All About Offering Employee Benefits in Greece
Hire the best talent in Greece with the information you need to offer a competitive benefits package and stay compliant.
Required Benefits in Greece
Greek employees already receive essential benefits through the social security system, but going the extra mile can help your business attract and retain top talent in a competitive market. With Justworks, small businesses can easily provide localized benefits without the cost and complexity of setting up an entity. Let’s break down the mandatory benefits employers must offer in Greece and explore extra perks that can give you a hiring edge.
Social Security
Social security is managed by the Unified Social Security Fund (EFKA) and covers essential benefits like healthcare, pensions, unemployment support, and parental leave. Both employers and employees contribute to EFKA. Employers typically contribute around 22-25% of an employee’s salary and employees contribute up to 16%. These contributions fund various social programs, including IKA (health and sickness benefits), OAED (unemployment benefits), and supplementary pension funds. Compliance with social security contributions is mandatory, ensuring employees receive critical protections and benefits throughout their careers.
Time Off
Employees are entitled to paid vacation leave that covers their wages during leave. Employees typically receive 20 working days for a five-day workweek or 24 days for a six-day workweek.
Greece Offer Competitive Benefits
A robust employee benefits package can be a powerful recruitment tool. Consider incorporating the following benefits to attract the best talent.
Wellness Programs
Employers may offer wellness programs to promote employee health and well-being. This includes perks like gym membership stipends, wellness workshops, mental health support, and company-led initiatives to encourage healthy lifestyle choices.
Private Health Insurance
While public health insurance provides essential coverage, private plans help cover additional costs, such as specialist visits, elective surgeries, and extended treatments. Private health insurance typically requires less wait time for services. Many employers offer private health insurance as an added perk.
Ready to Offer Benefits in Greece?
Justworks makes building your global team seamless by helping you access localized benefits to attract top talent in Greece. Simplify international hiring today.
