Senegal Compensation & Benefits
Providing the right compensation and benefits to your new employees is a great way to start a strong employment relationship and encourage higher retention rates. However, you need to learn Senegal’s compensation laws, come up with a Senegal benefit management plan, and continue to run the rest of your company. Globalization Partners can make the process easier with our Senegal benefit outsourcing services. We act as the Employer of Record and take on all matters of compliance, compensation, and benefits.
Senegal Compensation Laws
Senegal has a national minimum wage you need to meet to comply with the country’s compensation laws. General workers must get at least 209.10 CFA francs per hour, while agricultural workers need to receive at least 182.95 CFA francs per hour. The last time Senegal changed the minimum wage was 1996, so keep in mind these rates could change in the future.
Collective bargaining agreements (CBAs) could also affect Senegal compensation laws. While not very common, some CBAs outline the minimum wage for other industries. Always check if your employees are covered under a CBA.
Guaranteed Benefits in Senegal
Your Senegal benefit management plan must include certain guaranteed benefits required by law. For example, your employees are entitled to time off for the country’s 14 national holidays. Most employees are also entitled to 24 days of paid annual leave, and a minimum of five paid sick days each year.
Although private health insurance is available, employers must enroll all employees in the Institut de Prévoyance Maladie (IPM) health fund. This fund covers 40-80% of an employee’s medical, pharmaceutical, and hospital costs. As an employer, you must give employees a hospital allowance that covers any hospitalization costs, which the employee pays back.
How to Disperse Your Senegal Benefit Management Plan
You should include some additional benefits in your Senegal benefit management plan you dole out to employees. Many Senegal employers choose to give out performance-based, annual, and 13th-month bonuses throughout the year. You should include information about these bonuses in an employment contract that employees sign before they begin working for your company.
If you’re not sure what supplemental benefits to offer, try talking with other Senegal employers. You can also poll employees to see what benefits mean the most to them.
Restrictions for Benefits and Compensation
The biggest restriction for Senegal benefits and compensation is incorporation. You must establish a subsidiary before you can hire employees and give out benefits and compensation. Globalization Partners takes this step out of the equation through our Senegal compensation outsourcing services. We have subsidiaries all around the world to help you start working in a new country faster. You won’t have to set up a subsidiary or worry about staying compliant with Senegal’s benefit and compensation laws.
Globalization Partners Can Help
Our goal at Globalization Partners is to help make your expansion quicker and easier. Contact us today to learn more about our Senegal compensation and benefit outsourcing services.