NEW CHALLENGES FOR THEORY AND PRACTICE OF HUMAN CAPITAL IN THE CONTEXT OF THE EMERGENCE OF "INDUSTRY 4.0": COMPETENCE ASPECT
Abstract
The article presents the authors' concept of transformation of the theory and practice of human capital at the stage of the Fourth Industrial Revolution and the formation of the Sixth Technological Order. An argumentation of the content of the transformation processes inherent in human capital under conditions of Industry 4.0 formation is presented. The methodological arsenal of the human capital theory has been supplemented. The facets of the phenomenon of the "crisis of human capital theory" and the authors' vision of its forms of manifestation are outlined. The authors' interpretation of the theoretical construction of the concept of "human capital" is disclosed. An emphasis is placed on the fundamental importance of the competence component of human resources produced by the new economy and network society. A connection between the scale and intensity of the use of digital technologies and actualization of new requirements for competencies as a component of human capital is proved. The nature of "qualification gaps" and "qualification pits" is revealed; the prerequisites for their occurrence are identified and analytical estimates of their negative impact on macroeconomic dynamics are provided. The use of the "architect of the skills of the future" as a metric for determining the depth of the "skills gap" at the international level is emphasized. The impact of the shortage and redundancy of workers' qualifications on the devaluation of human capital is substantiated. The evidence of the scale of under- and over-qualification on the example of OECD countries is presented. Expert estimates of the depth of the qualification pit in Ukraine are presented. The socio-economic nature of the "mismatch" phenomenon as a vertical-horizontal discrepancy between the existing parameters of human potential and those required by modern socially useful activities is revealed. The essence of internal and external depreciation of human capital, wear and tear and deterioration of the competence component of human capital is revealed. The authors' vision of differentiated risks and rates of devaluation of human capital by the degree of use of Industry 4.0 technologies is presented. The actualization of educational policy and the concept of "lifelong learning" is substantiated. A proposal is made to introduce a competency-based policy as a new institution of educational policy. The latter, according to the authors, should become a leading tool for implementing the concept of lifelong learning, including its component - organizational learning.
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Backes-Gellner, U., Janssen S. (2009). Skill obsolescence, vintage effects and changing tasks. Applied Economics Quarterly, 55(1), 83–104. DOI: https://doi.org/10.3790/aeq.55.1.83
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Walter, S., Lee, J. D. (2022). How Susceptible are Skills to Obsolescence? A Task-Based Perspective of Human Capital Depreciation. Foresight and STI Governance, 16(2), 32–41. DOI: https://doi.org/10.17323/2500-2597.2022.2.32.41
Heckman, J.J., Kautz, T. (2012). Hard evidence on soft skills. Labour Economics, 19(4), 451–464.
Kautz, T., Heckman, J. J., Diris, R., Ter Weel, B., Borghans, L. (2014) Fostering and measuring skills: Improving cognitive and non-cognitive skills to promote lifetime success. NBER Working Paper w20749. Cambridge, MA: National Bureau of Economic Research.
Hanushek, E.A., Woessmann, L. (2008) The role of cognitive skills in economic development. Journal of Economic Literature, 46(3), 607–668.
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