ENABLING a culture of organizational excellence

This pillar aims to strengthen the Group’s capabilities in technology, human resources, and finance to support future growth. By doing this, the Group will be able to execute its growth strategy and continue to scale up quickly in both the current and future business verticals with the necessary skills and resources.

This pillar consists of a number of initiatives, such as building organizational capacity by attracting and retaining highly qualified talent as well as working with leading local companies to find trainees. To further upskill employees’ knowledge base, specialized training programs are created and implemented across the organization to ensure that skills development aligns with changing business requirements.

In terms of staying up to date with technological advancements, the Group is also updating its information technology (IT) systems to enhance financial and operational reporting, speed up decision-making in response to crisis situations, and reduce data processing time. Likewise, the Group also intends to enhance security and support future growth plans by integrating technology.

Acquiring the right technology and talent

Systems automated

The number of tech startups and information technology companies in the Kingdom has increased quickly over time. The Group considers its employees to be one of its most valuable assets. As a result, it expends time, resources, and energy pursuing talent it believes would significantly enhance the Group and its culture.

Recruitment and retention

Recruiting the ideal candidates that suit the roles and fits well with the culture at Jahez has always been important. At Jahez, we believe that a candidate who fits well into a workplace culture is someone who not only possesses the required skills and qualifications for the job but also aligns with the values, norms, and beliefs of the Group. Our belief is that such a candidate can seamlessly integrate into the existing team and contribute to the success of the entire Group. They are able to adapt quickly to the work environment, understand the expectations of the job, and collaborate effectively with colleagues. Additionally, they exhibit a positive attitude, demonstrate strong work ethics, and are committed to the goals and objectives of the Group.

Considering the demography of the Kingdom, there is an abundance of young graduates entering the workforce that prefer more flexibility and movement rather than being tied to a single institution or sector and are seeking to rise through the professional ranks more swiftly than previous generations. With this focus, the Group strives to identify and recruit the best talent that would enable its growth phase.

In this regard, the agreements in place with some key local universities such as King Saud University (KSU), King Fahd University of Petroleum and Minerals (KFUPM), Prince Sultan University (PSU) etc., and initiatives such as boot camp programs with the Misk Foundation, SDA and Twaiq, helped the Group acquire and attract talents.

The Group prides itself in creating a supportive and inclusive work environment, where employees are encouraged to be creative, take ownership of their work, and contribute to the success of the Group. With a focus on innovation and continuous improvement, Jahez is committed to providing all employees with the tools and resources they need to succeed and thrive.

Employees by category

Grade	2022
Senior Management	7
Middle Management	60
Non-management	716

Localizing our talent

The Nitaqat program was implemented on 12/10/1432H (corresponding to 10 September, 2011) with the Ministry of Human Resources and Social Development commencing implementation of the “Nitaqat” program to encourage institutions to employ Saudi citizens. Through the “Nitaqat” program, the performance of any company is evaluated based on specific categories (classifications), namely platinum, green (subdivided into low, middle, and high), and red.

Companies in the platinum or green categories are deemed to have met Saudization requirements and are therefore entitled to a number of benefits, such as obtaining and renewing work visas or otherwise changing the occupations of their foreign workers (except for professions exclusively reserved for Saudi nationals). Companies in the “red” category (due to their non-compliance with specific requirements) are deemed to have violated Saudization requirements and may be subject to certain punitive measures, such as limiting their ability to renew foreign employees’ work visas or completely prohibiting foreign employees from obtaining or renewing work visas.

Accordingly, the Group complies with Saudization requirements in accordance with the Nitaqat program where its status is “Platinum” as of 19/08/1442H (corresponding to 1 April 2021).

Likewise, the Group’s tie-up with the Tamheer program run by the Human Resources Development Fund (HRDF), a six month training and recruitment program that supports the absorption of more local talent, assists in opportunities being afforded to a larger section of society.

Empowering our employees to be the best

The Group makes investments to make sure that its current employees have the systems, resources, and benefits that will encourage and retain them. As a result, the Group has implemented the initiatives listed below to retain talent:

• Fostering an environment that is supportive and receptive to new ideas
• Fostering a highly adaptable environment that results in a team that is uniform and highly connected, and that offers a place where all attitudes can be accepted while upholding the highest standards of communication
• Implementing flexible scheduling and remote work:
• If necessary, the employee may request to work remotely, and the Group’s Management will accommodate their request as long as working remotely has no negative effects on workflow or delays specific outputs.
• For those whose work and productivity are unaffected by the observance of a specific time, the Group provides the option to work flexible hours in terms of when employees arrive and leave the office.
• Fostering a culture of reward and recognition
• The Group’s Management is committed to motivating employees through an evaluation and reward system.
• The Group’s Management enhances the exceptional efforts of its employees by allocating exceptional rewards for certain business projects and tasks.

Training and development for future readiness

The Group runs a Transformational Leadership Program, which strives to enhance the leadership qualities of the Executive Management that covers the ins and outs of transformational leadership, with a focus on best practices for managing, leading and supervising diverse teams while running day-to-day operations.

Employee engagement

At Jahez, we believe that our success is directly linked to the engagement, motivation, and satisfaction of our employees. We recognize that our employees are our greatest asset, and we are committed to creating a work environment that promotes their well-being, fosters their growth, and enables them to reach their full potential.

The Group’s employee engagement initiatives are designed to create a culture of collaboration, innovation, and inclusivity. We actively seek feedback from our employees through surveys, focus groups, and other means, to understand their needs, concerns, and ideas. By actively soliciting feedback from our employees, we are better equipped to identify areas for improvement, address concerns promptly, and make data-driven decisions that benefit the Group as a whole.

Our employee engagement initiatives are diverse and include opportunities for career development, wellness programs, team building activities, and other initiatives aimed at promoting work-life balance and fostering a positive work culture. We also believe in creating a workplace that is inclusive, diverse, and welcoming to all, and actively promote equality and respect for all employees, regardless of their background or personal characteristics.

Our open door policy ensures that every employee has access to their managers, supervisors, and other leaders within the organization. It encourages employees to share their thoughts, concerns, and feedback freely, without fear of retaliation or judgment. We believe that this policy promotes a culture of respect, trust, and mutual support, which benefits everyone within the Group. This has also proven to be an effective means of fostering employee engagement, motivation, and satisfaction.

We are proud of the positive impact our engagement initiatives have had on our employees and the Group as a whole. By promoting a culture of engagement and collaboration, we have seen increased productivity, improved employee retention rates, and higher levels of job satisfaction among our employees. We remain committed to investing in our employees and creating an environment where they can thrive and contribute to the continued success of Jahez.

As a result of all of this dedication, the Group won the “Best Workplace” certificate from “Great Place To Work” in 2021 and 2022 respectively.

Employees Stock Option Plan:

The Company granted share-based payments arrangements to employees at the beginning of April 2022.

Jahez ESOP intents to serve the following major purposes:

• Attract Talent: to attract top recruits e.g. senior managers, executive managers and other technical team members;
• Retain Employees: options vesting over several years shall create strong incentives for employees to remain with Jahez;
• Align Incentives: options shall align incentives with the long-term goals of the company;
• Reward Value Creation: shall increase corporate valuation by giving employees a slice of that value; and
• Encourage Long-Term Thinking: shall push employees to build the company for long-term success.

On 8 June 2021, the Board of Directors proposed a shares options program which was approved by the shareholders on 9 June 2021. The objective of this plan is to distribute 192,000 treasury shares purchased by the Company from the Company’s shareholders under purchase of shares contract dated 26 December 2021 and concluded on 5 January 2022 115,2 thousand shares of its shares owned by ALAMAT International Company and 76,8 thousand shares of its shares owned by Hefz Osool Ta’atheer Company for Communications and Information Technology). The shares options will be granted through the plan in five cycles commencing 1 April 2022, 1 April 2023, 1 April 2024, 1 April 2025 and 1 April 2026.

The Company formulated the vesting agreement for the first cycle and it was signed by the Company and the employees on 1 April 2022, which is the vesting date of the first cycle of shares options. The condition associated with realizing shares options under the first cycle is the employee’s two-year service condition, which will be completed on 31 March 2024. At the end of the vesting period, the Company may elect to issue shares or cash equivalent to the fair value through the shares at the end of the vesting period.

During 2022, the Company vested Tier 1 of the program as the following:

First Cycle	Tier 1
Vesting date	1 April 2022
Total number of shares granted	26,440
The average fair value per share on vesting date (*)	SR1,116.5
Maturity date	31 March 2024
Settlement method	Equity

(*) The options are valued at the fair value on the vesting date of first cycle on 1 April 2022, using the Black Scholes method which takes into account the exercise price, option term, effect of reduction (where material), share price on the vesting date and expected fluctuation price of basic earnings per share, and expected dividend yield. Risk-free interest rate for the option term, contingencies and fluctuations for similar Group’s companies. The fair value of the option as on 1 April 2022, based on the exercise price of SR 10 is SR 1,116.5.