A vital part of managing your employees is providing compensation and benefits. When you expand overseas, you'll need to consider a new set of minimum wage and employment laws you may not be...
Read MoreA vital part of managing your employees is providing compensation and benefits. When you expand overseas, you'll need to consider a new set of minimum wage and employment laws you may not be familiar with. Globalization Partners offers benefits and compensation outsourcing services to ensure you provide the required minimums in any country you expand to.
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A vital part of managing your employees is providing compensation and benefits. When you expand overseas, you’ll need to consider a new set of minimum wage and employment laws you may not be familiar with. Globalization Partners offers benefits and compensation outsourcing services to ensure you provide the required minimums in any country you expand to.
Grenada’s minimum wage laws depend on the industry a job falls under. Wages Advisory Committees for every sector examine the jobs and assess the difficulties and dangers of certain positions to determine a decent minimum wage. Wages are different for every job — some amounts are daily and others are hourly, weekly, or monthly.
For example, wrappers and packers in bakeries must make at least 170 Eastern Caribbean dollars (EC$) a week. Agricultural workers must make at least EC$6.50 an hour. The Minimum Wages Order of 2011 was the last official order to declare these wages, but they are subject to change under the Wages Advisory Committees’ discretion.
Hourly, daily, and weekly workers should receive payment at biweekly or more frequent intervals. Monthly or yearly workers should not earn pay at an interval less frequent than monthly.
As with required wages, all employees are entitled to a series of benefits. These provisions include time off for public holidays, vacation leave, paid time off for sickness, and maternity leave.
All employees should receive time off during public holidays and earn wages those days if they work the day before and after. Workers earn two weeks of paid vacation time during their first year of service and receive three weeks for subsequent years.
If an employee presents a medical certificate, you must pay for sick days. If sick leave lasts for four days or longer, the National Insurance Scheme (NIS) will cover wages. Maternity leave is three months for pregnant employees, and they can choose to split this leave before and after delivery.
Employment laws require baseline benefits for every employee, but you can always go beyond the minimum requirements. Providing more than the law requires can incentivize your employees and make your company competitive in the job market. When applicants see how much you are willing to provide, they’re more likely to work for you and put in their best effort.
There are many additional benefits you may choose to include in your employment contracts, such as:
Benefits management is valuable to your company’s success, but it can be challenging to handle correctly. Your company needs to provide enough benefits to support your team without overextending your resources.
At Globalization Partners, we offer benefits packages that scale with your company. Every tier includes the minimum requirements outlined in the country’s laws, and you can choose more or fewer additional perks based on your financial abilities. As your company grows, you can add more benefits while remaining compliant.
The Employment Act of 1999 and the Minimum Wages Order of 2011 outline all benefits and compensation requirements and restrictions. These regulations are subject to change at any point, so you must be aware of these changing laws.
With Grenada compensation outsourcing, you can provide for your employees without overextending your finances. Work with Globalization Partners to stay compliant and offer competitive benefits packages to your team. Get in touch with us today to learn more about our outsourcing services and how we can make your global expansion successful.
If you’re ready to grow your business, or you have questions about a specific country, complete the form. One of our experts will be in touch shortly.
