Hays Middle East releases the Saudi Arabia Salary Guide 2023 with insights into recruiting trends and salary data for over 190 roles across the Kingdom.
Hays Middle East, part of Hays plc, the global leader in workforce solutions and specialist recruitment, has released its latest Saudi Arabia Salary Guide. The guide provides comprehensive salary data for over 190 roles across 9 industries in the Kingdom, with the latest workforce trends based on expert insights and the analysis of a survey of almost 400 employers and professionals.
Commenting on the guide, Aaron Fletcher, Senior Manager at Hays Saudi Arabia, said: “A vibrant labour market and increasing salary growth, combined with a positive economic and employment outlook, make Saudi Arabia an attractive destination for job seekers.
The economy has emerged as one of the fastest-growing globally, defying global economic uncertainties. The impressive performance is attributed to the successful implementation of Vision 2030, which has introduced new initiatives and projects, helping to diversify the economy and generate non-oil revenue. The main catalysts for growth, expansion, and transformation are the flagship giga-projects, which span sectors and regions across the Kingdom.”
Bountiful opportunities for high-skilled talent:
The labour market in Saudi Arabia is robust and dynamic, with high levels of recruitment activity across various sectors. In 2022, 70% of employers reported that their organisation’s headcount increased, most commonly by more than 10%. This is a significant increase from the 43% of employers who reported the same in 2021, highlighting the country’s buoyant labour market.
Recruitment activity in the Kingdom shows no signs of slowing, with 89% of employers planning to recruit permanent employees in 2023. Most employers are focusing their recruitment efforts in-country in Riyadh (69%), Jeddah (56%), and/or the Eastern Province (41%). With organisations competing for the best talent, opportunities abound for individuals with the most sought-after skills.
Salary increases see year-on-year growth:
The Hays Saudi Arabia Salary Guide also indicates that 53% of employees received a salary increase in 2022. The most common rate of change increased from 5% or less to between 6% – 10%, reflecting salary growth in the country. A significant 79% of employers expect salaries within their organisation to increase in 2023, further indicating the economy’s positive trajectory.
Economic and employment outlook portrays confidence:
Optimism amongst employers in Saudi Arabia is high. Indeed, 70% feel positive about the wide economic climate and future employment opportunities for the coming years – though this is down on last year’s high of 79%. Despite this small decline, organisations in Saudi Arabia have confidence both in the macroeconomic climate and the labour market, evident from their ambitious plans to pursue growth and expansion.
With skills shortages and increased competition for local talent, employers must prioritise effective attraction and retention strategies to maintain a competitive edge.
Hays plc (the “Group”) is the world’s leading specialist in workforce solutions and recruitment, such as RPO and MSP. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK, Germany and Australia and one of the market leaders in Continental Europe, Latin America and Asia. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2022, the Group employed over 13,000 staff operating from 255 offices in 33 countries. For the year ended 30 June 2022:
– the Group reported net fees of £1,189.4 million and operating profit of £210.1 million;
– the Group placed around 83,750 candidates into permanent jobs and around 250,000 people into temporary roles;
– 16% of Group net fees were generated in Australia & New Zealand, 26% in Germany, 22% in United Kingdom & Ireland and 36% in Rest of World (RoW);
– the temporary placement business represented 55% of net fees and the permanent placement business represented 45% of net fees;
– Technology is the Group’s largest division, with 26% of net fees, while Accountancy & Finance (14%) and Construction & Property (11%), are the next largest
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, Thailand, UAE, the UK and the USA