There has to be a justification for prospective work seekers to go from being potential hires to official employees. Often, wages and incentives are those factors. You will stand out from the market and promote higher retention rates for workers if the business can offer an outstanding degree of pay and benefits.

Many enterprises do not, however, know the compensation rules or regulatory benefit criteria of Malta. That's why, as part of our approach, AtoZ Serwis Plus Malta provides Malta benefits and outsourcing of compensation. We will use our Malta PEO to provide your workers with the compensation and rewards they deserve when complying with them.

Malta Compensation Laws

In 2019, Malta recently increased the minimum wage by Euros 14.5 per month. Employees must now gain Euros 9,144 a year, or Euros 762 a month. Employers must pay workers at a Maltese bank in cash or a check they will cash. Usually, staff and managers negotiate on the wage payout cycle, whether it be weekly, bi-weekly or monthly.

Benefits That You Must Provide

You need to make sure that you have all the statutory benefits specified first until you start setting up your Malta benefits management package. Both workers working 40 hours a week need to get 192 hours of regular pay vacation, about four weeks of paid time off, plus four working days. Malta also offers sick leave for particular industries according to the applicable Pay Control Order. Employees usually earn two working weeks of sick days each year, as long as a medical credential is issued from the employer.

One interesting feature of Malta's insurance legislation is that once the child turns eight, all male and female staff will get accrued paternity leave for four months for a child's birth, adoption, foster child, or lawful custody. However, for qualifications, all workers need to work for the company for at least a year.

Dispersing a Malta Benefits Management Plan

You should have industry standard compensation that employers can receive in addition to the benefits required by legislation. Try to hand away performance-based incentives, a private health care package, or other type of retirement compensation, for example. Look at what the industry's other employers have, and also question workers what perks they would most enjoy.

Restrictions for Compensation and Benefits

Companies will not extend to Malta and suddenly continue operating. To recruit workers and give them wages and benefits, they need a licenced subsidiary in the region. Your company would, however, have to spend months attempting to set up a subsidiary, which will hinder the ability to operate in the region.

With branches in countries around the world, AtoZ Serwis Plus Malta is a multinational PEO. You can use our Malta subsidiary for your expansion when you partner with us, instead of trying to set up your own. Choosing Malta benefits and contracting payments with us means that you will not have to think about the compensation rules of Malta or build your own benefits management package for Malta.

Work With AtoZ Serwis Plus Malta Today

For a swift expansion, add your workers to our payroll and pension package now. To hear more about Malta's outsourcing of payments and benefits, contact us today.