Our people, the development of their talent, and the progression
of their careers remained one of our utmost priorities during the year. Our valuable employees at every level, their collective teams, and our staff at every level are the backbone of our past achievements, our current progress, and our future aspirations.
Group establishment and the resultant changes to its structure have been essential prompts to a range of Group-wide human resources initiatives. At fundamental levels, we have worked extensively and precisely to ensure human relations is tightly aligned with evolving Group needs. All human resources policies and practices have been reviewed and standardized across the Group and all its subsidiaries, ensuring shared principles in talent hiring, staff management, individual fairness and Group-wide efficiency.
The result maintains subsidiary flexibility in terms of their own individual business objectives, while bonding our people into a sense of the whole. We emphasize this important value of wholeness across our four subsidiaries. We act on the knowledge that shared, integrated, human resources policies and practices form a key element of Group success.
Our employee growth plans are aligned with the Group’s development into a key financial hub, and the gateway to the MENA region, and are therefore encouraged to pursue career paths within the Group that better suit their personal growth ambitions.
Based on the strategic objectives that guided our Human Resources Division’s performance in 2022, we have focused on five carefully considered areas during the year:
Highly prioritized among these is offering employees a clear sense of Group direction. We emphasize on frequent and concise communication on Group vision and direction to help align employees’ efforts with goal-setting and attainment. As part of this, we seek to involve employees in practical, people-focused discussions to shape and further Group direction, as well as their own progression mapped on to that of the Group.
Talent and motivation play a significant role in establishing and enhancing a culture of positive reinforcement (using both financial and non-financial measures) for sustained motivation, and to attract new, progressive talent. In a cooperative training initiative, we provide the opportunity for students to complete their graduation requirements and gain practical knowledge by interacting with the wider Group businesses.
We focus on providing strong, exemplary leadership at Saudi Tadawul Group, ensuring they are trusted and respected as the custodians of the Group’s vision by the employees, and are more alert and proactive towards employee empowerment, thereby creating a more positive, results-oriented culture than authoritative styles.
We have created a nurturing environment that encourages innovation and learning, and promotes the development of a team that is flexible with their knowledge and fast adaptive to evolving operating environments. We are highly active in developing innovative learning frameworks, programs and channels that encourage and harness innovation in ideation.
Underpinning all these is attention to our whole professional environment. Group-wide, we have a constant lens on fostering a performance driven culture, adopting value-adding mechanisms and opportunities to enhance the working journey of Group employees.
Group and subsidiaries at A Glance
Our steadily growing employee headcount represents ever-deepened Group growth driven by strategic workforce planning that has helped us strengthen our internal capabilities and talent pool. More importantly, the composition of our team how’s the stated aim of promoting a diverse and inclusive work environment, one which understands, promotes and empowers the workplace excellence, in line with Saudi ambitious Vision 2030 objectives.
|Group in numbers||2022||2021|
|Total number of employees||462||396|
|Number of female employees||123||102|
|Female employees (%)||27||26|
|Number of Saudi employees||423||360|
|Training days per participant||2.92||1.97|
Total employee composition of the Group – 2022
Total Employees by Category
Total Employees by Age Group
|Over 51 years||22||18||17||15||12||1||0||0||0||0|
Total Employees by Service Period
While the COVID-19 pandemic required a range of timely, exactly-purposed and innovative human resources support, the Division has learned and evolved to establish wide-ranging and practical continuity plans – which have been assessed and updated – to deal with such an eventuality, and support the Group’s Business Continuity Plan (BCP), and Risk & Security function. The “MUTTASEL” initiative launched in 2021 as a remote working option accessible to all employees of the Group, will also remain as one of our extended back-ups as such circumstances require.
We support our people-focused role with close attention to appropriate technological resources. A major revamp of the Human Resource Information System (HRIS) is being carried out to automate processes, regulate compliance, and enhance operational efficiencies across all HR functions. The introduction of an applicant tracking system has also provided us with the necessary tools to automate tasks for a highly efficient and scalable hiring and recruitment process, tracking and mapping the most suitable candidates with the Group’s talent needs and opportunities.
Policies for employee training and development are being formulated at Group level, and given a broader Group orientation. As a result, our training plan has been designed to develop all levels across the Group and its subsidiaries - starting from graduates and running through professional levels, middle management up to the executive team, with the overarching strategic objective of improving our Organizational Health Index. Trainings include structured programs for a range of skills from leadership, technical and soft skills as well as on-the-job learning opportunities, to adhoc user training programs for upgraded and new systems as required. Based on training analysis and multi-assessments that contribute to identifying the development areas, programs have been aligned with Group strategy and its objectives to reinforce our human capital’s competencies as well as transferable experiences that make them invaluable to the organization.
Through our Graduate Development Program, we assess and accept outstanding candidates each quarter. The freshly graduated are enrolled in a nine-month management training program in collaboration with a highly ranked business school, with attention to professional skills and technical training.
In middle management training, we provide Individual Leadership and Group Leadership Retreat Programs. Regarding those at senior executive levels, we provide individual executive education preceded by an assessment phase on specific competencies, thereby defining training areas and aligning them with required development. In post-assessment, we measure learning progress and learning impact. In additional related support, we are able to contribute financially, to those wishing to obtain a Masters or Professional Certificate.
As a result, our training and development plan forms a series of actions that will make us more capable of confronting challenges, maintaining high-performance and adapting to rapid market changes. We focus on encouraging lifelong, holistic learning and promoting a culture of innovation, collaboration and mutual engagement.
During 2022, we have doubled the number of training programs offered to our employees from 171 in 2021 to 346 in 2022, as a result increasing the total number of training days by 72.9%
All training and development initiatives are thoroughly tested and surveyed for effectiveness of outcome in meeting expressed needs. Multiple surveys were launched through the year to ensure the effectiveness and efficiencies of human resources services and practices.
|Salaries and benefits||2022
|Social Security Contributions||12,347,111.75||11,172,640.15c||9,409,212||9,685,562||9,405,908|
|Staff Insurance||14,294,052.53 d||13,768,208.62d||12,963,851||12,996,762||11,932,641|
|Total Salaries and Benefits Paid||200,008,805.97||175,660,174.12||154,713,794||160,904,781||155,382,961|
a: Includes fixed allowances
b: includes variable allowances
c: paid by the Company for social security (GOSI – SANED – HAZARD)
d: Medical insurance + Life insurance
A supportive culture
Mutual staff understanding, commitment and responsiveness depends in large part in mutually shared activity. Among employee engagement activities during the year have been Town Halls to communicate strategic plans, and business updates to strengthen the sense of Group direction. A host of more social, cultural and wellness-oriented activities and events, and our annual gathering 2022 were held successfully. Notably too, staff were active in participating with the visually impaired community in celebrating White Stick Day. Such engagements were spread throughout 2022, steadily populating our HR events calendar following the previous years’ restrictions stemming from the pandemic.
2023 and beyond
Looking ahead to 2023, we have four top-line strategies ready for implementation:
- Employee accountability and motivation: Emphasizing empowerment and personal ownership of employees across non-management levels, paired with motivation via rewards and recognition, including establishment of clear career paths.
- Attention to the total work environment: Promoting a strong togetherness culture, as well as openness and trust, and breaking down siloed approaches
- Performance coordination and control: Improving transparency regarding individual performance expectations and their assessment.
- External orientation: Treating external and internal audiences with the same rigor and commitment
Together, our current areas of work as well as our future-facing initiatives form essential steps in the realization and advancement of our Group strategy of building a strong, future-ready, and capable pool of human resources, so as to advance as an organization and growth towards achieving the ambitious Kingdom’s Vision 2030.