Maharah Human Resources Co.'s initiative to Saudize jobs in the private sector has been approved by the Saudi Ministry of Labor, its CEO Yousef Alghafari told Argaam in an exclusive on Thursday.
"Maharah will effectively contribute to increasing Saudization rates in the private sector, driven by its strategy that aims to attract high-skilled cadres," Alghafari said.
“The related regulations are currently being set, so as to allow HR firms to effectively contribute to the Saudization levels,” he added.
Maharah currently holds a 20 percent market share. However, the sector has 39 licensed firms with a combined market share of just 2 percent.
“This gives room for the entry of new players to achieve high growth rates,” Alghafari said.
Read: Maharah Human Resources posts 7% profit rise in FY2018
Maharah employs cadres in various sectors, such as banking, healthcare, industry and commerce. The enterprises business accounts for 75 percent of the company's operations, in addition, to the retail sector, which provides opportunities for individuals in home care, cleaning and transport sectors across the Kingdom and the UAE.
"We recorded outstanding results in six years and hired more than 70,000 employees.
Meanwhile, Maharah offered its services to over 800 firms in the enterprise sector and 65,000 clients," Alghafari noted.
He also mentioned that the company will continue to boost Saudizaion rates in the private sector in line with the Saudi Vision 2030.
Maharah stock started trading on the Saudi Stock Exchange (Tadawul) on June 18, Argaam reported.
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