Main challenges faced by multinational companies when planning human resources in Venezuela

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Rios, Tabayre
Issue Date
MBA in Business Management
Dublin Business School
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Human Resources Planning has been in consider a key factor for the development of companies and its success is highly reflected in the markets nowadays. Such planning may varies from country to country and therefore, the aim of this research paper is to explore whether Human Resources Planning can still be consider of relevance within Multinational companies in Venezuela given the main challenges faced when planning its operations in this country. The influence of external factors prevailing in Venezuela, such as legal restrictions and socioeconomic problems in the Human Resources Planning has been analyzed in detail through this paper in both the academic and the field perspective. As a result, this study lead us to understand that even though planning plays an important role for Multinational companies, the skill of improvising and being flexible with said planning has an important role in particular environments such as the ones currently present in Venezuela. It is shown that due to the existence of those particular challenges, global policies and practices should be adapted in order to fulfill the reality of this country. In addition, it was evidenced that recruiting and retaining the right people has become a hard task in Venezuela as a consequence of the increasing brain drain that affects the country.