The HR Development Fund in Saudi Arabia is among multiple government authorities that have announced new initiatives to mitigate the impact of COVID-19 on the private sector. The Kingdom’s 30-program initiative is unprecedented and has recorded major success in early inspections, as Saudi Arabia ranks first in consumer confidence globally. The HR Development Fund has devised a series of plans in an initiative to support, employ, train and empower Saudis, investing SR5.3 billion in the initiative.
The initiative aims to support private-sector employees whose employment began as of June 1st, 2019 with SR1 billion.
30% of a qualified employee’s salary will be paid during the first and second year of employment (24 months) according to the following:
Employees can apply through the national platform for employment, Taqat. They must meet the following conditions:
The HR Development Fund also announced further initiatives to support, employ, train and empower private-sector workers, investing SR2 billion benefiting 100,000 private sector job seekers, adding options and necessary tools to work remotely. Another SR1.5 billion is invested to support 100,000 job seekers, and SR800 million is dedicated to recruiting 100,000 trainees in the Fund’s training program. Applicants can register at the HR Development Fund’s platform.