Young Saudis quit gold market jobs

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gold Shop

Nearly 97 percent of young Saudis working in gold sector are leaving the sector in Makkah region, local media said, quoting officials.

A member of the national committee for precious stones at the Council of Saudi Chambers (CSC) admitted that full Saudization of the gold sector has adversely affected the sector through the exit of the experienced foreign workers, who are badly needed by the (local) markets.

According to Ahmed Al-Sharif, member of the national committee for precious stones at the CSC, key reasons for the resignation of young Saudis from the gold sector are attributed to long working hours, absence of full information before entering the market and wages, which do not conform to their aspirations.

Bakr Al-Saigh, head of the gold committee at Makkah Chamber of Commerce and Industry (MCCI), said the quitting of experienced foreign workers has enormously harmed the sector as part of those workers went to the neighboring countries, got their citizenship and returned to the Kingdom as investors.

He called for the introduction of a unified contract whereby the resigning employees should pay costs of training courses if they do not complete the prescribed period with the employer(s).

He also called for the application of secret security on the gold stores to protect Umrah performers and Hajis from buying bogus gold and fake jewelry.

Work affiliation in the sector is stronger among women than men, which makes the turnover rates among women substantially less. Based on statistics, turnover rates among women are not exceeding 5 percent compared to 97 percent for men.

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