Hire in the Dominican Republic
The employment rate of the Dominican Republic has averaged 52.3% from 2000 to 2020. The Dominican Republic is a fast-growing country in Latin America; tourism is the dominant occupation of the people. The unemployment rate is 7.40% in the country, and of the employees, 55.6% are wage and salaried workers.
The main employment sectors in the country are tourism, agriculture, and information technology. The country has tremendous scope for growth. Further, 40% of the youth in the country are actively looking for ways to find new jobs that meet their expectations. There is an enormous job market in the country and talent that is yet to be utilized. With more digital advancements, a boom is anticipated in the job market of the Dominican Republic. Skuad can assist you in finding the best fit for your company. Talk to Skuad experts to learn more.
Overview of the Dominican Republic
Population: 10.8 million people
Gross Domestic Product (GDP): 90 billion USD
In the last few years, the economy of the Dominican Republic has experienced rapid growth. From 2015 to 2020, the annual GDP growth was about 6.1%, making the Dominican Republic one of the fastest-growing economies. Foreign direct investments, tourism, and remittance have allowed the country to progress.
The market size of the Dominican Republic is accommodating for all the working-age population in the country. However, more companies should invest and expand in the country, and the skilled, employable youth should be exposed to new career opportunities. This will reduce the talent gap in the Dominican Republic and help its economy thrive.
- The most successful economic sectors in the country are tourism, agriculture, and foreign direct investment. These are well established and are the main source of revenue for the government.
- The Dominican government has recently made the country receptive to investments and technological partnerships. This is a major move for the economic advancement of the country.
- The government is looking for new ways to expand the exports of the country and to have a global presence.
- The government plans to create job opportunities for the youth by collaborating with multinational companies and corporations.
The internet speed of the country is about 4.09 Mbps, and people use the internet for their various needs. These include,
- Looking for jobs
- Online classes
- Remote work
- Skill-sharing and collaboration
To know more about hiring a remote employee in the Dominican Republic, book a demo with Skuad now.
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Talent in the Dominican Republic
Top Skills: City-Wise and Occupation-Wise
The Dominican Republic is a fast-growing economy, and there is plenty of talent available in the country. Even though tourism is the most important sector in the country, followed by agriculture, the youth of the country are eagerly looking for new avenues to showcase their diverse skill sets. Let’s have a look at the top job opportunities in the different cities of the Dominican Republic.
The top industries that are expected to hire in the Dominican Republic are tabulated below.
When there’s so much to offer, it becomes tricky to hire the right set of people for your team. Skuad can help you find, hire, and manage excellent local talent and make expansion in the Dominican Republic a hassle-free task.
Hiring Cost in the Dominican Republic
The hiring cost of a particular place depends on various factors associated with the place. Various factors such as the cost of living, economy, income, and the businesses in the country influence the hiring cost. The different factors that affect the hiring cost are,
- Recruitment costs
- Interview costs
- Onboarding costs
- Training costs
- Retainment costs
The hiring costs may vary depending on the organization and the methods implemented. It is always useful to research the location and method of hiring before going forward with it. Expert advice is beneficial to the success of the hiring process. The better a company plans and executes the hiring process, the better long-term success it receives.
Cost of Living
The cost of living refers to the expenses an average person needs to make for living in a particular place. The cost of living is high in some places, while in other places, it is low. For a company to be effective, the cost of hiring needs to be within its budget.
The cost of living is a measure that can be used to understand the economic growth of a region. The more economically developed a country is, the more the cost of living will be. In this case, the income also will be high.
The average cost of living in the Dominican Republic for various categories and resources is tabulated below. It does not vary much for different locations in the Dominican Republic.
Cost of Renting
The cost of renting in the Dominican Republic is not as high as in other countries. The minimum rent per month comes to around USD 400/DOP 22,748. The working class uses the renting facilities more as they have a stable income to pay rather than the traditional workers who have their own house.
The cost of renting in the various cities of the Dominican Republic varies. Some of the famous cities of the Dominican Republic are Azua de Compostela, Juan Dolio, San Juan de la Maguana, Santo Domingo, Baní, Las Guaranas, Santa Cruz de Barahona, and Bonao. All these cities have different renting costs based on the economy and the way of living. Let us look into the city-wise cost of renting in the Dominican Republic.
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Employment Laws in the Dominican Republic
All the labor relationships in the Dominican Republic are regulated by the Dominican labor code. The labor code lays down the rights of the employees and protects them against unethical and unfair practices at the workplace. All people working in the Dominican Republic are protected under the law, irrespective of nationality or background.
The working hours shall not exceed eight hours a day and 44 hours a week. Executive and managerial employees do not have this rule. The wages of the work are negotiated between the employer and the employee.
Different Types of Employment Laws in the Dominican Republic
- Civil rights laws
- Workers compensation laws
- Family and medical leaves laws
- Workplace safety laws
- Labor relations laws
- Immigration employment laws
- Compensation and child labor laws
Apart from these, there are other minor laws in the Dominican Republic as well. All these are formulated to ensure that the employees in the Dominican Republic are well protected and have all the rights to earn their living with freedom and equality. Skuad’s EOR solutions for the Dominican Republic can help expand your business while adhering to the tax legislation, labor laws, and contracts.
How Can Skuad Help You in Hiring in the Dominican Republic?
Hiring in the Dominican Republic requires much research and detailed analysis. It requires one to identify the cost of living, the various industries prevalent in the country, the culture of the country, the employment opportunities, the talent available, and the pay range for the hires, among other factors. This is where Skuad can help. As a reputed hiring and payroll service, we make sure that your entire hiring process is smooth while you take care of your more important business needs. Our digital HR platform takes care of all critical aspects regarding employment such as sourcing and vetting talent, onboarding, global digital contracts, managing payroll, compliance, and tax filing. We have a dedicated team of experts working for you across time zones and delivering excellent results. For more information, connect with Skuad experts and book a demo.