Human Capital And It’s Relevance In The Modern Labour Market Development

23 May 2017

The development of technologies, has changed all spheres of economics including the labour market.Automation of processes, the development of robotechnics, the creation of neural network and artificial intellect more and more enter into our reality and “machines” begin to compete with humans for work positions. Simple production functions, and slowly but in ever increasing volumes functions are given to automated services and robots.If an employed person gets into a difficult situation, naturally he is stimulated either to study or to upgrade his qualification in an attempt to overcome concerns raised and to become valued in his employment. That’s why each country (especially Russia) has a goal to develop intellectual economics, the economics of knowledge – the sphere for opening the opportunities of each person. This sphere is characterised first of all by social profile. This social profile includes the task to improve a person’s welfare through their own self-realisation, healthy lifestyle and harmony of professional success which will promote enhanced personal comfort. Development of economy of knowledge, is an opportunity to reduce the growing risk of social tension and provide conditions for those people who want to improve their situation to grow and progress and to reap the rewards that this will provide them. This can create a contagious effect and inspire people previously not of a mind set and nature to improve themselves to adopt the opportunities given.

We measure the level of human capital development and the level of intellect economics development applying such criteria as labour market development as a whole. We also measure individual performance according to the efficiency of the HR process inside each separate company and according the level of professional self-realisation and satisfaction of each individual achieves. 

Today we observe a difficult situation in Russia and it is far from an ideal one. Applying all above mentioned parameters, the level of Russian’s loyalty to their employers is very low and their employers suffer a shortage of employees’ enthusiasm, competence and performance. The Labour market lacks flexibility and is not adoptive to new formats of labour management that have been developed alongside and in harmony with modern technologies’ development. In this survey we present the results of our researches that open these aspects in details.

Type of publication: Industry report

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