Approaches to human capital evaluation

Abstract

In recent years, the world has seen an increase in interest in human capital, its role in the socio-economic development of society. It is human capital, which is a set of knowledge, skills, abilities, health and motivation of man, has the ability to bring income to both man and the state as a whole, and therefore is a major factor in the development of knowledge-based economy. In this regard, the issue of comprehensive assessment of human resources for different structural levels of the economy: from macroeconomic to microeconomic. The article considers and classifies different methods of assessing human capital, depending on the approach. The methods of estimating the human capital of the state and the enterprise that are relevant today are described. With all the diversity of research methods, researchers agree on several basic approaches to the assessment of human capital, namely: direct approaches: the cost-based approach, the lifetime income-based approach, the integrated approach, the indicators-based approach (educational approach) and indirect approaches (human capital index). The article contains a detailed analysis of the publications of various authors on the problem of the methodology of human capital valuation at the level of the business entity. The work of researchers on this issue is systematized and the following approaches to the assessment of human capital at the microeconomic level are identified: income approach, cost approach, investment approach, performance approach, market approach (comparative approach), expert approach. The resulting classification allows researchers and practitioners who evaluate human capital to choose the most appropriate valuation methods. Due to the variability of the economy, the issue raised in the article needs further research and it is necessary to develop new methods of assessing human capital, taking into account qualitative indicators. The study allowed the author to conclude that human capital should be subjected not only to quantitative but also qualitative assessment using expert methods. The advantages of expert methods in the assessment of human capital are listed.