According to the Saudi Human Resources Development Fund (HADAF), 220,000 Saudi men and women benefited from the employment support product offered by the organisation, which cost SR2.3 billion (USD 613 million), during the first half of 2024.
The Fund reaffirmed that, as part of the Employment Support programme, it still supports Saudi workers employed in private sector businesses.
The product seeks to improve young Saudi men and women’s engagement in a variety of private sector occupations and fields, as well as their professional sustainability. It allows them to secure stable employment in private sector organisations.
The scheme provides a maximum of SR3000 in financial support, with a percentage ranging from 30% to 50%.
HADAF aims to increase the level of skill development and improvement of Saudi men and women, increase their participation in the labour market, and encourage the private sector to play a part in Saudization through its programmes and products.
Together with this, the partnership with pertinent authorities is being strengthened in order to train, employ, and empower national cadres and to increase their competitiveness and sustainability in a manner that supports the Kingdom’s Vision 2030 goals of developing human capabilities and labour market strategy.
Notably, the HADAF’s strategy, which was introduced in the first quarter of 2023, helped to increase the advantages that people and businesses received from the Fund’s services and programmes.
The three main objectives of the strategy are to: improve the relationship between supply and demand in the labour market; enable and sustain employment in the private sector; and enhance the development of national human capital to meet labour market requirements.
Meanwhile, the Ministry of Human Resources and Social Development released data showing that more than 11,000 Saudi Arabian government workers resigned in the first quarter of 2024. Over 9,400 men and 2,100 women left their jobs during this time.