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Assessment of the Human Capital of an Enterprise and its Management in the Context of the Digital Transformation of the Economy

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  • E.V. Orlova

Abstract

Current technological development amid the fourth industrial revolution inevitably changes the nature and conditions of work. The quality of human capital constitutes a significant contribution not only to labor productivity growth, but also contributes to the growth of social connections, loyalty and trust by employees. It increases the market share and the competitiveness of products. Consequently, the problem associated with improving the quality of human capital as the most important productive resource of a company is relevant, timely, socially and economically significant. The aim of the study is to develop a technology for human capital management based on a new methodology for assessing human capital and a scheme for the formation of individual trajectories of professional development, ensuring an increase in the quality of human capital and an increase in the company's efficiency. The proposed method for assessing human capital is designed to identify the digital twin of an employee and takes into account such traditional characteristics as age, education, professional experience and competencies, as well as additional characteristics - social status, health quality, inter-professional competencies, motivation and involvement, and provides a comprehensive assessment of human capital in enterprises in the course of digital transformation. Based on the results of the assessment of human capital, management decisions are developed for the individual trajectories of professional development design, aimed at increasing labor productivity and contributing to the companies’ operational efficiency growth. Experimental studies have been carried out on the use of the proposed technology for human capital management based on the data of a large oil-producing enterprise in the Republic of Bashkortostan. It is shown that the introduction of individual trajectories of professional development makes it possible to increase labor productivity by 6–7 % in the next 2–3 years, the company's revenue by 5–7 % and profit by 2 %. The theoretical significance of the results is concerned with the identified features of the human capital of a company associated with the health quality, the development of interdisciplinary knowledge, skills and abilities, motivation and involvement which should be taken into account during the process of assessment. The developed technology provides support for making managerial decisions for working out individual trajectories of employees’ development. The practical outcome of the study is the methods for human capital assessment and its development, which ensure the labor productivity growth, companies’ revenue and profit increase with minimal cost.

Suggested Citation

  • E.V. Orlova, 2021. "Assessment of the Human Capital of an Enterprise and its Management in the Context of the Digital Transformation of the Economy," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 20(4), pages 666-700.
    • Handle: RePEc:aiy:jnjaer:v:20:y:2021:i:4:p:666-700
    DOI: http://dx.doi.org/10.15826/vestnik.2021.20.4.026
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    Cited by:

    1. Ekaterina V. Orlova, 2022. "Impact of Companies' Social Capital on Person's Innovativeness in Russia: Economic Mechanisms and Diagnostic Tools," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 21(3), pages 545-575.

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    More about this item

    Keywords

    human capital; individual trajectories of professional development; companies’ human capital assessment; labor productivity management.;
    All these keywords.

    JEL classification:

    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation

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