiary in the country. The incorporation process can take a significant amount of time, money, and effort. However, you won’t have this restriction when you work with Globalization Partners. We’ll use our existing subsidiary to help you start working faster, so you can hire employees, onboard them, and pay them in just a day or two. Our Moldova benefits and compensation outsourcing services will ensure you stay compliant and give employees what they deserve.
Why Choose Globalization Partners?
Globalization Partners can make a significant difference in your global expansion. Contact us today for more information about Moldova compensation and benefits outsourcing.