Saudi job market continues its high-growth path as tech, AI investments flow in
Dubai: There is no shortage of confidence among Saudi Arabia’s workforce, with a whopping 80% believing they can find a new job that offers better pay. That’s 25% higher than those who had the same confidence last year, according to a new job trends report from the consultancy Korn Ferry Digital.
Sure, there is significant demand for Saudi candidates with the right academic skillsets and on-the-job experience. The hiring demand cuts across all sectors, and also fueled by the strict enforcement of rules on businesses meeting the targets on recruiting Saudi nationals. Plus, there are the major initiatives unleashed by the Saudi authorities, most notably in creating a tech and AI workforce.
“Three out of five professionals in Saudi Arabia feel they could easily find a new role of they leave their current role,” according to the Korn Ferry report.
While there is ample confidence among professionals, average salary increases have been pegged at 4.9%. This suggests that a straight pay hike alone is not enough to pull in new hires – “Employees are also seeking benefits, growth, purpose and long-term stability,” the report finds.
According to other industry sources, salary and incentives could be in for a hike as more professionals put in 2-3 years at work, build up a track record and then seek a new place of work.
Some of the actual gains from recent tech and AI focused investments too will emerge by that time, creating their own workforces.
"Most people won’t quit their current job just for a higher bank balance, which might only be temporary," according to the Korn Ferry report. "Right now, they also really want rewarding work, better benefits, and more control over their working hours.
"If you can offer these, they’ll be powerful tools to attract top talent in 2025, even if you struggle to compete on pay."
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