Social review

Unbod — Employee Wellness Program

Unbod was launched in 2018 as a proactive approach to promoting employee health and wellbeing across our workforce. The program aims to motivate employees to prioritize their physical, mental and spiritual well-being by taking a holistic approach to health. A yearly calendar of annual initiatives are planned to promote community health in the workplace.

In 2023, we organized a Padel tournament at the SEDCO Arena Padel court located in the Company building. The court, which was set up and allocated for employees to play Padel, has seen an overwhelmingly positive response from staff. The tournament brought together 16 teams from different departments and portfolio companies, competing over 3 days.

A Ramadan Health Challenge involved collaboration with a reputed wellness company to promote wellness and healthy habits through incentives and engaging activities. The wellness company helped personalize programs for each employee through access to certified health coaches and a customized smartphone app with tailored nutrition and workout plans. The Health Challenge saw employees clock more than 2,000 hours of workouts and 1 million steps, burning more than 22,000 calories.

A Steps-Tracking competition was organized during the year, in partnership with a non-profit running club. Designed to inspire employees to embrace a healthy and active lifestyle, the challenge saw almost 50 participants who completed a total of 10,891,426 steps during the month-long event. We also organized health talks, a group-walk, and cycling day as part of wellness-focused experiences for employees.

Badir — Employee Volunteerism

SEDCO’s employee volunteering program, Badir, has been an integral aspect of our Company’s work culture for over six years, serving as a platform for employees to make a meaningful impact beyond their work roles. It plays a crucial role in fostering social cohesion among employees and building connections with local communities. Volunteering is a formal part of employee KPIs, with structured volunteering initiatives organized during work-hours that enable employees to contribute.

Badir provides a range of support services, including general assistance, specialized consultations, and coaching for students, entrepreneurs, and small businesses. Our aim is to promote social, economic, and environmental development in order to create lasting positive impact in our communities.

During 2023, the Company provided the opportunity for students from different Universities to visit and be introduced to SEDCO’s Legal, Audit, HR, and CCS departments and functions. These programs and visits provide vital industry exposure to youth who are making decisions about studies, career, and vocation.

Another highlight of employee volunteering in 2023, was consultations provided to start-ups by a committee of experts from SEDCO. Specialist staff from our teams worked with entrepreneurs, providing insight and consultancy before reviewing and vetting project / business ideas.

The potential

Start-up ventures and innovative entrepreneurs in the Kingdom are a vital component in a rapidly diversifying and developing economy. They have the potential to bring game-changing ideas that could transform sectors and create a lasting impact in the lives of entire communities.

Saudi Vision 2030 goals have outlined a path for the Kingdom’s startup ecosystem, including increasing the contribution of SMEs from 20% to 35% of GDP. In line with governmental commitment, a number of regulators and government institutions are lending their support to start-ups that have the potential to positively impact the economy, develop society, and propel economic growth.

The challenge

With the brisk pace of technological development across the globe, the startup ecosystem has become increasingly competitive. Despite having great ideas and sound business plans, entrepreneurs can still struggle to bridge knowledge and capacity gaps, or secure financing to scale and grow their ventures.

Studies conducted by the program have shown that as much as 79% of companies close business within the first three years of starting commercial activity, with entrepreneurs opting for self-financing and/or family support and soft-loans that limit the capacity for scale and hinder long-term business continuity.

Rowad’s answer

Delivering accessible and engaging content from industry experts to develop the skill-sets and capabilities of entrepreneurs, start-ups, and small and medium enterprises (SMEs). The Rowad program utilizes a modern e-learning platform and new learning techniques to provide vital knowledge and resources that address the unique needs of the Saudi startup ecosystem.

Learning modules and content include fundamentals of financial management, financing options, accounting basics, investment readiness, due-diligence, and the foundation of Shariah-principles in economic systems. Content is curated by industry experts including successful founders, investors, legal and financial consultants, and government counterparts. Offered in Arabic and English, learning content is delivered through a number of channels and means that cater to a variety of learning styles.

The program develops the capacity of entrepreneurs, equips them with the skills and connections to secure funding, and thereby contributes to the development of a vibrant and prosperous Saudi private sector, aligned with Saudi Vision 2030 goals. The Rowad Program was awarded Best Learning Technologies Project in appreciation of efforts to advance vocational training in the Kingdom.