The impact of the digital economy on employment and labour market transformations: The main trends

Abstract

This article aims to identify the main transformations in the system of social and labor relations caused by the digital economy formation. At the preparatory stage of the study, the authors conducted a consistent review of scientific literature on the problem of transformation of social and labor relations in digital economy. The main part of the study was devoted to an expert survey in which thirty-two experts were interviewed and online discussions were conducted. The experts were chosen according to their professional experience. The heads and HR directors of IT businesses were a part of the expert group. Expert interviews made it possible to identify the key characteristics of the modern labor market and its developments in the context of the development of the digital economy. The authors highlight key findings from the study, such as how human values and motivations for work have changed, how employee management has changed, how social and labor interactions are intertwined, and how organizations have changed from vertical to horizontal management structures. The study’s findings enable us to draw the conclusion that the transformation of social and labor relations necessitates new approaches for managing human resource and taking into account the worker as the key player in the technological process.