The Sustainability Formula: A Human-Centred Strategy for Managing Economic Trends in the Context of ESG-Transformation

Abstract

AbstractThe study identifies human-centred changes in the management strategy of multi-level economic trends under the influence of ESG-transformation. The objective of the article is to find ways of strategy for building human capital and minimizing HR risks installations in the management system of the specified economic trends. The research methodology provides for a consistent macro-meso-microanalysis of the impact of the changed conditions on the basic aspects of strategic management, starting from the macro level, with the definition of qualitative and quantitative parameters of likely HR benefits/risks related to implementing of human-oriented principles of sustainable management at all levels. The result of the study is a theoretical and methodological foundation and empirical verification of the strategy for increasing human capital in the sustainable management system. It has been justified that in the face of new global challenges, the systemic algorithm for the formation of this complex strategy should provide a complete, objective and internally consistent three-level expert-econometric analysis of human-oriented macro-, meso- and micro-economic strategies for managing economic trends. The requirements for strategic decision-making tools are formulated at the macro-, meso- and micro-level of the sustainable HR management system, as well as recommendations for economic actors on the use of expert-econometric tools for analyzing the reasons for slowing down the process of accumulation of human capital in the post-pandemic area, as well as for developing suitable public policy measures aimed at sustainable development of human capital are given.KeywordsHuman capitalHR-risksStrategic managementEconomic trends of sustainable and innovative developmentESG transformationJEL ClassificationJ24C54J64