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The new minimum statutory wage in Greece

Βy virtue of Decision No. 25058/29.03.2024 of the Ministry of Labour, as of April 1 2024, the statutory minimum monthly wage and the statutory minimum daily wage were increased and determined, for employees and blue-collar workers employed on a full-time basis, without age distinction, as follows: For employees, the new gross monthly minimum wage is...
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Chile introduces 40 hour working week

Greek law defines full-time work as 40 hours per week, spread across five or six days. Overtime is compensated with a premium payment, and there are no provisions allowing for paid time off instead. This framework ensures that overtime is always financially compensated, maintaining a clear distinction between standard and extra hours worked. For perspectives...
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Wage ‘Dollarisation’: balancing inflation and talent retention

In Greece, employer salary payments adhere to specific legal requirements. As per a 2017 ministerial decision, all employee remuneration in the private sector must be deposited directly into bank accounts. This method ensures transparency and compliance with labor regulations. Payment is customarily made in euros, with foreign currency payments being rare in practice. Employers may...
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What we mean by ‘pay’

Compensation is a primary motivator for job changes globally, necessitating that it be both proportional and sufficient as per national law. Collective bargaining agreements (CBAs) establish minimum pay standards, with courts ensuring constitutional compliance. Recent Italian Supreme Court rulings showcase the evolving definition of ‘pay,’ reflecting both traditional and modern employment practices. In Greece, the...
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2 year-end tips for employers in Greece

Here’s what’s on the ‘to do’ list for employers in Greece before the end of the year Christmas bonus Employers should pay all employees their Christmas Bonus (fourteenth salary). The Christmas Bonus is equal to one month’s salary with an increase corresponding to a percentage of the annual leave allowance. The Christmas Bonus is always...
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Digital Nomads: implications for employers

With remote work on the rise, have you considered how many of your employees might be interested in temporarily working from a tourist destination? To explore this fascinating trend, we hosted a panel of global mobility experts from popular destinations like Greece, Italy, Spain, and Portugal. The discussion centered on digital nomad visas and their...
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