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stc
Annual Report
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A brief overview of stc
Group

 

,The performance, activities

and investments of stc Group

and its subsidiaries during

the year 2022

 

Risks management

and transactions with

related parties

 

Board of Directors and
Committees

 

Dividends Policy and Distribution

and Board Recommendations and

Compensation

 

Conclusion

 

Financial Consolidated

Statements

A brief overview of stc Group The performance, activities, and
nvestments of stc Group and
its subsidiaries during the year 2022 Risks management and transactions
with related parties Board of Directors and Committees Dividends Policy and
Distribution and Board
Recommendations and Compensation Conclusion Financial Consolidated
Statements
Human Resources & stc Academy

Human Resources

& stc Academy

Driven by vision 2030, stc brainstormed possible scenarios on how we would like to be seen within and across stc Group, and how can we echo successful HR practices elsewhere.

Saudization rate of

%87.4

Total women headcount in 2022 is

4,414

compared to 3,996 in 2021.

Hiring

(4,244)

Saudi Nationals.

As such, stc worked on a number of key HR initiatives that will take us to the next desired level, one of which is diversity and women empowerment. The high value stc places on diversity and women empowerment helped it to continue making a difference in improving the inclusion balance amongst its employees not only at KSA level, but at stc Group level as well.

The benefits of adapting a culture of diversity cannot be overemphasized, yet possible, through directing its Human Resource Business Partners (HRBPs) to work closely with stc business leaders to create an environment where everyone feels a sense of belonging.

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Below is a summary of the outcomes of those initiatives at stc Group level (including subsidiaries):

Hiring

(4,244)

Saudi Nationals.

Hiring

(4)

Fresh graduates.

Saudization rate of

%87.4

Total women headcount in 2022 is

4,414

compared to 3,996 in 2021.

Roles filled by women:

  • (2) VPs.
  • Increased GM roles by (25%), (10 GMs).
  • (54) Directors
  • Increased SM roles by (11.5%), (290) section managers.

Training
and development:

(8,838)

employees took part in training programs with a total of (+221,000)hours through various platforms.

(4)

Early retirement program beneficiary in 2022.

Key highlights at the Sectors and General Directorate levels under stc:

  • 1.1 Centre of Excellence (CoE):

    Being the think-tank of HR, our CoE Team have gone the extra mile and came up with a number of key HR initiatives and activities that would encourage stc employees to work more efficiently, stay with the stc for longer, and attract new talent as well.

    Capturing the competencies gaps, building Individual Development Plans (IDPs), develop stc employees along with introducing an appealing total rewards schemes, are some of the examples which allowed us to develop a workforce that is truly motivated toward excellence.

    In 2022, several key activities were launched to develop a workforce that is truly motivated toward excellence, such as:

    1.

    Launched JADARA framework and system, which aims to help stc to identify the competencies gaps and build IDPs to develop its employees and minimize the existing gaps.

    2.

    Automating workforce-planning procedures in 2022 to gain better control and visibility over workforce cost, distribution, and utilization, as well as to achieve optimal levels of workforce planning.

    3.

    Establishment and roll-out of the talent program (Job Attachment) for stc employees to collaborate with key strategic global partners.

    4.

    Launched strategic workforce plan on stc Group level, in order to establish stc Group’s right sizing to achieve stc Group’s strategic objectives.

    5.

    Launched Thrift Savings Plan, raising financial awareness and a culture of savings.

    6.

    Renewing the health insurance policy with a new service provider and introducing the Parent insurance benefit for stc Group’s employees.

    7.

    Introduction of stc long weekends policy.

    8.

    Design of total rewards programs for our new subsidiaries - Center3, IoT squared and SCCC.

  • 1.2 HR Business Partners (HRBPs):

    stc’s new HR operating model dictates on bringing its HRBPs more closer to business, supported by a vibrant pool of HR professionals who can leverage their HR experience, their business acumen and their financial expertise in order to bring the desired added value to stc business. The new stc HRBP model aims to shift mind-sets amongst both HR leaders and business leaders as well.

      The following illustrates an overview on the activities executed in 2022:

    • 1.2.1 Talent Development and Retention enablement:

      Nurturing stc Group employees through learning and development to elevate stc calibre, drive the organizational performance and boost productivity levels, while focusing on key talents through designed programs such as:

      1.

      Scholarship programs through elite Saudi universities (MBSC and King Fahd University of Petroleum and Minerals).

      2.

      Advanced and specialized technical programs to serve different business tracks such as Cloud infrastructure, cyber security, Legal, Audit, strategy, procurement and data analytics.

      3.

      Launched the Artificial Intelligence & Internet of Things Hackathon between Nokia and TSA sector targeting stc Group employees and university students.

      4.

      Collaborated with Misk Foundation to launch the virtual work program for Cyber security, and Corporate & data analytics sector.

    • 1.2.2 Organization Design & Workforce solutions:

      Collaborating with the all stc units to unlock the full capabilities towards growth services while maintaining leadership positioning in core services, by providing the appropriate HR and organizational solutions to add value to the business while focusing on customer centric.

  • 1.3 stc Academy

    At the beginning of 2022, the academy underwent a strategy refresh to align the academy strategic objectives with the organization and academy expectations of serving stc Group. In particular, on the following dimensions:

    1.

    Redefining the primary reasons for the Academy existence in order to build competitive, adaptable and inclusive workforce, infused with high spirits to make a leading professional career within the industry.

    2.

    Expanding the role of the Academy to become the right place to incubate and build the capabilities of bright and promising young technology savvy professionals and prepare them to cope with the challenges of the new digital era.

    3.

    Reimagining the Academy’s role as the right place to prepare potential leaders for the responsibility of leading their business areas at stc Group level.

    Keeping in mind all of the above, stc refreshed Academy’s strategy to focus on (4) major pillars:

    1.

    Position the academy as the Group learning & innovation hub.

    2.

    Upskill stc’s employees to deliver stc Group’s strategy and meet its strategic objectives.

    3.

    Build academy internal capabilities to deliver learning solutions and experiences internally.

    4.

    Foster a positive culture and greater innovation throughout stc.

      The following illustrates an overview on activities executed in 2022:

    • 1.3.1 Leaders & Professionals School

      1.

      Growth and Expansion: executive program uniquely designed and customized to be aligned with stc’s business needs and optimized to support the “E” pillar of the DARE 2.0 Strategy.

      2.

      Emerging Leaders for stc Women Program targeting 22 directors & section managers from stc Group.

      3.

      Qiadya Program delivering leadership sessions and assessment services as part of the Qiadya Program’s journey to enhance the leadership capacities of Saudi Women.

      4.

      The Corporate Leadership Program includes 15 cohorts for stc Group, with 370 graduating from the program (potential leaders, managers and department managers).

      5.

      Digital Excellence Program: aims to equip stc middle management with the needed digital knowledge through interactive experiences, case-studies, knowledge sharing opportunities and simulations.

    • 1.3.2 Academy Business Enablement

      1.

      Innovation & Design thinking sessions which included: 7 TIP mini Jams, 2 Sectorial mini jams and 3 Hackathons.

      2.

      Digital Library that managing access to 5 digital learning libraries (Coursera, LinkedIn Learning, SkillSoft, Harvard MentorManager and Udacity) resulting in providing stc Group’s employees with access to more than 31,000 courses.

      8,000

      courses

      3.

      Knowledge Transfer Program (KTP): develops internal talents and utilizes their expertise and shares knowledge to support the learning and development needs through

      8

      Courses/Sessions and

      191

      Registered KTP Trainers and

      8+

      trainees.

    • 1.3.3 National projects

      1.

      Prince Mohammed Bin Salman College (MBSC) strategic partnership: to nurture a new generation of transformative leaders with unique entrepreneurial competencies.

      2.

      FAKHOOR Program: a graduate development program aimed at training capable Saudi youth to join the Ministry of Defense for more than

      3

      months of different tracks.

  • 1.4 Strategy Planning & Culture

    stc’s HR strategy aims to be recognized as an HR ‘Model of Excellence’ in the MENA region through agile, digital, and innovative experience by 2025.

    stc Group’s HR strategy focuses on investing in stc’s most valuable assets “the employees”. By acquiring, developing and retaining employees in an Innovation-fostering environment through multiple initiatives and projects to develop talents, enhancing the employee journey in every touch point to increase productivity and maintain efficiencies levels as well.

    Throughout 2022, People Experience & Engagement General Department made extensive efforts to design the best possible workplace environment related solutions along with activating focus areas such as enhancing inclusion of disabled people through building guideline, disability aspiration, sign language campaign, and etc.

    In addition, stc’s Culture Department put extra efforts in order to enhance stc organizational health and culture thru reducing silos, enhancing accountability & ownership and increasing the engagement of Females & new joiners.

    As an additional contributions to dare strategy, HR Analytics & Technology Enablement departments continuously work on digitization & automation practices, and ensuring effective decision-making for business leaders, which resulted into receiving a recognition by Informa Future Workplace Awards as the Best HR Analytics Strategy.

    The following illustrates an overview on activities executed in 2022:

    HR Analytics

    1.

    People Digital Assistant Chatbot & Ask HR Chatbot released in Hub.

    2.

    Work-from-Home Analytics that support enhancement on telecommuting policy.

    3.

    Attrition Analytics use case to predict employees’ turnover.

    4.

    Employee Productivity platform that presents productivity level for all employees.

    Technology Enablement:

    +40

    HR Services enhancement.

    Handled more than

    800

    access requests change requests and system issues and inquiries.

  • 1.5 Human Recourse Services

    HR continues to provide stc employees with the needed HR services in an efficient and effective manner, while ensuring smooth and uninterrupted business, through continuous improvement of digitizing its HR services, upgrading employee wellbeing programs and complying with all applicable laws and regulations.

    HR services has always been responsible for HR communications where a clear, effective and supportive employee communications are always circulated at stc Group level.

    The following illustrates an overview on activities executed in 2022:

    1.

    Supporting stc to win two Labor Awards by Ministry of Human Resources and Social Development (MHRSD) thru facilitating the labor awards program internally and managing the relationship with the ministry overall.

    2.

    Led some of talent acquisition practices and provided guidance for subsidiaries at Group level such as:

    a.

    Sponsoring one of the largest career fairs in the Kingdom (Glow Work) representing stc and solutions.

    b.

    Supporting critical projects such as establishing new subsidiaries (IoT squared\Center3\SCCC) by providing the right talents and headhunting agencies.

    3.

    Enhancing the employees’ onboarding journey by engaging the business partner and line manager in the process to guarantee optimum performance acceleration for all new joiners.