Growing into the Republic of North Macedonia is a great way to expand your business and tap into a diverse talent pool. Amid the excitement, you still have to develop a hiring strategy, add employees to your payroll, and provide a competitive Republic of North Macedonia compensation and benefits plan that will keep your team happy.
Instead of incorporating in the Republic of North Macedonia, G-P has an alternative. We’ll act as the Employer of Record (EOR) to help you start working quickly and compliantly, without setting up new entities.
The Republic of North Macedonia compensation laws
As of April 2023, the Republic of North Macedonia’s compensation laws included a countrywide minimum wage of MKD 20,175 a month. Your employment contract should include this minimum wage, or any other wages outlined by a trade union or Collective Bargaining Agreement (CBA). If your industry has a CBA, you need to follow those Republic of North Macedonia compensation laws to ensure compliance.
Guaranteed benefits in the Republic of North Macedonia
The Republic of North Macedonia has several national holidays each year for which employees should get the day off. All employees are entitled to 20 to 26 days of paid annual leave with an additional 7 days for marriage, bereavement, or professional exams.
Expecting employees are entitled to 9 months of paid maternity leave, extendable to 15 months for multiple births. If the mother cannot take the leave, the father can use it. If the mother takes the leave, then the father is entitled to up to 7 days of paid leave for family events.
Health insurance is another guaranteed benefit, as the Republic of North Macedonia offers public healthcare through the Health Insurance Fund. This fund covers most preventive care, examinations, and treatments for employees.
The Republic of North Macedonia benefits management
When you’re ready to disperse your Republic of North Macedonia benefits management plan, you should also take some time to add supplemental benefits that employees may expect. For example, many employers choose to provide annual bonuses based on a rate outlined in an employment contract. Other employers in the country may offer supplemental insurance that covers private healthcare or a stipend that allows employees to choose their own plan.
Restrictions for benefits and compensation
Before you can hire employees, pay them, and offer a Republic of North Macedonia benefits plan, you have to incorporate in the country. However, it can take a significant amount of time to decipher the Republic of North Macedonia’s compensation laws, learn complicated tax laws, and continue to run your parent company.
Instead, G-P can streamline the process. We can help you source competitive benefits, pay employees the right amount, and manage compliance every step of the way. As a global EOR, you won’t have to establish a subsidiary either, which will enable you to expand faster.
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.