ECONOMIC EFFICIENCY OF INVESTMENTS INTO PERSONNEL DEVELOPMENT OF ENTERPRISES
Journal Title: Baltic Journal of Economic Studies - Year 2018, Vol 4, Issue 3
Abstract
The purpose of the article is the research of further improvement of investment process into personnel of the enterprises, using modern methods and tools, which are put into practice, for an increase in resulting economic effects of enterprise’s activity. A key element in the functioning of companies is a balanced management system, so improving the effectiveness of investing in human capital should be considered by management as a priority. Therefore, it is important to improve the process of investing in personnel, using modern methods and tools that improve the efficiency of the company. Results. The structure of human capital is disclosed, which can be represented as a set of such components as health; competence; technical and special skills, which include the costs of continuing education, remuneration, other benefits and compensation. Problems that restrain investment of investments in personnel and tasks of personnel development policies are highlighted, the main one of which is maximizing the return on investment in employees. Practical implications. A motivating factor is an investment in planning and career motivation, which allows achieving a balance between the interests of the enterprise and the employee on the basis of principles: scientific, fairness, observance of labour legislation, efficiency, consistency. The definition of the economic efficiency of staff development in general form consists of three consecutive stages: the definition of the cost structure and their valuation; the definition of the structure of results and their valuation; comparison of the calculated values of costs and results reduced to one point in time. Value/originality. Management of investments aimed at the development of human capital will increase not only the effectiveness of the realization of human potential but also the efficiency of the use of all tangible and intangible assets of the enterprise.
Authors and Affiliations
Olena Kakhovska, Tetiana Lositska, Katerina Kolesnikova
Keywords
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- EP ID EP560747
- DOI 10.30525/2256-0742/2018-4-3-115-122
- Views 81
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