The cost of formation and problems of effective realization of labor potential in Ukraine

Abstract

Purpose. To substantiate the theoretical and methodological provisions and develop practical recommendations for organizing and effective labour potential fulfilment. Methodology. The authors used a number of methods: comparative analysis (in performance analysis and sectoral structuring of labour potential), computational and constructive (in a comprehensive study on organizing and fulfilling labour potential), economic analysis (to assess the cost of labour potential in priority sectors), effectiveness evaluation of investment in human capital (to assess the return on labour costs), expert evaluation methods (in assessing the priority of sectoral components of the economy), tabular (to illustrate research results), abstract-logical (to draw the conclusions). Findings. The article studied an evolutionary way of organizing the labour potential category. The expedience has been proved to consider systematically the labour potential category under the modern conditions of social and economic development and with a combination of economic, technical-technological, intellectual, budget and resource-based, social and environmental components. The authors present their own vision of system justification for the labour potential category concept. The article studied the process of organizing labour potential in terms of the human capital theory and summarized the classification of investment types in its formation and development. A comprehensive analysis of the current condition was performed and key issues were identified with regard to labour potential in Ukraine. Negative tendencies of reduction of the number of employees in all types of economic activity and gradual reduction of the number of vacancies in many specialties and professions were revealed. The analysis of the intersectoral differentiation of the average monthly salary level in Ukraine for the period 20142021 was carried out. Trends have been established concerning training of specialists in the fields of knowledge, as well as the process of forming their potential. Originality. The authors proposed and tested the methodological approach to an estimation of conditions for organizing and fulfilling labour potential, including the following methodological techniques: calculation of investments in organizing labour potential; assessment of labour potential effectiveness in the sectoral structure of the economy, taking into account the payback period of costs associated with its development. The efficiency of the use of labor potential in the sectoral structure of the economy of Ukraine is assessed and directions for its increase are suggested. Practical value. Calculation of investments in the formation of labor potential for a number of priority sectors and areas of the economy of Ukraine is performed. It is established that in most areas of training and areas of activity there is a lag in the average wage from the annual (monthly) income, which could be obtained by implementing the alternative of investing not in the formation of human capital of future bachelors and masters, and in placement of funds in the banking system. The results can be used both in research and in the practice of management to manage the formation of labor potential in terms of sectors of the economy of Ukraine.