Saudi Arabia HR Outsourcing Services Market 2024-2030: Size, Demand, Growth Forecast – MarkNtel
Saudi Arabia HR Outsourcing Services Market Overview
As per recent research by MarkNtel Advisors, the Saudi Arabia HR Outsourcing Services Market is projected to grow at a CAGR of around 7.2% during the forecast period, i.e., 2024-2030.
Saudi Arabia HR Outsourcing Services Market Dynamics
Market Drivers : 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.
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Saudi Arabia HR Outsourcing Services Market Segmentation Overview 2024-2030: Key Factors
By Services
-Payroll (Payroll Management, Loans & Other Benefits Processing, Payroll Master Data Management, Pension Administration, etc.)- Market Size & Forecast 2024-2030F, USD Million
-Benefits Administration (Health Insurance, Retirement Accounts, Vacations & Leaves, Employee Visa Processing Services, Employee Data Administration, etc.)- Market Size & Forecast 2024-2030F, USD Million
-Recruitment Process (Talent Acquisition, Recruiting, etc.)- Market Size & Forecast 2024-2030F, USD Million
-Learning Services (Talent Development & Management, Employee Collaboration & Engagement, etc.)- Market Size & Forecast 2024-2030F, USD Million
-Multi Process Human Resource (HR Tools, Workforce Planning & Analytics, Budgeting, Integrated HR Services, etc.)- Market Size & Forecast 2024-2030F, USD Million
-Others (HR consultancy etc.)- Market Size & Forecast 2024-2030F, USD Million
By End User
-Oil & Gas- Market Size & Forecast 2024-2030F, USD Million
-BFSI- Market Size & Forecast 2024-2030F, USD Million
-Hospitality- Market Size & Forecast 2024-2030F, USD Million
-Healthcare- Market Size & Forecast 2024-2030F, USD Million
-IT & Telecom- Market Size & Forecast 2024-2030F, USD Million
-Public Utilities (Aviation, Infrastructure Facilities, Ports, etc.)- Market Size & Forecast 2024-2030F, USD Million
-Others (Education Institutions, etc.)- Market Size & Forecast 2024-2030F, USD Million
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Saudi Arabia HR Outsourcing Services Market Geographical Insights:
By Region:
-Central
-East
-West
-South
Key Players and Competitive Strategies in the Saudi Arabia HR Outsourcing Services Market
Several prominent players dominate the Saudi Arabia HR Outsourcing Services Market, including:
- Sovereign Group
- Nathan & Nathan
- Miza Business Solutions
- Tharwah
- Respeed
- IRSAA Business Solutions
- ETISAL International
- Marcom Arabia
- Raya Customer Experience
- Other
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Questions Addressed in this Study
1.How big is the Saudi Arabia HR Outsourcing Services Market Size?
2.What is the Saudi Arabia HR Outsourcing Services Market Growth?
3.Who are the key players of the Saudi Arabia HR Outsourcing Services Market?
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