The people factor
Developing and nurturing human resources is a major thrust of Tadawul's organization strategy. A key strategic objective is to improve the Organization Health Index (OHI) through focusing on communicating the organization direction and vision, bringing in a culture of positive reinforcement, and greater employee empowerment. In 2020, most of the planned strategic objectives remained in focus and many were achieved. However, due to the COVID-19 pandemic a few had to be postponed. The pandemic and the curfew precluded working in normal locations. Employees' working methods had to be rethought to facilitate remote working. They had to be provided the necessary hardware, connection facilities and tools, and awareness for working remotely.
Online access had to be granted to all HR platforms. New communication channels were also introduced to ensure that work flows continued smoothly. “E-learning” training solutions were introduced to replace physical training.
HR activities in 2020
Due to the pandemic, alternative solutions were found for some HR services that were formerly performed manually. During the period when physical meetings were not possible, internal and external communications were conducted through conference calls on a video conferencing medium. When necessary, special permits had to be obtained for the employees to travel during curfew hours. Foreign travel and visits from overseas were unavoidably curtailed. A remarkable event was the conducting of two virtual town hall meetings, with the CEO, the executive team, and the entire staff. These meetings resulted in an open discussion regarding the prevailing situation, challenges, and actions taken. It gave an opportunity for the staff to raise any concerns they were having.
Since employee engagement remained one of the focus areas, some initiatives to engage employees between each other have been conducted despite the pandemic situation. Programmes were redesigned to achieve the best possible outcome in the circumstances. The training priorities were decided on given the exigencies of the situation. Priority was given to new business products, working and leading remotely, and soft skills. A special training programme was developed for middle managers to hone their skills in managing teams remotely. Other online programmes were also tailored and delivered.
A survey was conducted to gauge the level of staff satisfaction and the response to the new working arrangements. The survey showed a generally positive response. As much as 94% of the staff viewed the distanced working arrangements favourably.
The story in numbers
It is significant that the staff turnover ratio has reduced substantially. While the percentage of time spent on training has reduced, this is understandable in view of the fact that many of the usual training programmes could not be conducted owing to the pandemic.
Training and development
|Number of training programmes||21|
|Total number of participants||317|
|Total training days||419 days|
|Training days per participant||1.3 days|
|Number of trained staff||153|
Our commitment to the Vision 2030 Goal of increasing female participation in the work force is demonstrated by the doubling of women employees with 0-5 years of service over the period 2016-2020.
Training programmes conducted
|1.||Data Analysis and Business Reporting Techniques Using Excel - Level 1|
|2.||Microsoft PowerPoint Techniques and Public Presentation Skills|
|3.||CME-1 Preparation Course|
|4.||Strategic Planning Course|
|5.||KPI Professional (KPI-P) Certification Programme|
|6.||Business Process Management BPM|
|7.||PMI Tools and Techniques|
|8.||Advanced Project Management|
|11.||Innovation in Digital World|
|13.||Sustainable Leadership a Corporate Social Responsibility|
|15.||Leading Creative Transformation in Critical Times|
|16.||Prime Brokerage - Assessment|
|17.||Introduction to Derivatives - Assessment|
|18.||Exchange-Traded Funds (ETFs) - Assessment|
|19.||Corporate Finance - Assessment|
|20.||Effectively Leading Teams Remotely|
|21.||Derivatives Awareness Session|
A key strategic HR objective is to improve the Organization Health Index (OHI) through focusing on communicating the organization direction and vision, bringing in a culture of positive reinforcement, and greater employee empowerment.
Employees by category
The steady increase in the ranks of middle management is noteworthy.
Employees by status
Employees by age group
|Over 51 years||17||15||12||17||11||-||-||-||-||-|
As employee engagement remained as one of the focus areas of the Exchange, initiatives to engage employees between each other have been conducted despite the pandemic situation.
Employees by service period
The fact that the number of female employees with service period 0-5 years has doubled since 2016 mirrors the increasing recruitment of females in recent years. This is also reflected in the increasing numbers of female staff in the age group 18-30 years in the employees by age group. This demonstrates our commitment to the goals of Vision 2030, one of which is increasing women's participation in the workforce.
Salaries and benefits
|Social security contributions||9,409,212||9,685,562||9,405,908||9,823,897||9,405,483|
|Total salaries and benefits paid||154,713,794||160,904,781||155,382,961||158,980,715||147,331,539|
The future outlook
We can be justly proud of the performance of our team in the midst of a national and global crisis. Our employees rose to the occasion with commitment and delivered outstanding performance, notwithstanding the constraints. The business continuity we achieved was a great contribution towards keeping the wheels of the economy turning.
Looking ahead, we intend to develop strategies and initiatives that will enable us achieve the development and growth objectives. With our achievements this year, despite the pandemic, we have full confidence in the ability of our team to continue to deliver.