Measuring the efficiency of human capital in the agricultural sector of Belarus

Abstract

In the current conditions of development of the agrarian economy the problem of increasing the efficiency of human capital use is brought to the forefront. It’s happening due to the limited resources of extensive growth on the one hand, and the need for predominant use of intensive factors on the other hand. The above-mentioned circumstances increase importance of the task of developing methodological approaches to assessing the efficiency of human capital functioning in the agrarian sector of the Belarusian economy, and finding reserves and searching directions based on it for increasing the efficiency of its use. According to the above mentioned, the main purpose of the study is to form a new methodological approach to the measurement of human capital functioning efficiency in the agrarian sector, allowing to assess the probability of risk occurrence and determine the amount of lost profit due to a decrease in quantitative and qualitative indicators. The methodology of scientific search is based on application of economic and mathematical methods based on statistical analysis of studied indicators. The study of literary sources made it possible to determine the list of indicators allowing to comprehensively measure the efficiency of the agrarian human capital functioning. Comprehensive analysis of this process’s indicators shows a decrease in the efficiency of human resource use. Increase of gross calculated markers does not correlate with the dynamics of point indicators, thus, not confirming the growth of human capital functioning efficiency in the agrarian field. The calculations made it possible to outline the lines of intensive capitalization of human potential, including intellectual, social and institutional vectors of development. The proposed directions act as one of the most effective ways of intellectualization of human capital in the conditions of modern innovative transformations and can be used by public administration, scientific community and local initiative groups to develop policy documents on the national and regional level.