Technology firms across the globe have adopted the outsourcing framework. Outsourcing works but, far too often, the deciding factor when choosing an IT partner is the rate sheet. Why outsource to Mexico when you could double your labor force in Asia? NearShore Technology CAO Sheri Apodaca shares the simple answer: labor laws in Mexico ensure stability and increase productivity. NearShore Technology employ technologists in two major cities in Mexico, and they receive the following benefits:
- Profit-Sharing. Federal law in Mexico requires firms to participate in a profit-sharing program in which employees receive 10% of the firm’s annual profits.
- Christmas Bonus. Firms are required to pay a year-end Christmas bonus (aguinaldo) to all employees that is equivalent to at least two weeks’ pay.
- Legal Holidays. Mexican labor law establishes seven legal paid holidays per year. Many businesses and labor contracts observe additional days.
- Vacation. Vacation time is guaranteed and rewarded based on seniority. Six days of paid vacation must be offered after one year of service, plus two additional days each year for the next three years.
- Social Security. All workers are automatically covered by the public healthcare system, the Mexican Institute of Social Security (Instituto Mexicano de Seguro Social, IMSS), whether registered or not.
- Employee Housing. Employers are required to pay a 5% fixed payroll tax to finance the Institute for the National Fund for Employee Housing (Instituto Nacional del Fondo de la Vivienda para los Trabajadores, INFONAVIT).
- Retirement Insurance. Under the Retirement Savings System (Sistemas de Ahorro para el Retiro, SAR), employers must pay 2% of a worker’s salary (up to 25 times minimum wage) to a retirement fund in a bank account under the worker’s name.
We believe that by treating people well, everything else falls into place. Technology fuels the passion we have for our work, but our bond as a family is the ingredient that makes it all work. When you join the NearShore Technology family, you stop working in silos and become a part of a selfless mission to make everything around you better – your family, team, and projects.
Who is NearShore Technology? Follow the link to learn more about our mission and our culture.
