The number one employee benefits people in Bosnia and Herzegovina care about is health insurance. State provided healthcare is deemed insufficient and private healthcare is much preferred.
The name “Bosnia” comes from an Indo-European word Bosana, which means water. Which is fitting as the country is covered with beautiful lakes, rivers, waterfalls, and a strip of the Adriatic Sea.
Average cost of employer sponsored benefits
At this moment there is no legislation that private insurers can offer Workers Compensation coverages. Personal Accident of the employees is obligatory in the entity Republic of Sprska, but minimum sums insured are not prescribed.
Advice to Employer
If you are a first time employer in Bosnia Herzegovina the most important thing is to build connections. The country is eager to attract foreign businesses and is open to help navigate new businesses.
Bosnia Herzegovina has a currency that cannot be exchanged anywhere else. The Bosnian Convertible Mark can only be bought inside the country.