The Saudi Human Resources Development Fund (HADAF) recently announced that a total of 220,000 Saudi men and women have benefited from its employment support product, amounting to SR2.3 billion, during the first half of the year 2024. This product aims to enhance professional sustainability and increase the participation of young Saudi men and women in various fields and activities within the private sector labor market. The Fund provides financial support ranging between 30 and 50 percent, with a maximum amount of SR3000. Private establishments can submit support requests through the Fund’s website. HADAF is committed to supporting the employment of Saudis in private sector establishments and strengthening the partnership with relevant authorities to contribute to Saudization and achieve the goals of Vision 2030.
Through its programs and products, HADAF seeks to develop and improve the skills of Saudi men and women, increase their participation in the labor market, and encourage the private sector to contribute to Saudization. By partnering with relevant authorities, HADAF aims to train, employ, and empower national cadres to enhance their competitiveness and sustainability. The Fund’s strategy, launched in the first quarter of 2023, has led to increased benefit for individuals and establishments from its programs and services. The strategy focuses on enhancing the development of national human capital, improving the relationship between supply and demand in the labor market, and enabling and sustaining employment in the private sector.
HADAF’s employment support product has been instrumental in helping Saudi men and women achieve job stability in private sector establishments. By providing financial support and encouraging participation in various fields and activities within the private sector, HADAF aims to boost the employment of Saudis and contribute to Saudization efforts. The Fund’s support scheme offers financial assistance ranging from 30 to 50 percent, with a maximum amount of SR3000. Private establishments interested in receiving support can submit requests through the Fund’s website, HRDF.org.sa. This initiative aims to strengthen the partnership between HADAF and relevant authorities to enhance the skills and competitiveness of the Saudi workforce.
The strategic goals of HADAF include enhancing the development of national human capital, improving the relationship between supply and demand in the labor market, and enabling and sustaining employment in the private sector. By focusing on these key areas, HADAF aims to support the goals of Vision 2030 and contribute to the development of human capabilities and the labor market strategy of the Kingdom. Through its programs and products, the Fund seeks to empower Saudi men and women, increase their participation in the labor market, and stimulate the private sector to invest in national talent. By partnering with relevant authorities and training national cadres, HADAF is working towards a stronger and more competitive Saudi workforce.
The success of HADAF’s strategy, launched in 2023, is evident in the increased benefit for individuals and establishments from the Fund’s programs and services. By focusing on enhancing the development of national human capital, improving the relationship between supply and demand in the labor market, and enabling sustainable employment in the private sector, HADAF is making a positive impact on the Saudi workforce. Through its commitment to training, employing, and empowering national cadres, HADAF is contributing to the goals of Vision 2030 and promoting the development of human capabilities and the labor market strategy of the Kingdom. The Fund’s efforts aim to support the employment of Saudis in the private sector and strengthen the partnership with relevant authorities to achieve long-term sustainability.
