Hire your remote team in Czech Republic

Name: Hire a remote team in Czech Republic
Brand: Rivermate
SKU: czech-republic
Price: 499 EUR
Availability: InStock
Rating: 4.4 (5 reviews)

Only 499 EUR per employee per month

We currently do not offer any services in this country.
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Hiring a remote team in a country as Czech Republic comes with a lot of overhead, such as compliance, local laws, taxes, etc. As a company, you don't want to worry about knowing all the local laws. Instead you want to focus on your remote team and the business. Rivermate's Employer of Record (EOR) solution helps companies hire remote employees in Czech Republic. We take care of global payroll, taxes, benefits, compliance and HR activities. So you can focus on growing your business.

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1. Hire a remote team in Czech Republic with Rivermate

Payroll, benefits, taxes, and compliance can be difficult to manage in Czech Republic, particularly if you don't have established local relationships. You can hire employees in Czech Republic effectively, conveniently, and in full compliance with all relevant labor laws using Rivermate's global Employer of Record (EOR) solution. We handle the responsibilities and legal risks associated with foreign employment so you can concentrate on growing your company.

Table of contents

Hire a remote team with Rivermate
Introduction
Hiring a remote team in your country
Cost of living
Cost of renting
Major industries
Hiring cost
Employment laws
Top skills
Economic landscape
Market size
Minimum wage
Why choose Rivermate?

2. Introduction

Rivermate is a global employment solutions company that provides Employer of Record services in Czech Republic.

As an employer of record, we help you hire employees and run payroll services in Czech Republic, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Czech Republic.

It is not necessary to establish an entity in order to hire an employee. We can hire your employee in any country with a few mouse clicks. Using our Employer of Record solution, you can have full compliance, benefits, and automated payments.

If you wish to hire a remote team in Czech Republic or individually hire remote employees in Czech Republic, Rivermate’s global employer of record services will make sure that the process will be as seamless as possible for you.

Send us a message so we can talk about how Rivermate’s Employer of Record Czech Republic services can best help your company!

3. Hire a remote team in Czech Republic

The Czech Republic, a country in central Europe, has a developed economy and a high income. The country is also ranked among the top ten most peaceful in the world (Global Peace Index 2020) and is frequently regarded as one of the best places for expats to live. The country's ongoing innovation and business sophistication can be attributed to its well-established infrastructure and skilled workforce.

Overall, unemployment in the Czech Republic has remained relatively low. However, the COVID-19 pandemic was bound to reduce employment levels. The two major issues that have also posed a threat to the job market are automation and the gender gap in employment. Due to a shortage of skilled workers, employers are now turning to attracting foreign talent. Engineers, technical workers, medical doctors, health care workers, and teachers have all reported skill shortages.

4. Cost of living in Czech Republic

The Czech Republic's cost of living is $1007, which is 1.08 times higher than the global average. The Czech Republic ranked 64th out of 197 countries in terms of cost of living and 34th in terms of quality of life.

In the Czech Republic, the average after-tax salary is $1320, which is enough to cover living expenses for 1.3 months.

5. Cost of renting in Czech Republic

Rent in the Czech Republic can range from $350 to $950 per month, depending on location.

6. Major industries in Czech Republic

The majority of the workforce is recruited by the dominant service sector. The industries employ nearly 38% of the total working population, while agriculture employs only 2.64% of the total workforce (2020).

Skills Panorama, an EU-funded website, predicts that demand for professionals will increase over the next few years. Furthermore, significant job opportunities will emerge in the business and service sectors.

The top industries where employers will want to hire remote employees from Czech Republic are:

- Health care (Doctors, Physicians, Nurses, Pharmacists, and other health care staff)

- Information technology (Programmers, Software developers, UX/UI Designers, Data Engineer, Test Analysts)

- Finance (Financial Analysts, Accountants, Tax Specialists, Credit Analysts)

- Administration (Customer service manager, HR specialist, Office coordinator)

- Legal (Lawyers, Regulatory compliance specialists, Legal counsel, Risk analyst)

7. Hiring cost in Czech Republic

Hiring is still one of the most important functions of any organization, and if not done properly, it can be a huge financial and time drain. The recruiting budget primarily covers the following items:

- Fees charged by third-party recruiting agencies or salaries paid by internal recruiting teams

- Fees for job boards

- Employee referral bonuses

- Background investigations

- Training and onboarding

- Salary and other employment advantages

8. Employment laws Czech Republic

The country's employment laws govern the relationship between employers, employees, and labor unions.

The labor code is the cornerstone of Czech employment laws. National legislation, constitutionally guaranteed fundamental rights, judicial pronouncements, and collective bargaining agreements all serve as additional sources of labor protection.

The labor code contains detailed provisions concerning employment relationships, working hours, occupational health and safety, remuneration, and damage compensation.

9. Top skills Czech Republic

The country's economy is dominated by the service sector, which accounts for slightly less than 60% of total GDP, followed by the manufacturing sector (31.99% as of 2019), with agriculture contributing a negligible portion.

Electronics, high-tech engineering, steel production, pharmaceuticals, and transportation equipment are major manufacturing activities.

Among the primary services are software development, life sciences, research, and development.

Artificial intelligence and automation have recently captured the attention of policymakers. Automation and robotics, on the other hand, are already regarded as critical components of the country's economy.

The financial sector is strong; even banks are well-capitalized and resilient.

Internet download speed: Broadband and mobile internet download speeds are 91.79 and 62.07 Mbps, respectively. The upload speed for broadband and mobile internet, on the other hand, is 39.08 and 18.58 Mbps, respectively.

10. Economic landscape in Czech Republic

According to the OECD's economic forecast summary, the country's GDP will rise by 3.3% in 2021 and 4.9% in 2022. The country's economy is robust and well-developed. Furthermore, investment, trade, and continued domestic and foreign demand drive growth. Electronics, machinery, chemicals, transportation supplies, and fuels are among the country's major exports.

11. Market size in Czech Republic

The Czech Republic's labor market is currently stable; however, issues of talent gap and labor shortage persist. The country's retail market is dominated by supermarkets and hard discounters. Electronics, fashion, toys, food, and furniture are the top five e-commerce segments. Though the food sector is the most dominant, the clothing sector is expected to grow rapidly in the coming years.

12. Minimum wage in Czech Republic

In January 2021, the Czech Republic's compensation laws were amended to increase the minimum wage to CZK 15,200 per month. These laws, however, may vary according to the terms of the collective bargaining agreement.

13.Why choose Rivermate to hire your remote team in Czech Republic?

Establishing an entity in Czech Republic to hire a team takes time, money, and effort. The labor law in Czech Republic has strong worker employment protection, requiring great attention to details and a thorough awareness of local best practices. Rivermate makes expanding into Czech Republic simple and effortless. We can assist you with hiring your preferred talent, managing HR and payroll, and ensuring compliance with local legislation without the hassle of establishing a foreign branch office or subsidiary. Our PEO and Global Employer of Record (EOR) solutions in Czech Republic give you peace of mind so you can focus on running your business. Please contact us if you'd like to learn more about how Rivermate can help you hire employees in Czech Republic via our Employer of Record (EOR) / PEO solution.