Companies in Saudi Arabia are continuing to focus on employee well-being, work-life balance and learning opportunities. Getty
Companies in Saudi Arabia are continuing to focus on employee well-being, work-life balance and learning opportunities. Getty
Companies in Saudi Arabia are continuing to focus on employee well-being, work-life balance and learning opportunities. Getty
Companies in Saudi Arabia are continuing to focus on employee well-being, work-life balance and learning opportunities. Getty

Where are the best places to work in Saudi Arabia in 2023?


Deepthi Nair
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Family-run conglomerate Al Dabbagh Group has been named as Saudi Arabia’s best workplace in the large category this year as companies in the region continue to focus on employee well-being, work-life balance and learning opportunities in the post-coronavirus era.

Luxury retailer Chalhoub Group, PepsiCo, international hotel chain Hilton and logistics company DHL Express rounded off the top five, according to a survey that was released on Friday by management consultancy Great Place to Work.

The consultancy defined large companies as those with more than 500 employees.

Other companies in the list include building and construction materials company Masdar, the Diriyah Gate Development Authority, Savola Foods, consulting firm Deloitte Global, the Saudi Industrial Development Fund, market regulator Capital Market Authority and Apparel Group, the consultancy said.

“As a part of their organisational strategy, great workplaces throughout Saudi Arabia compete across different sectors in providing great workplace environments for all employees to ensure winning the war of local talent,” said Tanzeel Rehman, Great Place to Work Middle East's managing director for Saudi Arabia and Bahrain.

“We are very happy to see a growing awareness in Saudi Arabia in providing great workplace environments for all employees.”

The list recognised 25 large, 35 small and medium, and the top 25 micro organisations across Saudi Arabia for their efforts, the consultancy said.

Hiring in Saudi Arabia’s non-oil sector in December increased at its fastest pace since 2018, driven by “robust” business activity, according to the Riyad Bank Saudi Arabia purchasing managers’ index.

The kingdom has created tens of thousands of new jobs as part of its plan to develop $1 trillion worth of new projects to meet its Vision 2030 plan of diversifying the economy away from hydrocarbons, according to the General Authority for Statistics.

Recruitment specialist Hays said in December that hiring activity in the kingdom would be highest in the manufacturing, logistics and industrial sectors.

Salaries in Saudi Arabia are expected to rise by an average of 3 per cent in 2023, driven by a surge in new jobs created by mega-projects such as Neom, as well as the setting up of operations by organisation in the kingdom, according to recruitment experts.

Flexible working will be key to retaining and hiring talent, with many professionals preferring remote work options, according to LinkedIn data.

Meanwhile, US technology company Cisco has been named as Saudi Arabia’s best workplace in the small and medium category in 2023, the survey showed.

Small companies are defined as those with between 51 and 100 employees, while medium companies hire between 101 and 499 workers, according to the consultancy.

Cargo and freight service company DHL Global Forwarding, cyber security provider Sirar by STC, medical device company Medtronic and investment group Al Muhaidib Holding Company rounded off the top five best workplaces in the small and medium category this year.

Other companies in this category include real estate developer Kinan, pharmaceutical group Servier, cosmetics company L’Oreal, Asharqia Chamber, contracting company Amaq and AstraZeneca, the consultancy said.

Biotechnology company Biogen was ranked the best workplace in the micro category in Saudi Arabia.

Chemicals company Dow was ranked second in the micro category, followed by HR software provider ZenHR and executive search firm Top Talent Solutions.

Companies that hire between 10 to 50 employees fall in the micro category.

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The survey included companies in sectors such as retail, social services and government agencies, transportation, finance and media.

Companies based in Saudi Arabia that fall within these industries and employ 10 or more workers are eligible to participate in the survey. They are assessed based on employee feedback and an audit of management and HR practices.

Top 10 best workplaces in the large category in Saudi Arabia in 2023

1. Al Dabbagh Group

2. Chalhoub Group

3. PepsiCo

4. Hilton

5. DHL Express

6. Sami Advanced Electronics Company

7. Dar Al Riyadh

8. Masdar

9. Diriyah Gate Development Authority

10. Savola Foods

Top 10 best workplaces in the small and medium category in Saudi Arabia in 2023

1. Cisco

2. DHL Global Forwarding

3. Sirar by STC

4. Medtronic

5. Al Muhaidib Holding Company

6. Kinan

7. Servier

8. L’Oreal

9. Asharqia Chamber

10. Amaq

Top 10 best workplaces in the micro category in Saudi Arabia in 2023

1. Biogen

2. Dow

3. ZenHR

4. Top Talent Solutions

5. AlHadaya Centre

6. Trahum

7. Elevation United Property Management Company

8. Khobar Health Network – Al Kornaish

9. Air Products Qudra

10. Majd Arabia

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Updated: February 17, 2023, 12:57 PM