Saturday, January 4, 2025
45% Pay rise for Saudis in Private sectors - HR Ministry
There was a 45% increase in private sector wages for Saudis in the year 2024, according to the Ministry of Human Resources and Social Development. Trending: New fee introduced for Businesses related to Iqama, exit reentry, final exit
With an increase in the number of women in middle and senior management positions reaching 43% and a rise in the labor force participation rate to 35.8%, above the goals set by Saudi Vision 2030, women's empowerment initiatives greatly improved their economic engagement.
According to the ministry, this is a result of their attempts to strike a balance between enhancing the working conditions and increasing productivity, which in turn reflects the rising living standards that are a result of a greater respect for national competencies.
In 2024, the ministry accomplished a number of qualitative targets that helped the kingdom reach its Saudi Vision 2030 objectives ahead of schedule and solidify its position as a regional and international leader in development.
More and more Saudis are finding jobs in the private sector, with 2.4 million men and women already employed there. There are 361,000 first-time workers within this group of Saudis. Citizens were employed by the private sector to the tune of 50.5%. Most Viewed: This is where luggage storage located at Makkah Grand Mosque
Total unemployment in Saudi Arabia was 3.3%, placing the country seventh among the G20, while the jobless rate among Saudi nationals dropped to 7.1%, a level reached six years before the Vision 2030 target.
Company contributions to social spending amount to 4.15% of total spending, and the private sector has contributed over SR4 billion through the National Social Responsibility Platform, putting the Kingdom in 16th place in the Social Responsibility Index (IMD World Competitiveness Yearbook).
The national training campaign Waad offered 1.3 million training opportunities, while the unified national employment portal Jadarat had over 210,000 job vacancies, with 700 new openings every day, all with the goal of making national cadres more prepared.
During 2024, the ministry made major advances in digital transformation. The number of beneficiary trips to branches reduced by 74%, and the number of automated digital services increased to 1,000, accounting for 80% of the total services supplied. Follow Saudi Expatriates page on Facebook
45% Pay rise for Saudis in Private sectors - HR Ministry - Saudi-Expatriates.com
