The stages of increasing human capital are usually called. Do you know what “human capital” is? National human capital and historical development of countries and civilizations

The wealth of any country is its people. In the future, the country's economic growth is possible from increasing funding for such areas of the economy as the quality of the workforce, human capital, healthcare, culture and infrastructure. The development of human material, intellectual and spiritual capabilities, the accumulation of human capital becomes an important task of the state. The main priority of the country's budget expenditures is investment in human capital, and such expenditures are education, health care and culture.

The greater potential each member of society has, the higher the intellectual resource of the entire country, the more dynamic the rate of economic growth, the greater the opportunities of society. The development of human potential in Russia involves:

Creating favorable conditions for the development of the abilities of each person, improving the living conditions of Russian citizens and the quality of the social environment;
- increasing the competitiveness of human capital and the social sectors of the economy that support it.

Economic growth currently depends on the degree of formation of human capital, which is the process of expanding the knowledge, skills and capabilities of the people of a country.

Human capital refers to the knowledge and skills embodied in a person, which play an important role in determining labor productivity and the ability to absorb new knowledge and master new technologies and innovations.

The formation of human capital takes various types, forms and passes through various stages of the human life cycle. The factors on which the formation of human capital depends can be combined into the following groups: socio-demographic, institutional, integration, socio-mental, environmental, economic, production, demographic, socio-economic. The institutional environment necessary for an innovative socially oriented type of development in the long term is formed as a result of the development of human capital, and above all: education, healthcare, the pension system and housing. In order to ensure the implementation of the functions of financial markets in terms of the formation of human capital in Russia, the following is provided:

Increasing the affordability of housing for citizens through mortgage mechanisms, promoting the use of financial instruments to stimulate the development of the housing market as a whole;
- increasing information transparency and openness of the consumer lending market;
- expanding opportunities for citizens to use educational loans;
- assistance in increasing the level of protection of the quality of life and personal well-being of citizens through life and property insurance;
- promoting the development of additional pension insurance mechanisms.

The conceptual model of the formation of human capital in the socio-economic system at various levels of its development: society, region, enterprise is shown in Figure 1.

The formation of human capital is a continuous ongoing process through which an individual achieves his highest potential and strives to integrate and optimize the combination of ongoing processes such as education, job search, employment, skills formation and personality development. Thus, the formation of human capital is associated with investments in people and their development as a creative and productive resource.

The formation of human capital is a long process of increasing the productive qualities of the workforce, ensuring a high level of education and improving skills. Human capital formation is critical to a country's long-term economic growth and provides the same benefits of new innovative technologies and more efficient industrial equipment. The interaction of people with each other influences the dissemination of knowledge in society. The transfer of knowledge in itself is not a value.

The process of human capital formation takes time (15 – 25 years), often leading to a higher standard of living for people within a country over several generations. The formation of human capital can be achieved through the use of government policies in the fields of health, education, culture and professional training.

The leading role in the formation of human capital that creates the knowledge economy is given to the cultural sector, which is due to the following circumstances:

The transition to an innovative type of economic development requires increasing professional requirements for personnel, including the level of intellectual and cultural development, which is possible only in a cultural environment that allows one to understand the goals and moral guidelines for the development of society;
- as the personality develops, the needs for its cultural and creative self-expression and the development of cultural and spiritual values accumulated by society grow. The need to satisfy these needs, in turn, stimulates the development of the market for cultural services.

Thus, society is critical to the formation of human capital.

Each generation forms its human capital from scratch. The formation of human capital begins before the birth of a child, when parents, through their behavior and decisions, determined the outcome of the child’s birth. A person from birth is endowed with unskilled labor, which does not require training and can be supplied to the labor market. An individual’s human capital is formed from childhood and is considered formed at the age of 23–25 years.

Every child aged 3–4 years develops a culture of completely free access to any information. The development of a child’s abilities gives him the opportunity to freely manage his talents, to put as many concepts, skills, and abilities into his toolkit as possible. The development of a child is influenced by the results of his education, which can subsequently affect the development of the labor market. The amount of human capital acquired through the learning process depends on innate abilities. The main period for the formation of human capital is the age from 13 to 23 years. This is the period of hormonal explosion, puberty, when nature gives the growing body a surge of enormous energy. This energy must be transformed (sublimated) at the stadium in order to improve health, at the student bench and in the theater, in order to receive education and culture, learn to set and achieve goals in life, and overcome obstacles. A person can become a skilled worker by acquiring human capital, which is characterized by a high content of knowledge, promotes innovation and the development of new ideas. Formed human capital provides a person with a stable income, status in society, and self-sufficiency.

A feature of the process of human capital formation is that:

Longevity makes the acquisition of human capital relatively more attractive for people of all ability levels;
- increased innate abilities facilitate the acquisition of human capital.

The knowledge and skills embodied in a person are difficult to separate from human health, which also determines labor productivity. Public health policy is key to effectively building human capital. Access to health care and proper nutrition increases life expectancy and helps people become more effective at work. As the life expectancy of the population increases, it is beneficial for society to use the experience and skill of people, which allows them to do their jobs more efficiently.

The basis for the formation of human capital is the acquisition of new knowledge and skills. Skill development is becoming a priority for the country's economic development. Education is an important tool for the formation of human capital. Education improves the quality of life of people and their exercise of their civil rights and responsibilities. Education enriches a person's life by developing cognitive and social skills and by informing people of their rights and responsibilities as citizens.

Workers with higher education are more productive than those with secondary education. Workers with secondary education are more productive than those with primary education, and workers with primary education are more productive than those without education.

Educated people have higher skills and are capable of effectively performing their work, and have a wider arsenal of tools to solve emerging problems and overcome difficulties. They are also better suited to perform more complex jobs, which often involve higher wages and greater economic benefits.

For well-being and human well-being, the formation and accumulation of human capital is the main goal of the state’s economic policy. State forms of education are one of the most important means of forming human capital among low-income groups of the population. People from low-income segments of the population, without access to physical and financial resources, while having a high cost of their own human capital, acquire the opportunity to earn money and influence the level and quality of life.

Countries can invest in public schools as well as adult education to reap these benefits and also help build human capital.

Building human capital through education and training promotes investment, enhances the development and adoption of new technologies, and increases productivity per worker. However, the relationships between education, inequality, human capital creation and economic development and growth are complex and often unique to a country's context.

The accumulation of human capital precedes economic growth and serves as the basis for economic growth. The process of human capital accumulation represents investment in education and training. Investments in education are a tool that influences the labor income of people's life cycle. The degree of accumulation of human capital varies by culture, country, and region of residence of the bearer of human capital. Human capital can accumulate until a person retires. The accumulation of human capital, being endogenous, responds to incentives associated with changes in technological knowledge. Human capital accumulation endogenously tends to zero some time before retirement. Older workers have low motivation for professional training (retraining).

Developed countries have more financial resources to invest in human capital accumulation. In less developed countries, labor productivity is very low. To increase this potential there is a need to form human capital. In developing countries, the formation of human capital is carried out by the provision of public services for the introduction of new production methods and the creation of an education system.

The development of human capital occurs through the creation of comfortable living conditions: income growth, good roads, landscaped yards, modern medical and educational services, as well as a cultural environment.

The state of human capital in least developed countries is reflected in the Human Capital Index indicators related to the level of education, health and nutrition:

Percentage of population undernourished;
- mortality rate among children under five years of age;
- general indicator of children's education in secondary school;
- literacy rate among the adult population.

The complementarity of human and physical capital in an economy leads to accelerated investment in human and physical capital in the long term.

Along with the priority development of human capital and the service economy, the most important sector for the realization of knowledge, employment and income generation in the next 10–15 years will be the basic sectors of industry, transport, construction and the agricultural sector. It is in these sectors that Russia has significant competitive advantages, but it is here that the main barriers to growth and failures in efficiency have accumulated. Intensive technological renewal of all basic sectors of the economy, based on new information nano- and biotechnologies, is the most important condition for the success of innovative socially oriented development and the success of the country in global competition.

Increased productivity of the workforce can be increased by providing higher levels of education and skills.

The formation of human capital increases the income, level and quality of life of people, and is also an important factor in increasing labor efficiency.

Bibliography

Order of the Government of the Russian Federation dated November 17, 2008 N 1662-r (as amended on August 8, 2009) “On the Concept of long-term socio-economic development of the Russian Federation for the period until 2020” // “Collection of legislation of the Russian Federation", 11.24.2008, N 47, art. 5489.

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Alderman, H., J. Behrman, V. Lavy, and R. Menon. 2000. Child health and school enrollment: A longitudinal analysis.Journal of Human Resources 36(1): 185–205.
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Human capital (HC) is the body of knowledge and skills that are used to meet the needs of individuals and society. This term has been used since 1961 thanks to the American economist Theodore Schultz. His followers developed this topic, describing factors, methods and other features of human capital development.

History of the issue

Information about the development of human capital began to actively appear in the scientific literature in the second half of the twentieth century. This term and the foundations of the theory were introduced into circulation by economists Theodore Schultz and Gary Becker, for which they later received the Nobel Prize. The emergence of the theory of human capital became a kind of response to private economic theories to the need in the real economy. The role of man and his potential in society was not fully revealed. Through an in-depth analysis of economic processes, human capital was identified as the main factor in the development of society.

For a long period of time, the understanding of human capital was limited to the knowledge and skills of an individual, and was also considered an exclusively social category. Any investment in a person (for example, in education) was considered unproductive. By the end of the twentieth century, attitudes towards this category changed. According to Fisher, human capital embodies a person's ability to generate income.

Having studied the experience of advanced countries, Simon Kuznets came to the conclusion that accumulated human capital is the main condition for economic development. And economist Edward Denison emphasized not only the quantity, but also the quality of human resources (namely, the importance of education). Over time, the importance of health, emotional state, material well-being of workers and other factors was described.

Modern theory of human capital

Based on many years of research, a certain theory of human capital has emerged. It can be briefly described by the following provisions:

throughout life acquires and accumulates knowledge, skills and abilities, applying them in various fields;
growth in material well-being influences interest in the further development of human capital;
in order to increase labor productivity and increase economic efficiency, it is advisable to use human knowledge, skills and abilities;
abandoning current needs in favor of building labor potential leads to an increase in the level of well-being in the future;
motivation and stimulation are necessary conditions for the acquisition and accumulation of knowledge, skills and abilities.

How human capital is formed

If we consider the formation of human capital using the example of an individual person, we can conclude that on average this process takes 15-25 years. As a rule, it begins at 3-4 years. By this point, the child already has enough information to start developing talents and acquiring knowledge. Of course, one should not write off innate potential. Further self-determination and self-realization depends on how successful learning is in childhood.

The most significant period in terms of personal development is considered to be the period from 13 to 23 years (approximately). At this time, the most active general, creative and professional learning occurs. The higher the level of accumulated knowledge, the greater the opportunities in terms of increasing one’s own well-being and improving the life of society as a whole.

There are several types of human capital. Namely:

General - all knowledge and skills, regardless of sources of acquisition and ways of application.
Specific - special knowledge and skills that have practical value.
Positive - accumulated human capital that provides a positive return on investment.
Negative (or passive) - human capital that does not provide a positive return.

Cheka structure

The development of human capital occurs in several directions. Its structure is shown in the table:

Factors in the development of CC

Researchers identify several groups of factors in the development of human capital. They are described in the table.

Groups of factors	Factors
Socio-demographic	The number of employed and unemployed people with details by region; Division of the employed population by economic sector with detail by region; Length of working period.
Social-mental	Prevailing values and norms of behavior in society; The value of knowledge; Focus on self-development.
Production	Demand for labor; Working conditions; Training; Social development.
Demographic	Population size; Sex and age structure; Population growth rate; Lifespan; Migration processes.
Institutional	The legislative framework; State policy in the field of social development; Rights and opportunities of different segments of the population.
Environmental	General environmental situation; Quality of drinking water; Food quality; Natural factors and climate; Sanitary and hygienic provision of labor; Recreational base.
Socio-economic	Level of education and professional training of the population; Incentive and motivation system; Social infrastructure of enterprises; Level of technical and economic development of enterprises; Income of the population; Availability of goods and services; Tax system.

Principles of Human Capital Management

Human capital management is carried out on the basis of certain fundamental principles. Namely:

Viewing human capital as an asset requiring investment rather than a liability requiring expenditure.
Coincidence of the enterprise’s business model with the human capital development strategy.
Application of new methods, approaches and technologies in human capital management.
A balanced approach to motivating and stimulating labor resources.
Targeting of investments in the formation of human capital.
Regularity of quantitative and qualitative assessment of human capital.
Scientific validity of activities.

Human Capital Development Index

The situation in the field of human resource development varies from country to country. An indicator such as the human capital index helps to conduct a comparative analysis. It is calculated and published annually by the analytical department of the World Economic Forum together with specialists from Harvard University and a reputable consulting company.

To assess how human capital is developing in a particular country (a total of 122 economies are analyzed), scores are given from 0 to 100. The score is given as a result of assessing several parameters, namely:

income (expressed in gross domestic product per capita);
education (calculated based on the level of literacy among the population, the proportion of children and youth enrolled);
longevity.

As of 2017, the leaders in the human capital development index were Finland and Norway. At the bottom of the ranking are Senegal, Mauritania and Yemen. Russia is in 51st place on this list.

Measures to develop the Cheka

The level of human capital development in a country largely depends on the efforts of the government. Here are the most popular measures common in the world:

ensuring housing affordability (as a rule, we are talking about favorable conditions for mortgage lending, as well as creating conditions for the development of the real estate market);
ensuring accessibility of education (both primary, secondary and higher);
increasing the level of well-being of citizens (in particular, by creating a sufficient number of jobs);
providing a sense of personal security through the development of affordable insurance programs;
ensuring longevity of the population through the development of the medical system and ensuring labor safety;
development of new forms of pension insurance.

Innovative approach to development

Time dictates its conditions, and therefore there is a need for new ways of developing human capital. The innovative approach involves the following measures:

establishing connections between educational institutions and the business environment;
development of new educational services and corresponding methodological support;
introduction of modern technologies and software into the educational process;
interstate exchange of innovative techniques;
development of a consulting base.

Features of investments in CHK

When studying the problem of human capital development, it is worth paying attention to investments. We are talking about financial investments in education, healthcare, science, social issues and so on. Investments in HC have the following key features:

Efficiency is directly related to life expectancy. The sooner financial injections begin, and the longer a person’s working age lasts, the greater the return will be.
They multiply and accumulate, despite the tendency to moral and physical wear and tear.
As soon as a person becomes unable to work (regardless of the reason), the effectiveness of investments decreases sharply.
If investments in human welfare involve illegal activities, they cannot be considered investments in human capital.
The return on investment does not come immediately; it can be noticeable after 10-20 years.

Features of human capital in Russia

Russia is a huge country, which is characterized by some heterogeneity in terms of opportunities for the population. Thus, the development of human capital in the Far East, Siberia or the southern regions (and so on) will be somewhat different. However, if we make generalized calculations, the national averages will be as follows:

Life expectancy (based on health assessment and actual longevity) is 70.3 years. It is worth noting that this is not the best indicator and is at the level of countries characterized by average human capital development.
The literacy rate of the population (based on the number of years people spend studying) is 15 years. The expected length of education for future generations is trending downwards at 12 years. Despite the negative dynamics, these indicators are quite good and are typical for countries with a high level of human capital.
The standard of living (estimated by gross per capita income at purchasing power parity) is $23,286 (RUB 1,577,000). This indicator is typical for countries where human capital development is at an average level.

Problems of human capital in the domestic space

Are there problems in the development of human capital in Russia? Of course, there are also a lot of them. Here are the manifestations of the Cheka crisis that domestic researchers highlight:

the critical situation regarding the financing of science and education, which has a direct negative impact on the quality of scientific research and teaching;
depreciation of human capital in some areas of the economy, which leads to intellectual unemployment;
the formation of a surplus of highly qualified personnel in some industries, which is associated with a reduction in funding;
a tendency to reduce the level of income of people with higher education, which becomes the reason for looking for side jobs or changing a profession to a low-skilled one;
brain drain abroad;
insufficiency or absence of market-oriented knowledge among the political and economic elite;
discrepancy between the qualifications of officials and new economic and social conditions;
shortage of quality teaching staff;
socio-psychological tension caused by economic and political instability, as well as a change in the usual behavioral model.

The development of human capital is perhaps the most important task of the company. Moreover, this question has recently been raised on the scale of an entire country as an indispensable condition for its development and prosperity on the world economic arena.

You will learn:

What is the basis for the formation and development of human capital.
What kind of investments can be made in the development of human capital.
How human capital can influence the innovative development of an enterprise.
Why manage human capital development.
How to assess the level of human capital development in an organization.
What problems does the development of human capital have in Russia?

How companies can properly develop human capital

The more mental baggage a company has, the higher its competitive advantages, the better and more efficiently it can organize its production process, ensuring the optimal transformation of intangible resources into tangible capital.

Highly qualified specialists can increase the attractiveness of a brand and influence the profitability of an organization. To a large extent, the value of an enterprise is determined by innovation; it can be easily increased by financially motivating employees.

Today, more and more companies are coming to the realization that not only financial capital determines the actual value of a business. Intellectual capital is the main strategic element of industry. In the figure you can see the relationship between intellectual capital and the actual value of the organization:

Financial capital of the organization- This is not only cash, but also shares and other securities.

Intellectual capital of the organization– this is the mental baggage of the staff. Knowledge is the basis of an enterprise’s wealth, intangible assets that improve the quality of production processes. They are the ones who create added value for the enterprise.

Improving business with the help of intellectual capital is not theoretical research, but actual practice. Through this asset, you can successfully manage profits, create new products and attract customers.

Intellectual capital should be understood as all those information resources that are at the disposal of the company. Intellectual capital is a combination of human, structural and relational capital. Intellectual capital also includes information capital, intellectual property, customer capital, brand awareness and learning capital.

The knowledge that forms intellectual capital can be explicit or implicit, but it always has a useful function.

Human capital of the organization arises due to the presence of personnel. It is formed through the knowledge, talents, abilities and competence of employees. This process is long-term and goes through several stages.

Initially, there is a search and selection of candidates who will later form human capital, then the relationship is formalized.
In the future, the employer interests and motivates employees to work more actively and productively.
In the process of cooperation, investments are made in human capital through the development and training of employees.
And finally, a merger and/or acquisition occurs.

In general, a company’s human capital consists of several elements that can be reflected in the form of formula (1):

The share of influence of human capital on the value of a business ranges from 30 to 80%, depending on the sector of the economy. But one way or another, the contribution of people to the profitability of the organization is the determining factor. Human capital improves competitiveness. And capital is directly formed from the skills and abilities of employees, through whose efforts goods and services are produced.

Some people confuse the concepts of human capital and human potential. The main difference between these interchangeable terms is that capital creates the market value of a company through employee participation in building success. This is a very important factor in the development of an organization. It is the employees who create the added value of the enterprise.

What does the formation and development of human capital depend on?

Due to the fact that the development and economic prosperity of the country directly depends on the specialists who inhabit it, the priority concern of the state can be called ensuring the improvement of the capabilities of citizens (intellectual, physical and spiritual). This task is being solved within the framework of achieving the goal of human capital development, which will inevitably lead to an increase in the potential of the entire society, as well as an increase in the resource of the country as a whole. High opportunities for society depend on the dynamics of economic growth. So, the development of human capital is one of the key tasks of our time. What is needed to solve it?

First of all, to develop the abilities of each member of society and company employee, the most favorable environment should be created, which is practically unattainable without improving living conditions in general.
Secondly, it is necessary to increase the competitiveness of not only human capital itself, but also those sectors of the economy that provide it socially.

Specialists who work to solve the problem of improving human resources are sociologists, economists and psychologists. Their tasks include developing issues of human capital development at three levels:

development of the individual (micro level);
development of the state as a whole (macro level);
development of enterprises, commercial companies (meso level).

At the state level, human capital is collected through the efforts of all members of society and is a national wealth and asset. Within each region, its own similar resource is formed, and then it is combined throughout the country.

In order to ensure the development of human capital at the regional level, the economic activities of economic entities in a given area should be improved. Next, the human resource is summarized based on the results of each enterprise in the region. Accumulated human capital ultimately determines the level of socio-economic development of the territory.

To measure human capital, adding up the number of employees is not enough. It is necessary to calculate all their abilities, knowledge, and the amount of available information. After all, it is this potential that activates production at one level or another and determines the degree of performance of the company.

Each person has personal capital; within a social group, all individual achievements are collected into subsystems with a hierarchical structure. By connecting with each other, personal capital forms social capital. If human capital for one individual plays an important role in terms of opportunities to achieve a certain quality of life, then across an entire region or country as a whole, this resource can serve as a means of achieving more global goals.

A person exists in the labor market with his own abilities, skills, and abilities. He brings income to his family and the enterprise where he works. But within the whole region it also acts as a social link. It can be called the building block of the economy of the region and the country as a whole.

An individual worker gives his abilities to the commercial or state enterprise (municipal) where he works. And such an enterprise, together with many others, creates a social or economic basis for the life of society.

Those talents and abilities that a person has are partly innate and partly acquired by him throughout his life. The task of the enterprise is to create for its employees such socio-economic conditions in which it will be easiest to increase human capital. Ultimately, all acquired knowledge will be spent for the benefit of society and will be released into the environment where the highest quality of life and the most comfortable conditions for work, development and intellectual activity are achieved.

The development of human capital is a long-term process; it can take many different forms and types, passing through all stages of the life cycle and being influenced by various social circumstances. All these factors can be divided into groups: economic, production, demographic, as well as socio-demographic, socio-economic, environmental and many others.

Human capital is formed and improved in the process of social production. The optimal environment for its development is comfortable living conditions. If a person has an increase in income, has affordable and high-quality medical and educational services at his disposal, an excellent cultural environment and comfortable living conditions, then the development of human capital will occur in the best possible way. Such conditions can be achieved with the help of appropriate state policies in the field of education, culture, healthcare, improvement, infrastructure, etc.

The numerical expression of the common resource can be viewed in the indicators of the human capital development index. These values are directly related to the level of education, access to quality food, and healthcare. They reflect:

percentage of the population deprived of adequate food;
percentage of child mortality (under 5 years of age);
percentage of children completing secondary education;
percentage of literacy among adult citizens.

To ensure the formation and development of human capital, the state must take measures to:

increasing the affordability of housing, creating favorable conditions for mortgage lending, and using such financial instruments that will contribute to the development of the housing market;
increasing the accessibility of the consumer lending sector, increasing information openness;
increasing opportunities for citizens to use educational loans;
ensuring a high level of well-being of citizens, personal security, development of life and property insurance programs;
improving the conditions of additional pension insurance.

A person achieves his highest potential by overcoming a long continuous process of formation and development of human capital, which involves factors such as education, employment, and the presence of favorable conditions for improving skills and becoming an individual.

On average, the period of human capital development takes from 15 to 25 years. We take the zero level as the initial level. Each member of society begins to develop their knowledge, skills, and abilities from scratch.

The process of human capital development begins in childhood, at the age of three or four. The child is provided with information with which he gets the opportunity to develop his talents, improve and increase his knowledge and skills. How successfully he studies will determine his future self-determination and the opportunity to realize himself and find application for his abilities in the employment market. But the potential given to a person from birth still plays a huge role.

The most significant period in the process of human capital development is the teenage period (13–23 years). It is impossible to form and develop human capital without regularly replenishing the arsenal of skills and abilities. If a person is not engaged in vocational training, if he has not devoted time and effort to his education, there is no need to talk about the development of human capital. The higher the level of knowledge a person has, the more he can improve the life of society. It turns out to be a continuous process. Highly qualified professionals create comfortable living conditions for humanity, contribute to the growth of production and economic advancement, enrich the national culture, thereby creating the prerequisites for the formation of even more highly developed individuals.

The development of human capital is a task that directly contributes to the growth of investments, the introduction of new technologies and increases the rate of return of employees from such investments.

Investments in business: step-by-step instructions for finding and attracting investors

A practitioner tells

Creating conditions for staff self-development is a strong foundation for the formation of the organization’s human capital

Marat Nagumanov,

Director of the research and production company "Packer", Oktyabrsky (Bashkortostan)

We have set ourselves the goal of achieving a leading position in the sector of self-learning companies. My firm position is that without developing a production culture and creating comfortable conditions for people to work, it is impossible to demand self-improvement from them. And comfort at work means not only the presence of comfortable furniture, a modern computer, the creation of a sufficient level of lighting, and the provision of clean and comfortable uniforms. For favorable working conditions, it is important to achieve a number of other factors.

We need a leader whose example will captivate employees. In order for the employee to receive more, the return on capital must be increased. It's not just about salary. Total income also includes social payments. In our case, these are paid sessions in the pool, fitness classes, trips to a sanatorium, lunches at the expense of the company, and high-quality medical services on the job. The more comfortable the employer creates conditions in the workplace, the more willingly people give their strength, capabilities, and abilities for the benefit of the enterprise. Moreover, they strive to improve their level in order to become more indispensable and in demand at their job. But here the figure of the leader is also of great importance. The most visible and respectable employee in the team is an example and incentive for colleagues. I won’t lie, I try to be that kind of leader myself. Employees see my determination: I often attend various lectures and conferences, thematic events, trying to improve my own competence. Following me, many employees express a desire to participate in seminars and study modern equipment in different cities and countries.

The motivation system should be aimed at improving qualifications. It is very important to create a holistic remuneration mechanism that will be transparent to the entire team. If employees understand how they can increase their salaries, they are more likely to work in this direction. At the moment, our company is planning to introduce job descriptions that will include information about the scope of issues for which the employee is responsible, about the skills that he should have and that he should develop, and about the projects in which the employee should take part , and about the indicators that should be achieved by him as a result of his work. Each instruction will be valid for a year. The increase in the employee’s salary will directly depend on compliance with its points. For example, according to an employment contract, a person has a salary of 10 thousand rubles. To increase it, you will have to acquire new skills, which will be listed in detail in the instructions. At the end of the year, management will check the level of achievement of new knowledge and skills. If the outcome is positive, the employee’s salary will be increased.

But managers should remember that any innovation brings results after a certain period of time. We are currently building a new system, but we expect results no earlier than after a year of putting it into operation. We can feel the initial dynamics already at the start. Thus, we see that an employee’s efficiency directly depends on his level of satisfaction with working conditions.

Investments in human capital development

The development of human capital, like any other asset, requires investment. Investments made for the development of human capital are certain actions carried out with one goal - to increase labor productivity. We can include the following events:

organizing ways to maintain health;
incurring expenses associated with obtaining education;
organization of vocational training in production;
costs of finding a job, collecting information on prices and wages;
expenses associated with migration, as well as with the birth and upbringing of children.

All investments in the development of human capital are usually divided by specialists into:

investments in education (special or vocational training, on-the-job retraining, self-education);
investments in health care measures, including disease prevention, special nutrition, improving living and working conditions, as well as improving the quality of medical care;
investments in the migration of workers to places with more favorable working conditions.

Investments in education can be divided into formal and informal. The first type involves various types of educational services offered by the state or organizations with the issuance of final documents confirming completion of training. This includes secondary school education, special education, higher education, including a second higher education, postgraduate studies, doctoral studies, on-the-job training, as well as advanced training courses.

Informal learning is training that does not have supporting documents, but is also capable of enriching a person with knowledge and increasing human capital. This includes reading literature, independently mastering any sciences, playing sports and art.

Equally important to improving productivity are health-related costs. By reducing the number of diseases and mortality, we increase the duration of the working period, the working life of a person. In this way we prolong the validity of human capital.

Each of us understands that it is possible to improve health to a certain extent, but its quality largely depends on hereditary characteristics. It is very important for an individual, as well as for society as a whole, to invest in acquiring health throughout life. Human health is an asset that is subject to wear and tear. Investing in health can slow down the process of aging and decline.

Features of investments in human capital development are as follows:

Their effectiveness is directly related to the lifespan of the wearer. The more investments, the longer the working period of a person’s life. And the sooner investments begin, the sooner the return will be visible.
The ability to multiply and accumulate, despite the gradual tendency towards moral and physical wear and tear.
As human capital accumulates, it brings more and more profit, but the limit of profitability is still limited by the end of working age. As soon as a person retires or stops working for other reasons, the effectiveness of his human capital drops sharply.
Not all investments in increasing human well-being can be recognized as expenses for the development of human capital. For example, if costs are associated with criminal and illegal activities, it is difficult to attribute them to investments in the development of human capital due to their social harmfulness and even danger.
The nature of investments is determined by the characteristics of the culture, nationality and historical development of the society in which they are made.
If we compare investments in the development of human capital with other types of investments, it turns out that the former are more profitable both for the carriers of capital themselves and for society as a whole.

Sources that can carry out investment activities may be:

state;
foundations of state and non-state importance, public organizations;
regional associations;
organizations, legal entities;
individual entrepreneurs;
supranational organizations and foundations;
educational institutions, etc.

The state plays the most significant role among all types of sources.

But do not underestimate the importance of individual companies, organizations, and entrepreneurs. It is enterprises that are employers who have all the opportunities and conditions to engage in personnel training and development. Moreover, organizations have an information base that allows them to gain a clear understanding of the most promising areas for investment in education and training. An important factor in investing in enterprises is the net income that this type of investment brings. Once there is no profit, funding will also stop.

Ultimately, what is all this investment in personnel for? To strengthen the company's competitiveness. Consequently, the employer strives to use working time and human capital in general in the most rational way.

A practitioner tells

Self-training of personnel as a contribution to the development of human capital of the organization

Sergey Kapustin,

General Director and co-owner of the STA Logistic group of companies, Moscow

From my own experience, I know that allowing subordinates to independently control their work is simply unacceptable. Each of them, knowing that no one is checking their work, will try to rest more and work less. Many people have the same attitude towards learning: if management doesn’t force you to study, it’s better to save your energy.

As the ancient Chinese philosopher Sun Tzu said: “Hold with harm, move with gain.” In other words, I must interest the employee so that he actively engages in self-training.

Of course, employee education comes with additional costs. The company only spends the first two months of training on scholarships equal to the salary. Following the example of successful enterprises in other countries, we draw up employment contracts with a clause that allows us to demand reimbursement of training costs from an employee who fails the pre-employment test. This approach creates in people a sense of the value of education; we get employees who are interested in self-development. Already at the initial stage, it is easy for us to determine who is most responsible for learning.

Newly hired employees are required to undergo basic training. The learning process is not based on printed lecture material. We decided that it would be much more interesting to organize the preparation in the form of watching video lectures. In total, we have about 20 courses posted on our portal. Training involves initiation into the company’s values, explanation of work technology, document flow rules, and familiarization with regulations. The courses are divided into basic, suitable for everyone, and special - for individual specialists (accountants, marketers, etc.). Each newcomer studies from 10 to 15 courses over a month and a half. Upon completion of training, the employee takes an exam in electronic form. This exam is similar to the one accepted by the traffic police.

Human Capital Development Management

We are observing a number of unfavorable factors that make us more sensitive to the issue of human capital development. These factors are:

reduction in the number of workers due to mortality in working age;
an increase in the number of diseases due to an unhealthy lifestyle (drug addiction, smoking, alcoholism, gambling addiction);
progressive rates of disability;
loss of moral values and ethical standards in labor relations;
the declining role of education or its obsolescence;
lack of opportunity to receive a modern education (lack of funds, time and effort, declining quality of education, etc.).

Human capital development is important for solving many organizational problems. Human capital needs to be managed, but it itself subsequently acts as a means of managing business profitability. With its help, you can stimulate the scientific and technological progress of an enterprise, the use of new technologies, and increased efficiency. The main approaches to the use of human capital today are competent motivation systems, leadership, the right style of management, organization of activities and prioritization. When using such approaches, human capital turns into a real tool for influencing socio-economic processes.

The possibility of chaotic formation of human capital cannot be denied. But if we expect this phenomenon to develop all its positive characteristics, then the process of formation and development of human capital must be managed consciously. All over the world, there is a shift away from the personnel management paradigm; more and more enterprises are moving directly to the administration of human capital development.

Prioritization is a key point in human capital management (Schemes 1, 2). Despite the fact that the desire to maximize human life is bearing fruit, it has not yet become a priority in management. But the formation of human capital is based precisely on this desire. In order for the priority to be realized, knowledge of people's interests, the construction of a value system, the establishment of social responsibility and the availability of appropriate resources are needed. It is important to pay enough attention to working with personnel. Look at how job search advertisements are most often formulated today: “employees with experience are required” or “qualified specialists, responsible and communicative, are required.” The set of requirements is very limited. Of course, experience is important, but to reveal all the benefits of human capital, it is not enough to accumulate experience alone.

Scheme 1. The art of management.

Scheme 2. Typological characteristics of personality in integration intelligence.

Many HR professionals now use psychological tests when hiring. They are also very helpful in personnel research. But tests do not always serve their purpose. They are not able to properly influence the formation and development of human capital.

For example, a large bank uses a 60-question test to find an employee. Vacant position – assistant. And the questions allow you to assess your general erudition and partially your knowledge of accounting. Such a test does not reveal the ability of an applicant for a position to summarize materials, nor does it even make it possible to determine the type of thinking and independence of decision-making in complex and contradictory situations. Consequently, tests are not capable of fulfilling the tasks of forming and developing human capital.

The creation of this asset occurs not only during the selection of personnel; even in the normal daily work of a manager, this process also takes place. The effectiveness of formation is determined by the correct choice of means and methods used by the employer.

Scheme 3. Human capital management mechanism.

The most important means of forming and developing human capital:

investment;
stimulating the disclosure of human qualities that contribute to the increase in human capital; they are associated with obtaining an education, maintaining a healthy lifestyle and developing intellectual potential;
creation of a motivating remuneration system, which involves setting wages in accordance with experience and length of service;
establishing values implemented in management processes;
assignment of qualifications in accordance with the level of professionalism and ability to perform effectively;
manifestation of human capital in the information environment; the competence factor directly depends on the provision of information, the functional content of the activity, as well as directly on the education of the employee;
development of all levels of culture: general, organizational, corporate and others;
proper organization of activities that contributes to the implementation of a creative approach, stimulation of educational activities, and encouragement of self-development.

What indicators exist for assessing the development of human capital in an organization?

The factors that we examined in this article affect the development of human capital as a whole. They are all interconnected and form a single system. The process of formation and development of human capital can be facilitated by organizing a monitoring system for this asset, which is created in accordance with management priorities used in the enterprise, as well as employee evaluation methods.

In most cases, enterprises use the method of calculating direct personnel costs. Direct costs include wages, taxes on employees, costs of labor protection and improvement of its conditions, as well as costs of advanced training and training of workers. It is easy to guess that the sum of all these costs is not an indicator of the accumulated amount of human capital, because, in addition to all the above activities, capital carriers themselves can form capital through self-education and creativity.

Another method used is competitive assessment. The company creates optimal conditions for employees. People should strive to work for a company that offers more amenities and benefits to employees than all other competing organizations. With this technique, it is important to assess the costs and expected damage to the company when an employee leaves. It is undesirable for such investments to have turnover. It is especially important that people remain at the enterprise during a crisis period, because a way out of a difficult situation is possible with the presence of human capital and even its increase, which does not at all imply the recruitment of new employees.

A number of enterprises use the method of prospective assessment of the value of human capital. Its essence is that the dynamics of value over a period of five, ten or even twenty years is taken into account. The method is quite effective, especially suitable for long-term large projects related to innovation. As development progresses, the value of individual employees changes. Sometimes people achieve particularly high results, and sometimes they quit, which results in major losses for the organization. These factors also need to be taken into account.

Strategic human resource management:

SWOT analysis;
action plan to realize opportunities and neutralize threats to business;
personnel policy;
personnel management models;
personnel indicators in the balanced scorecard.

SWOT analysis of human resources: an example

Strengths	Weak sides
Opportunities for career growth for employees due to company development. Employees' desire for development. Positive image of the company in the market.	High turnover of basic personnel. Lack of uniform policies, procedures and rules in the field of personnel management. Weak communications in the company between brands; brands and management companies.
Possibilities	Threats
Attracting highly qualified personnel. Work with educational institutions (business schools, universities, colleges). Formation of uniform policies, procedures and rules in the field of personnel management. Reducing staff turnover through the introduction of adaptation systems, mentoring, apprenticeships, and prevention of layoffs. Creation of a training center and the foundations of a self-learning organization.	An increase in the number of potential employers means an outflow of qualified personnel (including to competitors). Increased demand and limited supply in the market for qualified personnel (demographic situation). An increase in market wages means an increase in personnel costs.

How effectively an organization uses human resources can be judged by the following key indicators:

the employee’s contribution to the organization’s performance (to making a profit per employee, to achieving a certain share of sales, the level of gross margin);
employee expenses; for assessment, the ratio of human resource costs to total costs, as well as costs per employee, is calculated;
the state of human resources (level of education, competence, as well as the level of staff turnover, etc.);
staff involvement (it reflects the degree of employee satisfaction with the conditions provided).

How a leader can earn authority in a team: 9 qualities

Problems of human capital development in Russia

If we consider human capital in general, we can consider it the engine of the economy, a factor in the development of the institution of family and society as a whole. It consists of able-bodied people with education, as well as tools of intellectual and managerial work located in a certain habitat and performing a labor function. If there is human capital, a country can maintain a certain level in the global economy, ensuring competitiveness in the markets. This is of particular importance in the context of globalization, and is also an indicator of the activities of government authorities.

Human capital has value in itself, but its quality becomes increasingly important in a competitive environment. How to evaluate quality? To do this, it is necessary to determine the level of literacy and education, as well as life expectancy of the population, standard of living and the state of medical care. To this it is worth adding the GDP per capita indicator. All these elements are combined into a formula for calculating the Human Capital Development Index (HDI). About 25 years ago, out of 187 countries in the world, Russia ranked 23rd on the list, and according to the results of a 2013 study, our country was in 55th place. This is an inevitable regression, which can be explained by a decrease in investment in such areas as education, culture, science and human health.

It is important not only to develop the professional qualities of specialists. In the development of human capital, it is necessary to engage in the formation of a new culture of behavior of citizens, and this process should begin from a very early age. The development of culture continues throughout life, no matter where a person works - in the civil service or in the private sector of the economy. These tasks were formulated for themselves by the participants of the Open Government session “Human capital is the main asset of the economy”, held as part of the St. Petersburg International Economic Forum.

The Minister of the Russian Federation for Open Government, Mikhail Abyzov, said that today in our country there is no system of personal development that meets modern requirements, and without it it is impossible to talk about more or less high positions in the list of economically successful states. The Soviet Union had such a system, but it no longer corresponds to reality. We need to look to the future and develop new mechanisms. Nowadays, everything is not as successful with school education as we would like; children do not develop the qualities of leaders. According to statistics, 70% of schools in the Russian Federation are rural, more than 40% of teachers work in them and at least 25% of them do not have higher education. But we simply don’t have the tools to develop leadership.

Chaotic development of human capital does not imply quality results. This system requires configuration and management so that a person's skills are adequate to the requirements of the modern world. In our country, the ability to organize the development of human capital has been lost. If we previously had a planned economy, it had its own principles of adjustment - they were based on a system of priorities for economic growth. Man was seen as a means for economic development. But in the new reality the system does not exist at all.

Instead of developing human capital, there is an increase in ambition. What do we see these days? People with higher education work in unskilled positions (salespeople, secretaries). More and more young professionals are experiencing problems finding a job. Moving to other regions is also difficult.

It is planned to develop an electronic system that will allow an employer to select a graduate of an educational institution who meets the parameters necessary to occupy a specific position. You will not have to select based on your resume; you will only need to evaluate the student’s academic performance and his scientific and social activities.

In human capital development, basic education is important, but it is neither rare nor in short supply now. Nowadays, it is much more important that a person has leadership qualities. It is not ordinary performers, but leaders who help the company achieve success. That is why the main focus now is on developing leaders. In particular, the Open Government conducts training seminars for members of the Government of the Russian Federation at the Sberbank Corporate University.

The development of science and technology shows that the main engine of the economy is human capital. GDP growth should be invested precisely in human development, in improving the quality of his life, in caring for health, and then we can hope for a transition to an innovative economy and a knowledge economy.

Let us recall the words of Nobel Prize laureate in economics Simon Kuznets, written in 1934: “For a scientific and technological breakthrough in the country, the necessary starting human capital must be created (accumulated). Otherwise, a false start occurs.”

State funds should be directed not only to the fight against corruption, but also to finance science, healthcare, education, as well as the protection of motherhood and childhood.

Table 1. Age structure of the population and dependency load

Age groups of the population, thousand people.	2002 (census)	2007	2010	2020***	2030***
Younger than able-bodied
In able-bodied
Older than able-bodied
Whole population

Younger than able-bodied
In able-bodied
Older than able-bodied
Whole population

*Men aged 16–59 years + women aged 16–54 years

**For every 1000 people of working age there are disabled people (children + pensioners)

*** 2020 and 2030 – Rosstat forecast.

Information about the experts

Marat Nagumanov, director of the research and production company "Packer", Oktyabrsky (Bashkortostan). NPF Packer LLC. Scope of activity: design, production and maintenance of packer-anchor equipment and well assemblies for operation, intensification and overhaul of oil and gas wells. Territory: head office – in Oktyabrsky (Bashkortostan); service centers and representative offices - in Muravlenko (Yamalo-Nenets Autonomous Okrug), Nizhnevartovsk and Nyagan (KhMAO - Yugra), Ufa, Buzuluk (Orenburg Region), Almetyevsk and Leninogorsk (Tatarstan), Izhevsk. Number of staff: more than 700. Subscriber to the General Director magazine: since 2007.

Sergey Kapustin Graduated from the Belarusian Polytechnic Institute (now – Belarusian National Technical University). Since 1995 - co-owner and general director of the logistics company AsstrA. Since 2003 - in current position. GC "STA Logistics" Field of activity: transport logistics. Territory: Russian head office - in Moscow, branch - in St. Petersburg; representative offices in Minsk and Vilnius. Number of employees: 165. Annual turnover: 32 million euros (in 2012).

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human capital investment Russian

Introduction

Conclusion

List of sources used

Introduction

The concept of “human capital” is currently acquiring great importance not only for economic theorists, but also for individual business entities. There is an increasing interest among economists in studying human potential, his creative abilities, as well as ways of their development. In recent decades, more and more importance has been attached to the accumulation of human capital. There is finally an understanding that human capital is, in fact, the most valuable type of capital that exists. The most basic ways to accumulate human capital include investing in health and education.

The development of a post-industrial society (neo-economics), in which intangible assets and information are priorities, has radically changed the place and role of man. Human abilities and skills in social production come to the fore and, as a result, human capital today is an integral part of the production assets of any enterprise. Human capital is also unique in that it provides significant economic benefits not only to a specific company, but is also an invaluable asset to the entire country.

The relevance of the topic of this course work is that the development of human capital and its effective use is, of course, a priority area for many economically developed countries of the world. It is investments in human capital, as evidenced by numerous studies, that have the highest profitability. The development of human capital at the macro level helps improve living standards, and also contributes to structural transformations and increased efficiency of the national economy.

Thus, human capital plays a very important role for any economic system, since in many respects it is through its development that competitiveness and production efficiency, as well as the rate of economic growth, can be significantly increased. The transition to an innovative path of development is not possible without the widespread involvement of highly developed human capital.

The purpose of this course work is to study the issues of formation, measurement and effective use of human capital, as well as investments in it.

Based on the purpose of this work, it is necessary to solve a number of problems in this work:

1. Define the essence and meaning of the concept of “human capital”.

2. Analyze the main historical milestones in the development of the theory of human capital.

3. Consider the classification of investments in human capital.

4. Determine the state of development of human capital in the Russian Federation, as well as abroad.

5. Identify the main problems of using human capital in the Russian Federation.

6. Consider the main methods for increasing the efficiency of using human capital.

Object of work: theoretical foundations of the concept of human capital.

Subject of work: investment in human capital as a factor in long-term economic growth, both at the micro and macro levels.

Chapter 1. Theoretical foundations of the concept of human capital

1.1 The essence and significance of human capital, its place in the economic system

Over the past few decades, progressive social circles have firmly established the opinion that the effectiveness of the development of economic systems of modern states largely depends on the volumes invested in human capital. Without investment in human capital, it is impossible to ensure its stable progressive development.

Speaking about the importance of investing significant amounts of money in human capital, it is worth noting that, for example, in the United States, according to some estimates, the share of investment in human capital exceeds 15% of GDP. This figure exceeds the “net” gross investment of private capital in the real sector, which indicates the pronounced post-industrial nature of the world’s most powerful economies.

Thus, even if no special research is carried out, we can assume with a high degree of confidence that the highest levels of investment in human capital are directly proportional to the level of development of the economic system.

Economists began to actively study the theory of human capital back in the 19th century. Gradually, research into the theory of human capital has become one of the most promising areas of development of economic science.

Human capital, in a broad sense, is formed through investments in people. The latter consists of the costs of education, as well as advanced training of workers, health care, searching for information on prices and incomes, etc.

Thus, human capital is an assessment of the potential ability to generate income embodied in an individual. In its most general form, human capital consists of innate abilities and talents, education, and acquired qualifications.

The very concept of human capital was developed by American economists, Nobel laureates T. Schultz and G. Becker. Scientists have proven that investments in human capital can bring the highest economic effect. Moreover, these investments, over time, increasingly determine the development of the economy, primarily in industrialized countries.

Human capital is characterized by a system of indicators that reflect the processes of population reproduction, their ability to meet needs under the current living conditions, taking into account the state of health, safety, and the state of the environment.

Quite often, human capital is compared with produced (acquired) resources. To a certain extent, human abilities that make it possible to earn high incomes are acquired, and not at all inherited from birth.

Human capital also includes indicators that characterize the comfort of life and well-being of the population. Every year, huge amounts of money are spent on the reproduction of human capital, which includes costs for the functioning of the education system, upbringing, health care and other factors to improve the quality of life of people. Investments in human capital inevitably increase the productivity of social labor and also contribute to the growth of the standard of living of the population.

It is worth noting that such a large supranational financial organization as the World Bank Group pays priority attention to human capital, since the latter is deservedly considered a powerful factor of economic growth and the most important element of national wealth.

When assessing this factor, the totality of investments in various spheres of life support is determined, in particular, in the educational sphere, advanced training, improvement of living conditions, health, improvement of the standard of living of the population, as well as expansion of the share of the middle class in it.

Human capital is characterized by the following features:

In modern conditions, it acts as a basic social value, not to mention the fact that it is the main factor of economic growth in a post-industrial society;

The formation of human capital requires significant costs from the entire society and the individual himself;

In the form of abilities and skills, human capital is an asset, so to speak, in other words, it can be accumulated;

Human capital is subject to wear and tear, capable of depreciation and economically change its value over time;

Human capital differs from physical capital, first of all, in the degree of liquidity;

It is worth noting that human capital is inseparable from its direct carrier, a person, with his individual characteristics;

Regardless of the sources of formation (they can be either public or private), the effective use of human capital and, as a result, the receipt of income from it depends directly on the person himself.

In the economic literature, there are a number of very different approaches to the classification of human capital and its types.

It can be classified according to the elements of investment in human capital. For example, the following components of human capital are often distinguished: health capital, educational capital, cultural capital.

1.2 The formation of views on human capital and various interpretations of the concept

The formation of views on humanity and its role in the economic system dates back to the 17th century, when the founder of classical English political economy, William Petty, was the first among economists to try to estimate the monetary value of human productive properties. According to his approach, “the value of the bulk of people, as well as land, is equal to twenty times the annual income they bring.” Thus, W. Petty estimated the value of the then population of England at approximately 520 million pounds sterling, while the value of each English resident was an average of 80 pounds.

Petty noted that social wealth, in general, depends on the type of occupation of people, as well as on their ability to work. So, for example, W. Petty valued an adult at 2 times more expensive than a child, and “in reality, a sailor is equal to three peasants.”

In the 20th century two Nobel Prizes in economics were awarded to two scientists for developing the theory of human capital - T. Schultz in 1979, and G. Becker in 1992.

Although the most significant contribution to the popularization of the theory of human capital was made by Schultz, the classic treatise in this area was the treatise of the economist G. Becker. Becker in his analysis relied on ideas about human behavior as expedient and rational, actively operating with such concepts as price, rarity, opportunity costs, etc. Among other things, scientists also touched upon a variety of aspects of human life, including those that were traditionally under the jurisdiction of non-economic disciplines. The model formulated in the scientist’s works served as the basis for subsequent research in this area.

Becker was the first to calculate the economic efficiency of education. For example, to determine income from higher education, the lifetime earnings of those who did not go beyond high school were subtracted from the lifetime earnings of those who graduated from college.

Along with direct costs, training costs (such as tuition, accommodation, etc.) include “lost earnings” as their main element. This is, in other words, potential income that was lost by students during their studies. Lost revenue essentially measures the value of students' time spent studying while being an opportunity cost. Having determined the return on investment in education as a ratio of income to costs, Becker obtained a figure of 12-14% profit per year.

The very concept of “human capital” has a wide variety of applications in economic science, since many scientists have been able to successfully prove its high efficiency and feasibility in it. The category “human capital” allows you to expand your understanding of issues such as, for example, the role of education in the process of social reproduction, income distribution, economic growth, family planning, migration, motivation, not only from social, psychological and demographic points of view, but also allows you to explore them in the context of economic science.

Thus, since the category “human capital” is very capacious and multifaceted, there is a huge number of works devoted to this particular theory. In-depth research was carried out in all these works, and, moreover, modern foreign and domestic literature abounds in a wide variety of different interpretations. However, despite this fact, it is still difficult to come to any unity in terms. That is why in this work we will consider only a few interpretations and definitions of the category “human capital”.

Most often, by human capital, economists mean the entire set of production qualities of an employee. The definition of Nobel laureate in economics Becker is considered classic, according to which human capital means everyone’s stock of skills, knowledge, and motivations.

Human capital, in simple terms, represents the productive abilities of an individual, his knowledge and talents. So, for example, J. Ben-Poret considers human capital as a kind of fund, the main function of which is the production of labor services in social units of measurement. Moreover, this fund is “analogous to any machine as a representative of material capital.”

According to scientist D. Berg, “human capital is a stock of professional experience that has been accumulated by an employee.” It represents value for potential future income."

The famous economist M. Blag approaches this concept, taking as a basis the fact that human capital is inseparable from its carrier, which has unique individual characteristics. Based on this, the scientist argues that “human capital is the present value of past investments in people’s skills, but in no case is the value of people themselves.”

Thus, out of the huge variety of definitions of human capital, we have considered only a few, since even today there is no single precise definition of this concept. However, the principle of an expanded interpretation is inherent in most of these definitions, since human capital, in most cases, means not only realizable knowledge, skills and abilities, but also potential ones, both external and internal stimulation of the employee.

From all of the above it follows that human capital is a very complex, multifaceted concept, and therefore it is not possible to give any one most universal definition that reveals all its aspects.

Chapter 2. Investments in human capital

2.1 Essence, significance and types of investments in human capital

In the most general form, investments in human capital are usually called any measures taken to increase labor productivity. In more detail, investments in human capital should include, first of all:

Costs associated with maintaining health;

Expenses aimed at obtaining education;

Costs associated with finding a job, as well as on-the-job training;

Costs associated with having and raising children, migration, and searching for information about earnings and prices.

Most economists around the world usually distinguish three main types of investments in human capital:

Expenses on education, which include both general and special, formal and informal (self-education), as well as on-the-job training;

Expenses related to health care, which include costs for medical care, disease prevention, special nutrition, as well as for improving living conditions;

Mobility costs (associated with the migration of workers to places with more favorable conditions for productive work).

As mentioned earlier, the most important of all types of investments in human capital are considered to be the costs of education and health.

Thus, the presence of education, be it general or special, in any case contributes to higher labor productivity, increases the stock and level of human knowledge, thereby increasing the quality and volume of human capital.

As for investments in higher education, they certainly contribute to the formation of highly qualified specialists. In this context, it is worth noting that it is highly skilled labor that can have the greatest impact on the rate of economic growth.

Based on content, investments in education are usually classified into formal and informal. Formal investments are those associated with obtaining secondary, specialized or higher education, obtaining a second education, advanced training courses, on-the-job training, master's studies, as well as postgraduate studies, doctoral studies, etc.

Non-formal education is associated with a person’s self-education. Usually this includes reading various educational literature, self-improvement in various areas, doing art, sports, etc.

Along with education, investments in health are the most important, since they contribute to reducing the level of mortality and disease, as well as increasing the working life of a person, and, accordingly, in economic terms, the functioning time of human capital.

Health is its natural capital, one part of which is inherited, and the other is acquired as a result of investments by both the person himself and society as a whole. Throughout a person’s life, human capital (like any other asset) wears out, and investments in health can significantly slow down this process.

Investments in human capital have a number of distinctive features that make them unique in their own way:

1. The effect of investing in human capital directly depends on the life expectancy of its owner (to be more precise, on the duration of the working period of his life). On the other hand, the earlier investments are made in a person, the faster they will begin to bring returns.

2. Human capital, like any other type of capital, is subject to physical and moral wear and tear, but has the ability to accumulate and can multiply.

3. The profitability of human capital as it accumulates can increase to a certain limit, which is limited by the upper limit of active working age. After exceeding this threshold, capital efficiency begins to decline sharply.

4. Not every expenditure on a person can be considered an investment in human capital. So, for example, any costs associated with criminal activity cannot be called investments in human capital, because they are harmful and impractical for society.

5. The types and nature of investments in human capital are determined by national, historical, as well as traditions and cultural characteristics.

6. Compared to investments in any other areas, investments in human capital are recognized as the most profitable both for an individual and throughout society.

The main sources of investment in human capital can be:

State;

Non-governmental public organizations and foundations;

Regions;

Enterprises;

Individuals (households);

Supranational organizations and foundations;

Educational institutions, etc.

Nowadays, the role, in this context, the role of the state is quite significant. So, for example, the state can resort to coercive as well as incentive measures in this area.

Compulsory measures should, first of all, include compulsory formal education at the secondary school level for everyone, mandatory medical preventive measures (medical examinations, vaccinations), etc. On the other hand, it is incentive measures that should dominate.

Government has two of the most basic and powerful ways to change the amount of private investment in human capital that is made automatically through the market: it can influence the incomes of those involved in the creation of human capital (through a system of tax breaks and subsidies), and it can also regulate the price of acquiring human capital. The most significant role of the state is in such critical areas of human capital formation - in the field of health care and education.

In the formation of human capital assets, the role of individual enterprises (companies, firms) is very significant, since the latter often act as the most efficient producers of this type of capital. This is due to the fact that firms have all the conditions under which they can provide personnel training that meets current needs. In addition, enterprises have the most reliable information about the most promising areas for investment in education and training. However, there is one limitation: any company will make this kind of investment only as long as it generates net income.

Firms, when investing in human capital, strive to enhance the labor productivity of their employees, increasing their labor productivity, as well as minimize the irrational use of working time, ultimately strengthening their competitiveness.

Among the main areas of investment made by firms, the following dominate:

Organization of professional training and retraining courses;

Payment of employee expenses for treatment and preventive measures;

Construction of health and physical education centers, preschool institutions, etc.

In the most developed countries, in-house training, in terms of the scale of its costs, is comparable to other sectors of training and retraining.

The accumulation of psychophysiological and intellectual abilities of a person in the family is a solid foundation for the further development and constant improvement of an individual’s human capital. Investments in the development of children's human capital are among the most cost-effective, since they not only form the basis for their own development, but also serve as the basis for the formation of the total human capital of future generations. As a result of education and upbringing in families, the most diverse types of human capital are formed, personality is formed, and basic psychophysiological mental abilities are created.

In developed Western countries, the targeted formation of human capital dates back to the 60s. last century. This process gradually began to act as an integral part of the state economic policy of most countries. Somewhere in these same years, a series of laws were adopted aimed at stimulating the activities of the state and business entities focused on the development of human capital. These regulations established a mechanism for encouraging firms to invest in human capital through a system of tax incentives, loans on preferential terms, and also paid attention to public encouragement of the media.

In the theory of human capital, one of the key provisions is that its increase acts as one of the main determinants of economic growth and development. The subsequent evolution of this theory indicated that human capital is the main driving force of production development. It follows from this that any enterprise must pay special attention to the process of forming human capital, which requires investments, and considerable ones, since human capital can be formed, first of all, through considerable investments in improving the quality and standard of living, its moral components, as well as intellectual activity.

So, it is well known that investing capital with the aim of making a profit in the future is nothing more than an investment. In relation to human capital, the definition will be narrower: “investments in human capital are resources that form and accumulate new knowledge, experience and information in the process of training and functioning of the workforce, that is, the ability to work.”

Along with the growth of human needs, there inevitably follows an increase in the goods and services produced by the economic system. Qualitative and quantitative growth of production undoubtedly requires human development and improvement of production capabilities, in other words, the development of all elements of human capital. Further, human development will subsequently inevitably lead to the emergence of more and more new needs (an objective law of economics about increasing needs). In the process of reproduction, investments are necessary for all, without exception, elements of human capital.

Thus, increasing needs inevitably contributes to increased investment in human capital. However, on the other hand, we should not forget that the level of investment in human capital will also depend on their effectiveness. In other words, the more efficiently investments are used, the less they may be required and vice versa.

In order to better understand what exactly investments in human capital are, we should consider some basic approaches to the classification of this concept. Thus, the famous American economists S. Brew and K. McConnell identified the following types of investments in human capital:

Expenses on education, which includes formal and informal, general and special, as well as on-the-job training;

Healthcare-related expenses, which consist mainly of costs for disease prevention, medical care, dietary nutrition, and improvement of living conditions;

Mobility costs that enable people to migrate to locations with relatively high productivity

Domestic economists A.I. Dobrynin, S.A. Dyatlov, as well as E.D. Tsyrenkova, summarizing the previous experience of economists of various directions, proposed in their work the following classification of types of investments in human capital (Fig. 1):

Rice. 1 - Classification of investments in human capital

There are a variety of opinions and views regarding the issue of the main components of human capital, since most scientists have different understandings of its composition and structure. However, the main elements of human capital most often include (Fig. 2):

· health capital;

· education capital;

· production preparation capital;

· motivation of economic activity;

· possession of economically significant information;

· migration capital.

Rice. 2 - Elements of human capital

If we analyze the above approaches to the classification of investments in human capital, as well as the components of human capital themselves, we can come to the conclusion that each of the components of human capital requires certain investments.

A person's ability to work productively, generating income and thus justifying the investment in him, puts human capital on a par with other basic forms of capital.

For human capital, as for any other, investments play a big role, since it is investments that are necessary for the development of all its constituent components.

On the other hand, we should not forget that investments in human capital are characterized by a number of specific features, since here we are talking about investments not in some objects, but in a living person. We can also conclude that it is investment that acts as the initial stage of both the individual turnover of human capital and the general turnover of aggregate human capital. From this follows the importance of investment activities in human capital on the part of any state. It is the latter that has priority in the most significant investments in education and health care.

2.2 Basic approaches to the formation of human capital and methods for its assessment

In modern post-industrial society, a variety of organizations attach increasing importance to the intangible characteristics of their employees, which, in particular, include loyalty, sociability, willingness to take risks, etc. All these intangible characteristics, of course, require determining ways to formalize and authenticate them. assessments. Modern promising companies, oriented towards dynamic and long-term development, understanding the full value of the potential of such human qualities, transform their entirety into a very significant intangible asset - human capital.

The modernization of the world economy stimulated investment in the “quality” of workers as an “intangible” asset, which caused an “intellectual, creative revolution” in production.

As the expression “human capital” enters the corporate lexicon, many firms are increasingly using the concept freely, but often make no attempt at all to measure or even manage this asset. As a result, it can be quite difficult to establish a cause-and-effect relationship between the company's financial performance and employee reflections.

In today's labor market, qualified professionals have enormous freedom to choose their employers. Among the main reasons why today's most promising employees leave their companies is the lack of a sense of being in demand, as well as the lack of prospects for the fullest development of their potential.

Thus, human capital management makes it possible to effectively apply the experience and knowledge of employees in practice in order to help them fully realize their potential.

Most proponents of human capital management believe that if you objectively measure the breadth of influence that a firm's employees have on an organization's financial performance, then it is possible to select, evaluate, manage, and develop the capabilities of its employees in ways that transform their human performance. quality into specific financial indicators. This approach, of course, involves a search for ways to objectively quantify what was previously considered intangible assets, while specialists who implement such methods note that similar approaches have been used in the business environment for a long time.

On the other hand, many company managers, fully aware of the value and expediency of investing in people, deliberately refuse to invest in human capital development programs. This is due, first of all, to the difficulties of determining the return on such investments. Moreover, many analysts and executives insist that human capital excludes any quantitative measurement, arguing that when firms try to treat their employee evaluations as if they were valuing financial assets, they are actually devaluing their entire value.

This problem is explained, first of all, by the fact that measurements of human capital, as a rule, are very subjective and imprecise, however, nevertheless, the measurement process itself is extremely important. Moreover, an ultra-precise quantitative assessment is not possible, and, by and large, in our opinion, is not particularly necessary. Organizations need to strive to gradually begin to identify the critically important link between human capital and a firm's financial performance - a link that standard accounting methods cannot identify.

Firms are well aware that this connection may or may not be manifested in any specific numbers or indicators. This is why objective assessment of human capital is so problematic. However, if you try to quantify this relationship, you can understand what each employee contributes to the work of the company, as well as how dedicated employees are to their work, what they think about their company, and how likely it is that they will subsequently resign. Quite often, in the very process of assessing human capital, firms receive extremely important information about their management system and acquire information that is practically invaluable for their work.

Human capital theorists are passionate about the belief that human capital is the most valuable of all resources (much more valuable than, say, natural resources or equipment), not only to any individual firm, but also to society as a whole. Thus, according to this opinion, it is human capital, and not factories, machines or inventories, that today is the most important indicator of economic growth, competitiveness, as well as efficiency at both the micro and macro levels.

Like any complex economic category, human capital has qualitative and quantitative characteristics. In the context of the theory of human capital, not only the volume of investments in human capital can be assessed, but also its volume accumulated by an individual throughout life. At the same time, it is possible to calculate not only the value of the total amount of human capital for each individual, but also on a national scale.

Modern economic literature is literally replete with a variety of methods and approaches to assessing human capital. When determining the amount of human capital, both natural and cost indicators are used.

One of the simplest methods is the method according to which temporary (natural) indicators, measurements of human capital, expressed in person-years of training, are actively used. The essence of these indicators is that the more time spent on a person’s education, the higher his level of education is likely to be, and, consequently, the greater the amount of human capital he will have at his disposal.

A fairly common method for measuring human capital is the principle of capitalization of future income, which is based on the so-called “preference for goods over time.” The essence of this method is that people tend to value a certain amount of money or a set of goods in the present time higher than a similar amount or set of goods in the future.

A person can be considered as a combination of one unit of simple labor, as well as a certain amount of human capital embodied in it. Thus, the remuneration for labor received by each worker should also be considered as a combination of the market price of his “flesh” and rental income from the human capital invested in this “flesh”.

Human capital as a component of assets generates income, which can be represented as the discounted wage that a worker receives during the economically active period of his life. Thus, the income received by an individual from the use of human capital can be expressed as a weighted average of annual earnings that are expected over the entire working period of life. This is the so-called “permanent” (continuous) income of an individual, which gives him human capital, which acts as a component of property.

For modern companies, a number of fundamental approaches can be proposed for assessing their human capital.

Methods for calculating the value of a company's human capital:

1. Method for calculating direct personnel costs. The easiest way for company managers to calculate the total economic costs incurred by the company for its personnel, including an estimate of the costs of paying personnel, associated taxes, security and improvement of working conditions, costs of training and advanced training. The advantage of this method is its simplicity. Disadvantages - incomplete assessment of the real value of human capital. Some of it may simply not be used by the enterprise.

2. Method of competitive assessment of the value of human capital. This method is based on the sum of the estimated costs and potential damage caused to the company if an employee possibly leaves:

Total personnel costs incurred by a leading competitor (taking into account comparable production capacity);

Individual bonuses for each employee of the company (obtained on the basis of qualified expert assessments), which a competing company could pay for his transfer to them;

Additional company costs required to find an equivalent replacement for an employee in the event of his transfer to another company, costs of independent search, recruiting agencies, advertisements in the press;

Economic damage that the company will suffer during the search for a replacement, a decrease in the volume of products or services, the cost of training a new employee, deterioration in product quality when replacing an employee with a new one;

Loss of unique intellectual products, skills, potential that the employee will take with him to a competitor’s company;

Possibility of losing part of the market, increasing sales of a competitor and increasing its influence in the market;

Changes in the systemic effects of synergy and emergence (increasing mutual influence and the emergence of qualitatively new properties) of members of the group in which the employee was located.

This method is more complex, but it provides a much more effective estimate of the true value of a firm's human capital.

3. Method of prospective cost of human capital.

In addition to the competitive cost method, it takes into account the assessment of the dynamics of the value of human capital in the future for 3, 5, 10 and 25 years. This assessment is, first of all, necessary for companies engaged in the development of large and long-term projects, for example, conducting research in the field of creating innovations or building large high-tech facilities, since the cost of a number of employees changes unevenly, growing sharply during the period when they achieve the most important results after a sufficiently long period of time and they are approaching the expected final results, when the possible departure of some personnel from the company is associated with large economic losses.

4. Assessment of the value of human capital based on tests in a business environment. This estimate can be obtained based on two approaches:

Based on the specific results obtained by the employee, based on the profit he brought to the company, or on the increase in its assets, including intellectual ones. This assessment is widely used in business because it is the simplest. But at the same time it is the most rigid and often erroneous. According to one of the leading Russian businessmen, if a manager fails a business once, he loses 50% of his image, if a second time, he completely loses his reputation. However, many leading managers of the world's leading corporations, who have repeatedly suffered failures, but rose again and created an even more effective business, do not fit into the framework of this approach. In addition, in many cases, business failure can be caused by a completely unpredictable global crisis or a random major fluctuation in market conditions. As a result, a manager who has enormous potential, talent and prospects, but who has become a victim of two major crises, will be “written off”. However, one cannot ignore the fact that assessment based on the final result, and not on the abundance of diplomas, reviews, opinions, connections (which is most typical for Russian conditions) is the most accurate and correct approach. Therefore, another approach is proposed, based on a concept that allows you to obtain an assessment based on the final results, but, figuratively speaking, with a “human attitude towards human capital”: which it brought to the company, or by increasing its assets, including intellectual ones.

If you look at the countries of the world, it is estimated that the largest amount of human capital is in the United States and accounts for approximately three-quarters of the total national wealth of the United States. Investment in the human factor was the main reason for the strong economic development of the United States at the end of the twentieth century.

When investing financial resources in human capital, enterprise management faces a number of questions related to the effectiveness of investments:

Will the investment pay off (what are the types of effects from investing in human capital);

In what time frame can you expect results from investing?

How much will you need to invest?

What are the possible investment options;

How to assess the feasibility of investing in human capital development.

Fitz-enz Jak, conducting research, as a simple calculation of the return on investment in human capital, divided income by the number of employees. This was the first indicator to appear in the Human Resource Performance Report. He also proposed a return on investment in human capital.

Return on investment in human capital = [Profit - (Expenses - [Salaries + Benefits])]:Salaries + Benefits (1)

One of the indicators of the economic efficiency of human capital is the level of intellectual production (or the qualification capacity of production). It is calculated as the ratio of the educational fund (intellectual capital) to the gross national product and shows how many monetary units accumulated in the educational fund account for each cost unit of production:

UI = FD / GNP (2)

where GNP is the gross national product;

FO - monetary value of the general education fund.

Vaganyan O.G. proposes the following methodology for assessing the effectiveness of investments in the intellectual capital of commercial organizations. Due to the fact that the interaction of individual elements of intellectual capital is nonlinear, only the integral efficiency of investments is assessed. In this case, the general approach to assessment will be as follows. Two values are correlated: X (the difference between the organization’s capitalization and the replacement price of its real assets, minus liabilities) and Y (investments in intangible assets). The efficiency ratio of investments in intellectual capital is calculated as the ratio of the difference between the value of X at the beginning and end of the period and the amount of investment Y during this period. In this case, all values are taken in discounted form, taking into account inflation. The result is the efficiency ratio of investments in the intellectual capital of commercial organizations, i.e. the following formula is calculated:

Z = X2-X1 / Y (3)

Z - investment efficiency coefficient;

X2 is the amount of intellectual capital at the end of the period;

X1 is the amount of intellectual capital at the beginning of the period;

Y - investment in the organization's intellectual capital.

To calculate the Y value, it is recommended to take into account the following components: research and development costs (research and development); costs of education, advanced training, improving the health of workers, social investments; costs for information technology, information, hardware and software, for the formation and development of a brand; to create a corporate portal, website; for marketing; for the acquisition, distribution, storage of information; to develop distribution; to develop corporate culture; for the acquisition of know-how, patents, and other types of intellectual property.

G. Psacharopoulos provides data on the dynamics of social returns on investments in education based on countries' per capita income. In most of the poorest developing countries with low per capita income, the social return of primary education is 23%, secondary education is 15%, and the return to tertiary education is 11%. In the most developed countries of the world with a high level of income, the social return of primary education is 14%, secondary - 10%, higher - 8%.

2.3 Investments in human capital as a factor in long-term economic growth of an enterprise

Since all firms buy the same equipment from the same suppliers, the technology that can give a firm a competitive advantage lies not in unique equipment that is unavailable to competitors, but in the minds of the firm's employees who know how to use that equipment in a special way or more. in an intensive way. When a firm's employee leaves, the firm's unique ideas and technologies automatically pass along with that employee to the new entrepreneur. If we consider human capital from a cost perspective, it can be defined as long-term financial investments in company employees.

The company gets the opportunity to use the employee’s business qualities for its own purposes. For this use, the employee is paid a remuneration. So, for an employee this means an increase in income, job satisfaction, improved working conditions, increased self-esteem, and an improved quality of life. For the employer, this is an increase in productivity, a reduction in lost working time and an increase in production efficiency, which ultimately helps to increase the competitiveness of the company. For the state, this is an increase in the well-being of citizens, an increase in gross income, and an increase in the economic activity of citizens.

In national wealth, human capital in developed countries ranges from 70 to 80%. In Russia - about 50%.

The bulk of the world's human capital is concentrated in developed countries. This is due to the fact that investment in human capital in these countries over the past half century has significantly outpaced investment in physical capital. The main distinguishing feature of Russia is that the majority of the country's citizens live close to the level of biological survival and cannot afford to buy books or visit theaters. Many are unable to spend money on maintaining their own health, except for forced expenses on medicine.

It should be borne in mind that with qualified management, the maximum amount of profit from investments in human capital is almost three times higher than the profit from investments in technology. Human capital is the most valuable resource of modern society, more important than natural resources or accumulated wealth.

The basis of any business is people. Human capital is the main factor in increasing the competitiveness of a company. In this regard, investments in human capital are an integral element of the successful development of an enterprise.

It is fair to say that investments in human capital also include part of the costs of fundamental and applied scientific developments, as well as innovation activities, since as a result of the development of science, not only new intellectual products are created, on the basis of which new technologies then appear, but also the participants in this process themselves are being transformed into bearers of new knowledge and qualities. In neoeconomics, science turns into a kind of generator of human capital.

At the same time, the main forms of activity, including school education, on-the-job training, health promotion and increasing the stock of information, are investment activities that develop human capital. Thus, investing in a person as an investment of resources and financial assets is a pre-production stage in the formation of human capital, and all types of activities that contribute to its accumulation are already a direct process of its production, i.e. the next stage within the more general process of human capital turnover. The final stage will be its productive consumption (use).

It should be noted that, regardless of the subject of investment in a person, investments in him can be made by society, individual firms, educational institutions, individuals, and the owner of human capital himself. It is assumed that they all act as rational investors, i.e. decide to invest their limited resources in human capital only if they expect to receive a return from it that exceeds the costs incurred.

Conclusion

Many factors influence the socio-economic situation of a country. However, the decisive role in modern conditions is assigned to human capital.

We can say that the last one and a half to two decades of management science have passed under two banners: “innovation” and “human resources”. This time can be characterized by the complication of the external organizational environment, a sharp increase in the rate of its change and tougher competition in world markets. All this required a search for hidden reserves and new ways to increase efficiency. Of all organizational resources, it is “human resource” or “human potential” that has become the resource that hides the greatest reserves for increasing the efficiency of a modern organization. The “human factor” began to be viewed as an investment object no less, and perhaps even more important, than plants, equipment, technologies, etc.

Various definitions of the concept of “human capital” in the scientific literature can be reduced to the following: this is the totality of knowledge, experience, health, external and internal data, motivations and social connections that influence a person’s level of earnings.

The process of research and qualitative improvement of human resources, level of training, health, level of education by representatives of the theory of human capital begins in the second half of the 20th century.

Human capital is the main value of society and the main factor in the economic development of the state. He is inseparable from man. The formation of human capital requires material and physical costs from society, during which it has the ability to accumulate and form a certain reserve. However, human capital reserves are exhaustible; they can wear out physically and morally. The use of human capital, timely investments in it, are aimed at generating income in the future, and have a certain social effect in society.

Human capital, today, is an intensive factor in the development of not only the economy, but also the entire socio-political system and, first of all, society, family, the person himself, knowledge, labor resources, science, education. It is human capital that determines and ensures the effective functioning and level of their development, safety and improvement of the quality of life. Therefore, there is a need for active government intervention and the adoption of measures aimed at developing and increasing the efficiency of use and formation of human capital.

History of the issue

Modern theory of human capital

How human capital is formed

Cheka structure

Factors in the development of CC

Principles of Human Capital Management

Human Capital Development Index

Measures to develop the Cheka

Innovative approach to development

Features of investments in CHK

Features of human capital in Russia

Problems of human capital in the domestic space

You will learn:

How companies can properly develop human capital

What does the formation and development of human capital depend on?

Creating conditions for staff self-development is a strong foundation for the formation of the organization’s human capital

Investments in human capital development

Self-training of personnel as a contribution to the development of human capital of the organization

Human Capital Development Management

What indicators exist for assessing the development of human capital in an organization?

SWOT analysis of human resources: an example

Problems of human capital development in Russia

Table 1. Age structure of the population and dependency load

Information about the experts

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