Human Resources Development Fund: Employment Contribution Grows by 17% in 2024
The Human Resources Development Fund (HRDF) has highlighted a 17% increase in employment contribution during 2024 compared to 2023. The sustainability index of national workforce retention, measured one year after employment or program completion, reached 81%.
The Fund also reported that 437,000 citizens benefited from its supportive programs and initiatives aimed at empowering Saudis in the private sector. Furthermore, the number of beneficiaries of training, empowerment, and guidance programs provided by the Fund during the same period reached two million, marking a 5% growth compared to 2023. The number of establishments benefiting from the Fund's services during the same year exceeded 179,000 across various sectors and regions of the Kingdom, with a growth rate of 49% compared to 2023, including 95% small and medium-sized enterprises. The total expenditure on training, empowerment, and guidance support programs during the past year amounted to 7.5 billion Saudi Riyals.
The Fund emphasized its effective partnership with various government and private sectors to support and empower the nation's sons and daughters in obtaining job opportunities in the labor market. This growth in the number of beneficiaries who contributed to employment through training, empowerment, and guidance services for individuals and private sector establishments reflects the Fund's efforts to meet labor market variables and requirements, enhance efficiency, keep pace with developments, prioritize economic sectors, and develop programs that support national workforce training, empowerment, and professional guidance, in alignment with and contributing to achieving the Kingdom's Vision 2030 goals and labor market strategy.
