Grenada EOR & PEO

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Hire in Grenada

Hiring in Grenada can be a great move for businesses that are looking to grow. This Caribbean island nation has a population of about 126,000 people and a literacy rate of approximately 99%, which means it is a country made up of a well-educated workforce. Grenada’s economy is mainly driven by tourism, but is also well known for their agriculture, especially in their export of spices such as nutmeg.

The government has created a friendly environment for new businesses that are looking to enter into the country. According to recent reports, Grenada is becoming an attractive destination for investment due to its stable political climate and newly implemented supportive economic policies.

When hiring in Grenada, it’s important to understand the local labor market and legal requirements. This is where an Employer of Record (EOR) can help. An EOR handles the administrative and legal areas of employment, making it easier for you to focus on finding the right talent. They ensure compliance with local laws and regulations, so you can hire quickly without any of the usual hassles.

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hire employees in Grenada

What Is a Grenada EOR?

A Grenada Employer of Record is a third-party company that handles the legal and administrative responsibilities of hiring workers in Grenada on behalf of your business. This means the EOR takes care of payroll, taxes, benefits, and compliance with local labor laws. They become the official employer for your workers, while you retain control over their daily tasks and direction. This setup allows you to hire local talent without needing to set up a legal entity in Grenada, making the process smooth and hassle-free.

It is important to note that the terms “Employer of Record” and “Professional Employer Organization” (PEO) are often used interchangeably and mean the same thing. Both refer to companies that manage HR tasks for other businesses. By using an EOR or PEO, you can focus on your main business activities while they handle the complexities of local employment laws and regulations. This makes expanding your team in Grenada a much easier process.

Save Money And Time with A Grenada EOR

What Are the Benefits of a Grenada EOR?

Using a Grenada Employer of Record offers many different benefits such as:

Legal compliance made easy: A Grenada EOR ensures that your business complies with all local labor laws and regulations. They manage all the legal details, including contracts, payroll, and taxes. This means you don’t have to worry about keeping up with changing laws or facing potential fines. The EOR handles it all, keeping your operations legal and running smoothly.
Quick and easy hiring: With an EOR, you can quickly hire local talent without the need to set up a local entity. The EOR takes care of the administrative paperwork and the legal formalities, allowing you to focus on finding the right people for your team. This speeds up the hiring process and helps you get your business up and running faster.
Hassle-free payroll management: An EOR handles the payroll, ensuring your employees are paid accurately and on time. They handle all the calculations, tax withholdings, and make sure you are in compliance with local tax laws. This takes the burden off your shoulders, so you can concentrate on growing your business.
Benefits administration: The EOR also takes care of all employee benefits, such as health insurance and retirement plans. They handle the enrollment process, manage contributions, and ensure that employees receive their benefits. This helps you attract and hold onto the top talent by offering competitive benefits packages.
Reduced risk: By using an EOR, you reduce your business’s risk. The EOR assumes many of the liabilities associated with employment, such as compliance with labor laws and handling disputes. This protects your business from any potential legal issues or fines.
Focus on core activities: Outsourcing HR and administrative tasks to an EOR allows you to focus on your main business activities. You can spend more time on strategic planning, customer service, and other important areas, knowing that the EOR is handling the tedious employment details.

Horizons is Best IN Class

Why Choose Horizons?

Horizons stands out as a Grenada EOR through:

A strong regional presence in North America, meaning senior management are on the ground to deal with any issues.
Client-focused infrastructure. Horizons won’t oversell you on products and services you don’t need. Horizons offers the easiest platform to compliantly hire and pay people worldwide.
Cost-effective solutions. At $499 per employee, per month, no EOR in Grenada is more affordable. The cost is 100% transparent (onboarding, offboarding, deposit, no extra charges).
A customer-first culture. Horizons is an efficient bootstrapped company. It is not an externally-funded company burning investor cash to aggressively acquire new clients. Horizons is the only EOR that grows with its customer, reflecting the level of care and personal attention provided to each customer. Horizons will carefully advise on the best setup in each country: the type of contract needed, how to structure your benefits, and how to offboard a person while minimizing the risk of conflicts and extra cost
A long-term partnership. Horizons is the only EOR platform with a recruitment arm — a direct response to client demand. If any employee is leaving, or if our clients want to explore a new country, Horizons can recruit new candidates directly for the client. Horizons is:
- The only EOR doing this in-house — no subcontracting
- The only EOR doing this without a retainer — clients are only charged upon success
- The only EOR charging just a 2% fee per month.

Step-by-step Grenada EOR

How Does a Grenada EOR Work?

Hire your employees: A Grenada Employer of Record makes the hiring process simple. You find the right talent for your business, and the EOR handles all the legal details. They officially employ the workers on paper, but your employees work directly for you. This setup allows you to quickly bring on new team members without having to set up a local business.
Manage employment contracts and onboarding: The EOR takes care of drafting and managing employment contracts to ensure they meet local laws. They handle all the paperwork, making sure everything is legally compliant.Plus, the EOR manages the onboarding process and ensures new employees have all the necessary documents and understand their roles.
Process payroll and handle employment taxes: The EOR handles payroll, making sure your employees get paid correctly and on time. They take care of salary calculations, tax withholdings, and any other deductions. By managing these tasks, the EOR ensures compliance with local tax laws, so you don’t have to worry about it. This service includes managing contributions to social security and other mandatory benefits in Grenada.
Administer benefits: The EOR manages employee benefits like health insurance and retirement plans. They handle the enrollment process, manage contributions, and ensure employees receive their benefits. This service makes it easier for you to offer attractive benefits packages that help you keep your team happy and motivated to work harder for you. The EOR also deals with any benefit-related questions or issues that may come up.
Take care of exit procedures: When an employee leaves, the EOR handles the entire exit process. This includes all necessary paperwork and ensuring compliance with local laws regarding termination and severance. The EOR processes final paychecks, manages notice periods, and handles severance pay if needed. They also ensure that all company property is returned and that any post-employment obligations are clear to the employees.

stay compliant with Grenada labor laws

Labor Laws

One of the principal reasons for engaging an EOR in Grenada is to ensure full compliance with Grenada’s employment laws. Here we explain in detail how a Grenada EOR ensures:

Compliance with Grenada employment contract requirements
Compliance with working hours, national holiday provisions, and Grenada social security requirements.

Employment contract types

In Grenada, employment contracts usually come in two main types: permanent and fixed-term. Permanent contracts are for ongoing roles with no set end date, and usually provide stability and long-term benefits like health insurance and retirement plans. Fixed-term contracts are for specific durations or projects, and clearly outline the length of the employment period. These contracts are useful for seasonal work or special projects and may not offer the same benefits as permanent ones. Both types of contracts must comply with local labor laws to properly protect the rights of both the employer and the employee.

Project-based

Fixed-term

Indefinite

Working hours in Grenada

Standard working hours in Grenada are typically 40 hours per week for full-time employees, usually spread over five days. Most businesses operate from Monday to Friday, with each workday usually lasting eight hours. Employees are entitled to a one-hour lunch break. Employers must ensure that employees do not exceed the maximum working hours, including overtime, which should be compensated at a higher rate, usually 1.5 times the regular hourly wage. Also, in most situations employees must have at least one full day off each week.

Overtime must be compensated in the following way:

Holiday Schedule in Grenada [2024]

In 2024, Grenada will observe several public holidays. In most cases, employees are entitled to these days off with pay. If they work on a public holiday, they must be compensated at a higher rate, usually double their regular pay.

Date	Holiday name
1 Jan, 2024	New Year’s Day
7 Feb, 2024	Independence Day
29 Mar, 2024	Good Friday
1 Apr, 2024	Easter Monday
1 May, 2024	Labour Day
20 May, 2024	Whit Monday
30 May, 2024	Corpus Christi
5 Aug, 2024	Emancipation Day
11 Aug to 12 Aug	Carnival
19 Oct, 2024	National Heroes Day
25 Oct, 2024	Thanksgiving Day
25 Dec, 2024	Christmas Day
26 Dec, 2024	Boxing Day

Paid time off

Employees in Grenada are entitled to paid time off, which includes vacation leave and public holidays. Full-time employees typically earn a minimum of 14 days of paid vacation per year after completing one year of service. PTO policies should be clearly outlined in the employment contract, explaining how leave is accrued and the process for requesting time off.

Sick leave in Grenada

Sick leave in Grenada allows employees to take time off when they are ill without losing pay. Full-time employees are usually entitled to at least 14 days of paid sick leave per year. To qualify for paid sick leave, employees typically need to provide a medical certificate if they are absent for more than two consecutive days.

Less than 6 months of sick leave:

(percentage of regular wages owed to the employee)

Over 6 months of sick leave

In order for employees to receive the full wages due to them, workers must present a valid medical certificate from a certified doctor to their employer.

Maternity leave in Grenada

Female employees are entitled to 14 weeks of maternity leave. During maternity leave, employees are usually paid at least 50% of their regular salary. This is subject to the provisions of the employment contract and any applicable collective agreements.

Fathers are typically entitled to 5 days of paternity leave around the time of the birth of the child. This is intended to support the mother and bond with the newborn.

Annual leave in Grenada

Annual leave gives employees in Grenada time off away from work responsibilities. Full-time employees are entitled to a minimum of 14 days of paid annual leave each year after completing one year of service. Employers can choose to offer more, but 14 days is the legal minimum. Annual leave should be scheduled in advance and mutually agreed upon by both the employer and employee. Some companies may allow unused leave to be carried over to the following year, depending on their policies.

Termination & severance in Grenada

Termination of employment in Grenada must follow local labor laws to ensure complete fairness. Employers must provide notice or payment in lieu of notice, with the notice period depending on the employee’s length of service. For employees with less than one year of service, the notice period is almost always one week. For anyone with longer service, the notice period increases. Severance pay is required for employees terminated without cause, generally amounting to one week’s pay for each year of service. Employers must also provide a written reason for the termination and follow due process to ensure fairness.

Grenada's compulsory social security contributions

Social security is essential for funding various social benefits, including pensions, sickness benefits, and other welfare programs. The total contribution to the NIS amounts to 10% of an employee’s gross salary.

Grenada social security for foreigners

Foreign workers are required to contribute to the NIS just like local employees. They must pay 5% of their gross salary.

Foreign workers who contribute to the NIS are eligible for the same benefits as Grenadian workers, including pensions, sickness benefits, maternity benefits, and invalidity benefits, provided they meet the required contribution periods and eligibility criteria.

Individual income tax

The income tax system is straightforward and applies to both residents and non-residents. Income up to EC$ 24,000 are taxed at 10% and anything over is taxed at 30%.

Both residents and non-residents are subject to income tax on income earned within Grenada. Non-residents are taxed only on their Grenadian-source income.

Health insurance

Grenada provides universal health care through public health facilities. This means that basic health services, including hospital visits, surgeries, and general medical care, are available to all residents. Several local and international insurance companies offer private health insurance plans in Grenada. These plans may cover additional services such as private hospital rooms, elective procedures, and enhanced medical care.

hassle-free Grenadian compensation & benefits

Compensation & Benefits

Grenada compensation laws

In Grenada, compensation laws ensure that employees receive fair pay for their work. The minimum wage is currently set at no less than EC$1,200 per month of EC$60 per day. Employers are required to pay wages on a regular basis, typically bi-weekly or monthly. Overtime work must be compensated at a higher rate, usually 1.5 times the regular hourly wage. There are also very strict laws against wage discrimination, ensuring that employees receive equal pay for equal work regardless of their gender or any other factors.

13 month salary in Grenada

Unlike some other countries, Grenada does not commonly practice the 13th month salary. Instead, employers may offer performance bonuses or other incentives based on the company’s policies. These bonuses are usually tied to the employee’s performance or the company’s profitability. While not mandatory, offering bonuses can be a great way to motivate employees and reward them for their hard work.

Social security for Grenadian nationals

In Grenada, social security contributions are mandatory for both employers and employees. These contributions are managed by the National Insurance Scheme (NIS) and provide a great deal of benefits, including pensions, unemployment insurance, and health care. Employers contribute a percentage of the employee’s salary to the NIS, while employees also contribute a portion of their wages. The percentage of contributions will gradually increase each year until it reaches 16% in 2031.

Grenada Employer Of Record Peo

Navigation

Hire in Grenada

What Is a Grenada EOR?

What Are the Benefits of a Grenada EOR?

Why Choose Horizons?

How Does a Grenada EOR Work?

Labor Laws

Employment contract types

Working hours in Grenada

Compensation & Benefits

Frequently asked questions

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Frequently asked questions

How does an EOR in Grenada ensure compliance with local labor laws?

An EOR in Grenada makes sure your business follows all local labor laws by handling everything related to employment. They take care of drafting legal contracts, processing payroll, and managing taxes, making sure everything complies with Grenada’s regulations. The EOR stays updated on any changes in the law, so you don’t have to worry about keeping up with legal requirements. This makes sure that your business operates smoothly and legally, avoiding any potential fines or issues.

What are the benefits of using an EOR for hiring in Grenada?

Using an EOR for hiring in Grenada offers many benefits. First, it simplifies the hiring process, allowing you to quickly bring on local talent without setting up a local entity. The EOR handles all the administrative tasks, like payroll, taxes, and benefits, so you can focus on running your business. Also, an EOR ensures that you comply with local labor laws, reducing the risk of legal problems. This makes expanding your team in Grenada easy and stress-free.

Grenada EOR & PEO

Start hiring in Grenada

Simple, compliant hiring with Horizons EOR & PEO

Hire in Grenada

Facts & Stats

EOR Platform

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Time-to-hire

Contracts

Local benefits

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hire employees in Grenada

What Is a Grenada EOR?

Save Money And Time with A Grenada EOR

What Are the Benefits of a Grenada EOR?

Horizons is Best IN Class

Why Choose Horizons?

Step-by-step Grenada EOR

How Does a Grenada EOR Work?

stay compliant with Grenada labor laws

Labor Laws

Employment contract types

Project-based

Probationary period

Termination

Severance

Fixed-term

Probationary period

Termination notice period

Severance

Indefinite

Probationary period

Termination notice period

Severance

Working hours in Grenada

Overtime must be compensated in the following way:

For a regular workday:

For a rest day:

For a statutory holiday:

Paid time off

Under 1 year of employment

1-10 years of employment

10-20 years of employment

20+ years of employment

Sick leave in Grenada

Less than 6 months of sick leave:

Under 1 year of employment

1-10 years of employment

10-20 years of employment

20+ years of employment

Over 6 months of sick leave

Under 1 year of employment

1-3 years of employment

3+ years of employment

Maternity leave in Grenada

Annual leave in Grenada

Termination & severance in Grenada

Grenada's compulsory social security contributions

Grenada social security for foreigners

Individual income tax

Health insurance

hassle-free Grenadian compensation & benefits

Compensation & Benefits

Grenada compensation laws

13 month salary in Grenada

Social security for Grenadian nationals

Hire in Grenada in 24h without your own local entity.

Frequently asked questions

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