Seychelles Compensation & Benefits
Providing the right level of compensation and benefits is a vital part of an expansion for both your company and your employees. Your Seychelles benefit management plan must include statutory benefits required by law, plus additional benefits that will encourage employees to stay with the company. Employers also have to follow Seychelles compensation laws to stay compliant and avoid hefty fines and delays.
Globalization Partners can help you expand without the stress of compliance. We’ll use Seychelles benefit and compensation outsourcing services to handle this complicated aspect of your expansion. We’ll also source the best benefits for your employees and make sure they get paid the right amount at the right time.
Seychelles Compensation Laws
Seychelles has two different minimum wage levels depending on the type of worker. Casual workers make SR 30.78 an hour, and all other employees should make at least SR 26.70 an hour. The minimum wage last changed in 2014, so you should watch for any updates that could impact what you pay employees.
Guaranteed Benefits to Provide
Employees in Seychelles must receive statutory benefits required by law. You can start your Seychelles benefit management plan by providing time off for the country’s 12 paid holidays and 21 days of paid annual leave. Employees typically accrue about 1.75 days of time off per month that they work.
Your female employees should receive 14 weeks of paid maternity leave with the option to take another 12 weeks of unpaid leave before or after the paid leave. These employees cannot return to work until they finish out their paid leave. Additionally, all employees are entitled to 30 days of paid sick leave each year and 90 days in the case of hospitalization.
Dispersing Your Seychelles Benefit Management Plan
When you’re ready to give out benefits in Seychelles, it’s a good idea to also disperse additional benefits that will encourage greater retention rates. For example, many employees expect to get an annual bonus, though it’s not yet required by law. Seychelles offers free universal healthcare, but private healthcare services are also available. You may choose to offer private healthcare as an additional benefit to employees or provide a stipend for employees to source their own plan.
Compensation and Benefits Restrictions
The biggest restriction for compensation and benefits is incorporation. If you don’t work with a global PEO such as Globalization Partners, you’ll need to establish your own subsidiary before you can hire employees and give out compensation and benefits. Instead, we offer Seychelles compensation and benefit outsourcing through our existing subsidiary. When you work with us, you won’t have to spend time and money setting up your subsidiary. We’ll hire talented employees for you, add them to our compliant payroll, and make sure you stay compliant throughout the process.
Contact Globalization Partners for More Information
Globalization Partners has the team of experts you need to make your expansion as smooth and seamless as possible. Contact us today to learn more about Seychelles compensation and benefits outsourcing for your company.