The executive search market in Saudi Arabia is poised for significant growth, with an estimated value of $2.2 billion by 2026, growing at a CAGR of 6.4%. Several factors drive this growth, including multinational companies seeking qualified executives, the high demand for talent in the oil and gas, construction, and healthcare sectors, and the increasing use of technology in executive recruitment. However, the market also faces challenges such as a scarcity of qualified talent, high costs associated with executive search services, and a need for more transparency in the search process. These challenges can hinder the effectiveness of executive search firms in finding suitable candidates for their clients. Despite these challenges, the executive search market in Saudi Arabia is expected to continue its growth trajectory due to the increasing demand for talent and technology adoption in recruitment processes. As the market expands, addressing the challenges will be crucial to provide quality services and meeting the evolving needs of clients in Saudi Arabia.
The executive search market in Saudi Arabia offers significant opportunities for firms in the industry. The demand for executive search services is rising with a rapidly growing economy, a large pool of skilled professionals, and government support for the business sector. Key opportunities in the market include executive recruiting for multinational companies that are expanding their operations in Saudi Arabia, recruiting for government agencies implementing the Vision 2030 plan, and supporting the recruitment needs of local businesses experiencing rapid growth. However, not all executive search firms will be able to respond in a way that supports the rapid growth in the region. Only those that can truly differentiate themselves, have a local presence, and overcome legacy recruitment processes have a strong potential to succeed in the Saudi market.
“The Saudi government’s requirement for foreign companies to establish regional headquarters in Riyadh presents an opportunity for the executive search market in Saudi Arabia. As companies comply with this policy, they must recruit and hire executive-level professionals to lead and manage their regional operations. This will drive demand for executive search services in Saudi Arabia.”
~ Waleed Al Ahmadi, Managing Partner, N2Growth Saudi Arabia
The Saudi government’s requirement for foreign companies to establish regional headquarters in Riyadh presents an opportunity for the executive search market in Saudi Arabia. As companies comply with this policy, they must recruit and hire executive-level professionals to lead and manage their regional operations, driving demand for executive search services in Saudi Arabia. The policy aims to diversify the Saudi economy, attract foreign investment, improve the business environment, and reduce reliance on oil. While there are mixed reactions from the business community regarding the policy’s impact, the Saudi government’s commitment to economic diversification suggests a long-term opportunity for executive search firms to assist foreign companies in establishing their regional headquarters and finding top talent in Riyadh.
Our firm is ready and already supporting clients in Saudi Arabia and is uniquely positioned to address the challenges and leverage the opportunities in the executive search market in Saudi Arabia:
- Scarcity of qualified talent: N2Growth has a global network and experience finding and recruiting top executive talent. Using techniques to produce the largest top of funnel for pipelining candidates coupled with industry connections and deep knowledge of the Saudi Arabian market we have been able to find highly qualified executives with the talents and experience required for Saudi clients.
- Executive search services are expensive: N2Growth provides cost-effective and efficient solutions. We offer a straightforward fee structure to provide an experience that streamlines and reduces expenses while delivering high-quality results for clients.
- Transparency in executive search: We have been disrupting the industry for years with transparency because we prioritize it to create a trusting partnership with our clients.
- Competition, cultural differences, and linguistic barriers: Our global footprint and local multilingual team deliver customized executive search solutions that resonate with local clients and prospects.
N2Growth actively sought to be in the Saudi Arabia market to support the growing base of new clients there. We understand the talent challenges that are presented as international corporations expand into and out of the region, as recruitment heats up for government agencies adopting Vision 2030, and as local enterprises rapidly grow.
Overall, our global expertise, network, cultural adaptability, and commitment to transparency make our team well-suited to address the challenges and leverage the opportunities in the executive search market in Saudi Arabia.
“We are confident that our unique approach to executive search can help you find the right talent for your organization.” ~ Waleed Al Ahmadi, Managing Partner, N2Growth Saudi Arabia
