Identification of social and economic factors of human capital development in HRM

Abstract

Goal: to rank the socio-economic factors of extension of human capital.

Research methodology: the conceptual dominant of the research methodology is the statement about the possibility of considering human capital as a multi-parameter socio-resource component of the vector of sustainable innovative development of a modern organization. The validity of this statement is illustrated by the solving the poorly structured task of identifying the determinants of a decrease in the unemployment rate (one of the key parametric characteristics of human capital) that is relevant using a system of interrelated methods of system analysis and econometric modeling.

Findings: evidence of the possibility of using expert-econometric tools for a comprehensive multifactorial assessment of the variation in the parametric characteristics of humancapital and the choice on its basis of priority areas for its development (increment); identification and ranking of statistically significant factors that determine the main vectors of the strategic policy for the development of human capital.

Originality and contribution of the authors: this study substantiates the algorithm for systemic expert-econometric analysis of the determinants of human capital growth using the TOPSIS method, which has demonstrated effectiveness in terms of completeness, objectivity and clarity of the results of multi-criteria assessment in a complex system of managing the human resource component of sustainable innovation economic trends. Using the results of the study to analyze the causes of fluctuations in the unemployment rate and identify (rank) the most significant of them will help increase the sustainability of human capital development management.

Keywords:

human resource management, human capital, unemployment rate, factors, strategy, expert- econometric model, TOPSIS method