Managing compensation requirements and ensuring that your employees receive competitive benefits for local market standards is essential. When you’re establishing a business internationally, you need options that will optimize your processes and ensure you’ll be able to seamlessly your responsibilities and compliance requirements as an employer.
At Globalization Partners, we offer North Macedonia compensation outsourcing services so you can focus on doing business. Discover how we can make benefits management and distribution simpler for you.
You are required to provide the minimum wage for your employees, which is MKD14,500.00.
Each payment must be on time at daily, weekly, fortnightly, or monthly intervals. You are required to set specified payment days at the office during working hours, and you must consistently provide payments at that time.
In addition to regular wages, you may provide your employees with non-monetary benefits that are of personal help to them and their families. If your employee requires specific tools, clothing, or other equipment for the job, you may finance their purchase and deduct the cost from the next paycheck if you have your employee’s written consent.
Your employees are entitled to 20 days of annual vacation leave with pay equivalent to their average wages over the past 12 months. Based on a collective agreement or contract, employees may receive up to 26 days of leave.
Employees may use the remainder of their vacation days in the following year if they do so before June 30.
Depending on their situation, employees may take varying amounts of sick leave:
- Seventy percent of regular salary for seven days of sick leave
- Eighty percent of regular salary for up to 15 days of sick leave
- Ninety percent of regular salary for more than 15 days of sick leave
Additional sick leave of up to 30 days may be available if an employee is physically unable to return to work. Employees must provide a physician’s attestation of illness for sick leave of up to seven days. For additional leave, you may form a medical commission with the doctor of your choice to verify the employees’ condition.
Female employees may receive up to nine months of maternity leave with pay.
Benefits Management and Dispersion
Providing supplemental benefits is an excellent way to ensure your employees’ needs are met. For example, your company might offer stipends for relocation, travel, and other requirements employees may need.
Some additional benefits you can provide include:
- A company car
- Additional professional training
- A mobile phone for work
- Private health insurance if needed
- Performance awards
- Meal vouchers
When you’re creating a benefits package, you must balance market standards and competitive benefits for your employees with your company’s budget limitations. Finding a successful approach that works with your financial requirements and offers attractive employment advantages is critical.
Globalization Partners can help you develop competitive, attractive benefits packages for your local employees. Our team has in-depth knowledge of local laws and market standards. We’ll use that expertise to ensure you comply with the necessary regulations while seamlessly addressing Holy See benefits management requirements. With our comprehensive compensation outsourcing services, we’ll assemble benefits packages that fit local professionals’ needs and expectations.
Restrictions for Benefits and Compensation
Because North Macedonia compensation laws set a minimum standard for employment conditions, there are not other specific restrictions in place. Any restrictions on benefits or compensation will be outlined in the labor code of the country.
Optimize Your Business Expansion With Globalization Partners
Are you interested in learning more about how we can work with your business and help you expand in North Macedonia? To get more information, reach out to our team today.