A Modern Approach to Assessing Human Capital in the Public Service

Abstract

Today in the economical science there is an increased interest in human capital, its role in the socio-economic development of the society. First of all, a gradual change in fundamental economic principles is observed: there exists a reassessment of importance of various capital types in the economy. Physical capital fades into background, giving way to non-material productive forces, human capital. In this regard, the issue of an objective assessment of this resource for the practice of public service is topical. There is a very extensive set of tools to calculate the cost of human capital production, its residual value, growth potential. However, the developed toolkit practically does not take into account the branch features of the manifestation of human capital. Evaluation of the intellectual component in the commercial environment significantly affects the value of the company’s assets , in the public sector - it allows to determine the priority ways of developing the social and economic sphere, to develop adequate long-term development strategies. This work considers the main methodological approaches to evaluating human capital for various reasons. They are of a general nature, irrespective of the sectoral specialization of workers. The author’s approach to the evaluation of human capital is also presented. We have put into circulation an additional criterion for evaluation - an index for the professional development of civil servants, which is a specific mechanism for assessing human capital. The application of the index considered allows us to evaluate the human capital of the public service from a new angle, taking into account the sectoral affiliation . This problem has no significant scientific developments, and therefore requires further research.

Keywords

• human capital
• human capital assessment
• evaluation criteria
• professional development
• public service