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Hire a remote team in Austria

Hiring a remote team in a country as Austria 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 Austria. 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 Austria with Rivermate

Payroll, benefits, taxes, and compliance can be difficult to manage in Austria, particularly if you don't have established local relationships. You can hire employees in Austria 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
  1. Hire a remote team with Rivermate
  2. Introduction
  3. Hiring a remote team in your country
  4. Cost of living
  5. Cost of renting
  6. Major industries
  7. Hiring cost
  8. Employment laws
  9. Top skills
  10. Economic landscape
  11. Market size
  12. Minimum wage

2. Introduction

Rivermate is a global employment solutions company that provides Employer of Record services in Austria.As an employer of record, we help you hire employees and run payroll services in Austria, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Austria.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 Austria or individually hire remote employees in Austria, 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 Austria services can best help your company!

3. Hire a remote team in Austria

The Republic of Austria is a landlocked nation in southern Central Europe known for the Austrian Alps and the Blue Danube. Austria today is the result of two World Wars, which molded its high-income parliamentary democracy and rich legacy.Austria has a very high per capita GDP and a better level of life than most other international economies. The typical working age in the nation is 15-64 years, with 72.4% of employed people falling into this category. The country's part-time work percentage is at 27.9%, with women making up the majority (47.3%).As a result of the pandemic, employment fell from 73.50% in the third quarter of 2020 to 72.80% in the fourth quarter. The number of jobless persons in the nation increased to 409,639 in 2020, signifying a 9.9% unemployment rate. The unemployment crisis disproportionately impacted non-Austrian nationals.

4. Cost of living in Austria

Austria's cost of living is regarded as high, as it was placed 18th in a research by CEO WORLD Magazine of the most expensive nations to live in. Nonetheless, the cost of living varies greatly across cities and provinces. Vienna and Innsbruck are two of the most costly places to live in, whereas lesser-known cities like Graz and Klagenfurt are far less expensive.1. The average cost of living in Innsbruck is USD 2000 per month. 2. The average cost of living in Vienna is USD 1780 per month. 3. The average cost of living in Salzburg is USD 1670 per month. 4. The average cost of living in Graz is USD 1450 per month.

5. Cost of renting in Austria

The average monthly rentals, excluding operating expenses, for various kinds of property in all of Austria's provinces are listed below. The national average monthly rent is 390 EUR. Carinthia has the lowest average dwelling rent in Austria, with a monthly rent of about 310 EUR (350 USD). In Vorarlberg, the highest average monthly rent is 500 EUR (550 USD).1. Burgenland: 350 EUR (390 USD)2. Carinthia: 313 EUR (350 USD)3. Lower Austria: 350 EUR (390 USD)4. Upper Austria: 370 EUR (410 USD)5. Salzburg: 450 EUR (500 USD)6. Styria: 350 EUR (390 USD)7. Tyrol: 460 EUR (510 USD)8. Vorarlberg: 500 EUR (550 USD)9. Vienna: 390 EUR (430 USD)The average living space in Austria is growing. It was 100.1 square meters (1,077 square feet) in 2018, an increase from 99.6 square meters (1,072 square feet) in 2017 and 99.3 square meters (1,069 square feet) in 2016.

6. Major industries in Austria

The major industries in Austria include 1. food and luxury goods, 2. mechanical engineering and steel building, 3. chemicals, and 4. automobile manufacturing. Austria is also seeing a major trend toward organic farming in the agricultural sector.

7. Hiring cost in Austria

Austrian career options are both appealing and rewarding. Even if the cost of living in the nation is considerable, well-paid earnings are adequate to cover living expenditures.Austria has a scarcity of locally qualified people, and the Ministry of Labor and the Ministry of Economics issue a skill deficit report every year. A large number of foreign employees are engaged in the construction, tourism, machinery, transportation, food manufacturing, chemicals, and hospitality sectors. Jobs in the healthcare industry are likewise in high demand due to a chronic shortage of skilled personnel in these fields. Foreign-born workers from surrounding countries like as Germany, Romania, Poland, Turkey, Bosnia and Herzegovina, and Serbia account for around 15% of the country's population. The country's minimum salary is USD 1778.Austria has a number of commercial partners, and its geographical position draws investors from all around EuropeThe majority of Austrian employees are highly competent and educated, as shown by the fact that Austria ranks 10th in the world in terms of educational quality. The World Economic Forum ranks the nation 16th in terms of having the highest trained workforce.Austria is the second most flexible country in terms of pay setting, with most businesses adhering to government salary regulations; it also has tight legislation protecting its employees.

8. Employment laws Austria

Austria has some extremely strong labor rules in place to safeguard its workers. The country's employment regulations are a hybrid of European Union and Austrian legislation.The following laws govern employment relationships in the country:- Adjustment of Labor Contract Law- Salaried Employees Act- Labour Constitution Act- Austrian Civil Code- Trade Act- Annual Leave Act- Working Time Act- Maternity Protection Act- Equal Treatment Act- Labour and Social Court Act- Labour Protection ActThe standard probation time in a work connection is one month, while the apprenticeship probation period is three months. The minimum salary for manual employees is set at 1778 USD. Employers in Austria grant bonuses to their workers; nevertheless, it is entirely up to the employers.Maternity leave is granted to female workers for four months, with an allowance equivalent to their last 13 weeks of wages. Fathers may also take paternity leave until their kid reaches the age of 24 months. Furthermore, workers are entitled to up to five weeks of paid leave each year, which increases to six weeks after 25 years of service.In Austria, typical working hours are 8 hours per day and 40 hours per week. Some sectors, however, reduce the workweek to 38 hours. Overtime pay in the nation is 50% of the salary or time balance.

9. Top skills Austria

The top in-demand jobs in Austria are in the following areas:1. Tourism and gastronomy2. IT3. Health4. Retail, trade, and e-commerce5. Media, culture, and entertainment

10. Economic landscape in Austria

Austria has a well-developed free market economy and is one of the fourteen wealthiest nations in terms of GDP. Despite this, the Austrian economy will decrease by 6.7% in 2020 as a result of the epidemic. The tourism and hospitality industries are very important to the Austrian economy. With vaccine deployment progressing and lockdown restrictions relaxing in most regions, analysts predict a strong economic rebound, with production increasing by 3.4% in 2021 and 4.2% in 2022.

11. Market size in Austria

The tourist, construction, and motor vehicle manufacturing industries, as well as food, transportation, and electronics, dominate the Austrian labor market. Austria has a well-capitalized banking industry led by five banking organizations that provide many employment possibilities. Surprisingly, the country hosts various international organizations, and as a result, it has become an international gathering place for a number of summits and conferences.

12. Minimum wage in Austria

Austria does not have a statutory minimum wage. Salaries are regulated by legislation, collective bargaining agreements, and work agreements, which are agreements between employers and labor unions. The actual salary paid will also vary according to the employee's position, responsibilities, education, qualifications, work hours, age, and length of service, among other factors.In Austria, the average salary increase is 5% every 2.5 years. The magnitude and timing of increases vary by industry.Bonuses are common, with employees frequently receiving a thirteenth and fourteenth payment equal to one month's salary each. Summer and end-of-year bonuses are generally referred to as holiday and Christmas bonuses.