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Saudi Arabia HR Outsourcing Services Market Size in USD: A Comprehensive Forecast for 2024-30

Saudi Arabia HR Outsourcing Services Market

Market Overview: Saudi Arabia HR Outsourcing Services Market

MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on Saudi Arabia HR Outsourcing Services Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

Saudi Arabia HR Outsourcing Services Market Insights 2024-30

The Saudi Arabia HR Outsourcing Services Market is estimated to grow at a CAGR of around 7.2% during the forecast period 2024-30.

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Driving Innovation: Exploring the Saudi Arabia HR Outsourcing Services Market and its Key Drivers
Saudi Arabia HR Outsourcing Services Market Driver – Complexity of Compliance & Labor Regulations Leading to a Surging Adoption of HR Outsourcing Services

Saudi Arabia has a highly regulated labor market with numerous laws, regulations, and compliance requirements. The country has strict labor laws, such as the Labor Law, Nitaqat (Saudization) program, and the Wage Protection System (WPS), which require meticulous adherence by employers. The introduction of reforms like the Labor Reform Initiative (LRI) in 2022 has added to the regulatory landscape. These regulations encompass areas like labor contracts, employee rights, wages, working hours, and expatriate worker quotas.

These rules are frequently updated, making it challenging for businesses, especially those new to the country, to stay compliant. Thus, businesses that are expanding their presence in Saudi Arabia are opting for outsourcing HR services to gain business expertise in navigating this complex landscape.

Additionally, non-compliance with labor laws & business standards in Saudi Arabia results in penalties and operational disruptions. Thereby, fueling the demand for HR outsourcing services to mitigate these risks & maintain good standing with government authorities in Saudi Arabia.

Top Players in the Saudi Arabia HR Outsourcing Services Market:

Sovereign Group, Nathan & Nathan, Miza Business Solutions, Tharwah, Respeed, IRSAA Business Solutions, The First national Human Resource Company (FNRCO), ETISAL International, Marcom Arabia, Raya Customer Experience, Other

Saudi Arabia HR Outsourcing Services Industry Recent Development:
  • 2022: RAYA CX, signed a strategic partnership contract with Zain Saudi Arabia a communications and digital service company. Under this partnership deal, RAYA CX would provide outsourcing services to Zain Saudi Arabia.

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Segmentation Analysis of Saudi Arabia HR Outsourcing Services Market

Saudi Arabia HR Outsourcing Services Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

By Services

-Payroll (Payroll Management, Loans & Other Benefits Processing, Payroll Master Data Management, Pension Administration, etc.)

-Benefits Administration (Health Insurance, Retirement Accounts, Vacations & Leaves, Employee Visa Processing Services, Employee Data Administration, etc.)

-Recruitment Process (Talent Acquisition, Recruiting, etc.)

-Learning Services (Talent Development & Management, Employee Collaboration & Engagement, etc.)

-Multi Process Human Resource (HR Tools, Workforce Planning & Analytics, Budgeting, Integrated HR Services, etc.)

-Others (HR consultancy etc.)

  • Multi-process Human Resource services are gaining noticeable traction in Saudi Arabia.

By End User

-Oil & Gas

-BFSI

-Hospitality

-Healthcare

-IT & Telecom

-Public Utilities (Aviation, Infrastructure Facilities, Ports, etc.)

-Others (Education Institutions, etc.)

  • The Hospitality sector is speculated to hold a prominent share of Saudi Arabia HR Outsourcing Market in the forecast years.

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A Comprehensive Geographical Analysis:

By Region

-Central

-East

-West

-South

Why Choose Us?

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

Being one of the most efficient market research companies in India, our specialized team of experienced & efficient market research professionals is capable of grasping every minute and valuable information & data of the market to offer our clients with satisfactory details. Our company has served the biggest market research firms in India at leading positions and is proficient in managing all types of market research projects.

About Us

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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