Jobs in Saudi ArabiaSaudi Arabia Special
Saudi Jobs: Employees Have Highest Confidence They Can Switch
A recent report by Korn Ferry Digital reveals that 80% of Saudi Arabia’s workforce believes they can find a new job with better pay, reflecting a 25% increase in confidence compared to last year.
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Key Insights
High Confidence Among Workers
- Job Switching Confidence: Three out of five professionals feel they could easily find a new role if they leave their current job.
- Demand for Skills: There is significant demand for Saudi candidates with the right academic qualifications and work experience across all sectors.
Factors Influencing Job Market
- Recruitment Targets: Strict enforcement of rules requiring businesses to meet targets for hiring Saudi nationals is driving demand.
- Tech and AI Initiatives: Major governmental initiatives aimed at developing a tech and AI workforce are also enhancing job opportunities.
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Salary Trends
- Average Salary Increases: Currently, average salary increases are around 4.9%, indicating that pay alone may not be sufficient to attract new hires.
- Employee Expectations: Professionals are increasingly seeking benefits, growth opportunities, purpose, and long-term stability in their roles.
Future Considerations
- Incentives and Benefits: As professionals gain experience (typically after 2-3 years), they are likely to seek new positions that offer not just higher pay, but also better benefits and work-life balance.
- Attracting Top Talent: Companies may need to focus on providing rewarding work and flexible hours, as these factors are becoming crucial in attracting top talent, even if they struggle to compete on salary alone.
In summary, while confidence in job mobility is high among Saudi professionals, companies must adapt to meet the evolving expectations of their workforce to attract and retain talent in the competitive job market.
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