Hiring in Venezuela
One of South America’s largest nations by area, Venezuela has been a common talking topic for all the wrong reasons over the last decade.
Despite its vast oil reserves and extensive natural resources, Venezuela is facing a humanitarian crisis as it sits at a political impasse, with long-term leader Hugo Chavez strangling the pipeline between these vital industries and Venezuela’s people.
The Venezuelan economy is tightly controlled and doing business in the country is tough without key government contacts and vast spending power.
Venezuela faces shortages of basic items due to issues like corruption and a devalued currency, and exports are almost completely dominated by exports of crude petroleum.
Hiring in Venezuela is increasingly difficult, with workers facing record low wages and unregulated, informal employment practices. Many Venezuelans live in poverty or have lost savings, and the general populace is reliant on remittances from abroad. An expert in the Venezuelan labour market is a necessity to navigate the corruption and employment issues that continue to plague this nation that offers so much serious potential.
Why use TopSource Worldwide in Venezuela?
We free your teams from the burden of managing payroll across borders, working diligently to ensure a seamless process across all activities.
We’ll manage the data flow from you to every local market and will return data to you in a readable format for each of your key teams, including payroll journals if needed.
Our services combine process excellence with a human-centric approach, and our top priority is always the care and compliance of your payroll — no matter where in the world you operate.
- Leverage our experience and ensure in-country Payroll compliance.
- Reduce processing and back office time.
- Align processes, reducing complexity and risk
- A single, centrally managed payroll system that delivers a fluid and consistent service to you and your employees.
- Flexibility of service — adapting to your needs, regardless of the market.
- The option to work with other providers you already have in place, if needed.
- Global HR data management and data tracking where required.
- Global payments support for both employees and authorities.
- A dedicated team and account manager so that you always have a central point of contact
What TopSource Worldwide provides in Venezuela
- Simplicity – we provide one monthly consolidated invoice for the services provided inclusive of salaries, taxes, fees and employee expenses. This reduces banking costs and your finance teams time spent.
- One point of contact – a single Account manager looking after all your Payroll.
- Compliance – all funds payable to the employee are processed through payroll. You receive monthly evidence of taxation paid to the competent authorities in country.
- All services are provided by in-country experts that are professionally qualified in their respective fields.
- Electronic payslips for all employees.
- All Statutory filing completed by TopSource Worldwide.
We appreciate each situation and business is different. That is why we offer a consultative and bespoke solution to every client. We know one size does not ‘fit all’.
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