Providing the appropriate level of compensation and developing a competitive Burkina Faso benefits management plan can help your company stand out as well as encourage high retention rates.
G-P also understands the importance of compensation and benefits. As a global Employer of Record (EOR), you won’t have to incorporate in Burkina Faso to start hiring. With us, you can run your company knowing employees will receive the right compensation and benefits.
Burkina Faso compensation laws
Burkina Faso’s compensation laws include a minimum wage of CFA 34,664 a month for formal sector employees. Employers will need to meet this minimum wage or separate compensation guidelines outlined in any applicable Collective Bargaining Agreement (CBA).
Guaranteed benefits in Burkina Faso
Employees must receive all statutory benefits, including paid time off for the country’s national holidays and at least 22 days of paid annual leave. That said, a CBA could have other regulations related to time off that your company will need to follow to stay compliant.
Maternity leave is another guaranteed benefit that all employers must provide. Expecting employees should receive 14 weeks of paid maternity leave that both companies and social security pay for. Non-birthing employees generally get 20 days of leave that they can use for any home life events.
Burkina Faso benefits management
Once you include statutory benefits to your plan, you will then need to determine which supplemental offerings you will offer. Providing additional benefits as part of your Burkina Faso benefits management plan is a great way to show employees how valuable they are to your company. Check to see what benefits other companies in your industry are providing, and also work with employees to see what rewards would mean the most. Options include performance-based bonuses, a stipend for healthcare, etc.
Restrictions for benefits and compensation
Companies cannot provide benefits and compensation in Burkina Faso until incorporating. However, setting up a subsidiary from start to finish can take several months as you’ll have to learn complicated tax laws before you can hire employees.
G-P can change the timeline from a few months to a few days. As a global EOR, we’ll make your expansion fast and simple, and our experts will make sure you’re staying compliant every step of the way.
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 Growth 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.