Compensation and benefits are important to attract and retain top talent. Meeting or exceeding Serbia’s compensation laws will help you attain greater retention rates and give you a leg up over the competition. If your Serbia benefits management plan provides the statutory minimum, you can feel confident about staying compliant and provide supplemental benefits to make your open positions more attractive.
When you partner with G-P, you don’t have to worry about complicated Serbia compensation laws and hiring regulations. Our Employer of Record (EOR) solutions allow you to compliantly hire team members starting in just minutes, without setting up an entity.
Serbia compensation laws
The country’s laws do not require bonuses, but all Serbian citizens are entitled to a 0.4% pay raise for each year they work. Employees can work overtime per a reasonable request by the employer. However, that work can’t exceed 8 hours a week and 4 hours a day. Employees should receive at least a 26% increase in their basic salary for overtime work.
Guaranteed benefits in Serbia
Serbia benefits management plans must include guaranteed benefits required by law. This includes at least 9 days off for the country’s 7 holidays and a minimum of 20 days of paid vacation each year. Serbia also has a unique sick leave policy where employees can get 100% of pay for up to 30 days if the illness is due to a job injury. If the injury or illness was not from the job, the employee gets 65% of their salary.
Maternity and paternity leave are 2 other guaranteed benefits in Serbia. Pregnant employees get up to 1 full year of paid time off for their first 2 children, and 2 years for their third and fourth. Fathers get 7 days of paternity leave.
Serbia benefits management
Some benefits are not required by law but can leave a positive impression on employees. For example, Serbia compensation laws do not require a bonus, but most employers build a performance-based bonus into the employee’s salary. Many employees also value private healthcare, so employers often provide a plan or a stipend.
Restrictions for benefits and compensation
Before crafting a benefits management plan, companies must set up a subsidiary in the country. However, it can take weeks or months to learn all of Serbia’s employment laws and incorporate fully. During that time, employers cannot hire or give out compensation and benefits.
Instead, you can work with G-P. With us, you don’t have to go through the lengthy subsidiary setup process, as you can leverage our global entity infrastructure to start hiring in minutes.
Partner with G-P to build your everywhere workforce.
As your partner in global expansion, G-P will handle payroll and compliance, so you can focus on growing your team and scaling your business. Our market-leading global employment platform is powered by the first fully customizable suite of global employment products and backed by the industry’s largest team of in-country HR and legal experts to streamline payroll management and help you offer competitive, compliant local benefits.
Learn more about our platform and request a proposal today.