THE ROLE OF HUMAN CAPITAL MANAGEMENT IN ENSURING THE COMPETITIVENESS OF ORGANIZATIONS

Abstract

In today’s environment, the development of human capital is at the center of attention for both the academic community and management practitioners. The quality of this resource determines not only the scale and intensity of economic expansion of enterprises and industries that are in a stage of active growth, but also the opportunities for recovery of those that have experienced stagnation or fallen into crisis, particularly under wartime conditions. At the same time, the formation and development of human capital is a multifactorial process influenced by both macroeconomic and microeconomic determinants. The purpose of this article is to provide theoretical and methodological justification for approaches to forming the organizational and economic mechanism of enterprise human capital management. This article examines relevant aspects of managing human capital development processes in line with the needs of the modern market. It formulates the key tasks for Ukrainian enterprises in this area, provides a comparative analysis of traditional and innovative approaches to human capital management, and substantiates the organizational and economic mechanism of its development within the framework of an innovative economy. Human capital represents a multi-component system that includes knowledge, competencies, professional skills, experience, and health, all of which enhance labor productivity and foster the personal and professional development of individuals. Investment in education, vocational training, and healthcare serves as a fundamental tool for improving the quality of human capital, which in turn promotes economic growth, reduces unemployment, and raises the standard of living. Different theoretical approaches to interpreting and studying human capital allow for a deeper understanding of its role in the development of society and the economy, while also enabling the design of effective strategies and policies aimed at achieving positive transformations in various spheres of life. Thus, the study of the essence and characteristics of human capital is an important task of modern economic science and management practice. Effective management of investments in this resource can ensure significant socio-economic benefits and create the conditions for sustainable development and societal prosperity.