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Saudi Arabia is the world’s largest oil producer and exporter and controls the world’s second largest hydrocarbon reserve. It's the only Arab country to be a part of the G20 countries, the Organization of Islamic Cooperation and OPEC. The country’s global standing has created substantial business opportunities and has become a preferred destination for many foreign investors.
The outsourcing industry is rapidly growing in Saudi Arabia and has fundamentally changed how businesses operate. Companies prefer to outsource non-core tasks and focus on their core competencies. This approach is useful and helps companies grow, however, to get the most out of outsourcing, companies need to consider how it can be used strategically rather than tactically. Tactical outsourcing is problem solving based, for example, a lack of capacity in the finance department may force a company to outsource their tax and zakat reporting to fill the capacity gap. On the other hand, strategic outsourcing focuses on aligning outsourcing with the company’s long term objectives. It assists companies in achieving a competitive advantage and repositioning themselves in the market. It also allows companies to spend more time on core activities that are crucial to success and that can’t be outsourced.
The Ministry of Labour recently introduced the Contracts Authentication service which will require employers to upload all their employee contracts onto the portal and have employees verify them. The service will be applied to companies in phases and is mandatory - employees of companies that do not register their contract are permitted to transfer employer without approval. Companies must authenticate their employee contracts for all employees, including those who joined the company after the deadline. Below is the timetable companies must follow to complete the contracts authentication, depending on the size of the company.
Earlier this year, the Ministry of Labour introduced the Qiwa portal to improve the current government e-services offered to employees. Since then, the portal has been updated to enhance the service quality and user experience.
Outsourcing and shared services have evolved from a cost-efficiency model to an innovative value-creation model. This has opened doors to creative ways for organizations to thrive in the market despite legalities, regulations, mergers, acquisitions, scaling, and growth.
Saudi Arabia is the second most popular destination for outsourcing and shared service (OSS) providers in the MENA region. The Saudi OSS industry is the fastest growing in the region. Approximately a quarter of all SSCs are based in Saudi and the majority of outsourcing providers in the MENA region are too.
2019 Q4 Labor Statistics Released The General Authority for Statistics (GASTAT) in Saudi Arabia has released the fourth quarterly labor market bulletin of 2019 through its official website on April…
Today, shared services are powered by technology to deliver more efficient, standardized and automated operational processes which allow companies to do more with less
The Ministry of Interior (Jawazat) announced last week that valid health insurance is mandatory when applying for an extension of duration of stay for Saudi visit visas. Those visiting the Kingdom for Umrah, Haj or on diplomatic visas and visitors to diplomatic missions are exempt. Visitors to the Kingdom must have valid health insurance documents to extend their stay and it must be renewed before its’ expiry date. The extension must be submitted to the immigration department at least 6 days before duration of stay expiry date to avoid mishaps in linking medical insurance with immigration.
Government processes are a core part of doing business in Saudi Arabia and they can be complex. With the right support you can operate compliantly, however, if your government relations processes are not managed diligently, this can cause problems for your business
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Phone: +966 11 411 1127
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Phone: +966 11 411 1127
E-mail: [email protected]
Phone: +966 11 411 1127
E-mail: [email protected]
Phone: +966 11 411 1127
E-mail: [email protected]
Phone: +966 11 411 1127
E-mail: [email protected]
Phone: +966 11 411 1127
E-mail: [email protected]