The Saudi Arabia HR Outsourcing Market is projected to grow at a CAGR of around 7.2% in the forecast period of 2024-30, says MarkNtel Advisors in their recent research report. Saudi Arabia’s Economic Diversification Vision 2030, to attract notable investments across the service & manufacturing sector, is widely catalyzing this demand. The country is witnessing the rapid adoption of digital transformation across various industries to enhance operational efficiency.

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4. Market Insights
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. The market growth is attributed to the surging focus
of the Saudi government to diversify their economic revenue from
service-based industries. The focus has been surging as part of
Saudi Arabia’s “Vision 2030”, launched in 2016, under which the
government announced various programs like the Financial Sector
Development Program, Health Sector Transformation Program
Privatization Program, National Transformation Program, etc. These
programs have helped attract many local & foreign investments to
the country, which, in turn, is driving the need for HR outsourcing
services for hiring human resources & managing business
operations efficiently.

5. Market Drivers
Growing Inclination Towards Shared Services Augmenting the
Market Growth – The demand for shared HR outsourcing is rising in
Saudi Arabia due to the evolving needs of businesses and
government entities for enhanced operational efficiency & cost
savings. In today's era, organizations are increasingly recognizing
the importance of achieving full integration to seamlessly connect
with customers, suppliers, and multi-site company locations
worldwide.
As Saudi Arabia is working towards diversifying its economy, both
public & private sector entities in the country are focusing on their
core competencies. This leads to increased outsourcing of non-
core functions like shared HR services that would help them
allocate resources more strategically.

6. Market Segments
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.])
By End User (Oil & Gas, BFSI, Hospitality, Healthcare, IT &
Telecom, Public Utilities, Others)
By Region (Central, East, West, South)

7. Top Companies
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.

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