Montenegro Compensation & Benefits
When you’re interviewing candidates for your job openings in Montenegro, they will most likely ask what the position pays and what benefits your company offers. Meeting Montenegro’s compensation laws and providing a strong Montenegro benefits plan will ensure that you get talented candidates who will keep working for you for years to come.
However, providing compensation and benefits on your own means you have to find the time to research all of the country’s laws while setting up a subsidiary, hiring employees, establishing a payroll, and more. Fortunately, Globalization Partners makes it easier to expand using Montenegro compensation and benefits outsourcing.
Montenegro Compensation Laws
Since June 2019, Montenegro’s minimum wage has remained fixed at 331.3 EUR a month. The country raised its minimum wage by 43.2 EUR from 2018, so watch for any changes to Montenegro’s compensation laws in 2020. Employees usually work 40 hours a week and should receive additional compensation for any hours worked over 40.
Guaranteed Benefits for All Employees
One of the guaranteed benefits employees care about most is paid time off. Montenegro has eight national holidays, many of which are multi-day celebrations. Employees should get time off for all of those holidays. They should also receive 21 days of paid annual leave, and an additional seven under the following circumstances:
- Professional exam
- Death of an immediate family member
Female employees also care about maternity leave. Montenegro stipulates that female workers get 365 days of maternity leave that they can take up to 45 days but no later than 28 days before the birth. She must wait at least 45 days after the birth to come back to work. After the birth, either parent is allowed to work half time until the child turns three or take unpaid leave and receive job protection.
How to Disperse Benefits to Employees
Employees may expect to receive more benefits than the statutory minimums. Some of the common supplemental benefits employers disperse include supplementary health insurance, meal allowance, and a transportation allowance. Although Montenegro has a universal health insurance policy, private clinics offer additional health insurance and dental care. You can also choose to provide a 13th-month or performance-based bonus and include stipulations in an employment contract.
Restrictions for Benefits and Compensation in This Country
Companies expanding to Montenegro often want to start working in the country right away. However, you need a registered subsidiary to hire employees, give them benefits and compensation, and work legally. Depending on where you are and what kind of entity you choose, the incorporation process could take up to a couple of months.
Globalization Partners shortens the process through Montenegro compensation and benefits outsourcing. We will add your employees to our payroll to ensure they get paid according to Montenegro’s compensation laws. Then, we’ll handle all the risks of compliance by acting as the Employer of Record.
Globalization Partners Can Help
If you’re not sure where to begin with your expansion, Globalization Partners can make it easier. Contact us today for more information about Montenegro benefits and compensation outsourcing.