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Management Discussion and Analysis



Our strategic approach

Just as technology is a major enabler of excellence in a securities market, so are human resources. Tadawul’s HR policies and practices are geared towards aligning the staff and their development to contribute to the goals of the Stock Exchange. In the process they also build dedication and commitment among the staff who in turn see an alignment with their own career development. Considering the fast moving industry we are in, we need to identify and nurture talent, provide our employees with fulfilling job roles, and create a “can-do” work culture. We also need to provide the leaders of today with the necessary skills and competencies to perform their roles, while preparing the leaders of tomorrow to take on greater responsibilities. Appropriate training and development programmes have to be crafted for the different levels of staff. The essence of our HR strategy is that we develop a robust employee value proposition that will not only attract the cream of the talent but retain and nurture the existing employees.

A conducive working environment has to be built within which our values will be inculcated to the employees. Fair and equitable reward schemes are necessary to keep our staff motivated. For Tadawul employees to make the contribution required of them towards the development of the Exchange, it is necessary to develop a creative engagement process rather than an operational one.

The organisational design and job roles have to be aligned to the Exchange’s goals and strategies. The process of revamping the organization structure of Tadawul and its subsidiaries commenced during 2018. In 2019, we continued the process with an eye on best design practices which fit the Organization’s needs. Redrawing the organization structure was carried out with specific organization functions in mind. This brought about closer alignment with corporate objectives and business requirements. To complement this, job roles have also been designed to facilitate effectiveness and a smooth work flow. With the increasing demands of the market and operations there were demands for greater technical skills and professional competencies. New recruitment channels were introduced to fulfil these needs.

Extensive leadership development programmes were introduced for executives that were developed after assessing the skills of the current executive team. The training provided them with comprehensive programmes that included coaching, mentoring, and leadership training. In addition, middle management development programmes (MMDP) were introduced as well, based on relevant assessments conducted by the employees. MMDP has been targeting leadership and behavioural competencies through developing the candidates with top leadership schools worldwide. This would in turn promote sustainable leadership and facilitate succession planning. New reward structures were put in place to align our pay management practices with goals and targets. New allowances and benefits contributed to this end. Career progression plans were introduced in 2018 to increase employee motivation.

The fruits of this are now evident from the fact that employees have a clearer vision of their career future. The above mentioned policies and practices have succeeded in instilling a performance-based culture. They have also helped inculcate a “can-do” attitude among the employees. Enhancing employee experience was a key HR objective during 2019. A number of activities were conducted to this end including team building exercises. During 2019, all key HR objectives were achieved as planned. However, some employee engagement and development plans had to be postponed to 2020 due to the focus on Aramco listing.