The volatile world market has brought a major challenge for hiring talented professionals. More importantly, the method of daily operations has evolved to suit future trends and ensure more dynamic and safer working conditions. According to reports, the role of HR professionals has changed drastically since the beginning of 2021. In addition to organisational agility and flexible working patterns, focus has increased regarding upskilling, enhancing employee experience, understanding corporate responsibilities and welcoming a sustainable change.
The increasing number of Swiss students inducted into apprenticeship right after university has earned the country the top spot in IMD World Talent Ranking. Thanks to the high quality of life and remuneration, Switzerland has attracted a lot of foreign labour and looks to translate this feat into economic success.
The employer payroll tax is calculated as follows:
The employee payroll tax is calculated as follows:
Income tax is levied as follows:
There is no official minimum wage in Switzerland.
The employee must be paid monthly.
13th month salary
Employers in Switzerland pay their employees salary in 13 installments. They are given 2 months salary in December.
The standard number of working hours in Switzerland is upto 45 hours a week.
Overtime must be compensated at a premium of 25% and must not exceed 2 hours a day.
Number of national holidays is 6 days. However, there are also quite a few regional holidays. The list of holidays can be found here.
Employees in Switzerland are entitled to four week of paid annual leave per year. On the other hand, younger employees, below the age of 20 are entitled to five weeks of paid annual leave.
Under the Swiss law, employees who are in their first year are entitled to paid sick leave for for up to three weeks and at a full pay proportionate to longer periods of employment.
Maternity Leave in Switzerland is given for a period of 14 weeks after the birth of the child. Mothers receive 80% of their wages during this leave.
Paid Paternity Leave is also given to fathers for a period of two weeks
In Switzerland, either party can terminate the contract - either on the grounds of statutory or notice period.
There is a 7 day notice period given to the party during the probation period. Alternate arrangements of notice period may also be stated in the employment contract.
No statutory provision for severance pay in Switzerland.
The probation period in Switzerland is between one to three months.
Switzerland levies a standard VAT of 7.7%