International cooperation in competition for human capital

Abstract

The substantive characteristics of competition for human capital are studied. The positive and negative global effects of competition for human capital are researched. The mechanism for establishing international cooperation in competition for human capital is presented. The determinants of the impact of globalisation and technological changes on competition for human capital are identified. To implement innovative ideas and business models, modern companies need highly skilled personnel. Competition for human capital can have a certain impact on innovative development, macroeconomic stability, social aspects, etc. It is precisely because of the existence of such competition that certain countries invest in education, introduce innovative human resource management technologies. Increased competition for human capital is caused by the migration of skilled workers from one country to another. This is because such workers are looking for better living conditions, opportunities for their own professional development. Technological changes have radically reformatted the requirements for employee qualifications. Through systematic international cooperation, it is possible to create a balanced mechanism of competition for human capital that will be beneficial for many global market participants. In the course of analysing the impact of globalisation and technological change on competition for human capital, determinants were identified. In order to reduce the negative effects of competition for human capital, countries should create certain tools to manage such competition. Relevant management requires an integrated approach that ensures effective adaptation of individual entities of competitive relations to new conditions in the global labour market. In the context of this research, the instruments for managing competition for human capital in the face of global instability were grouped into two main directions: strategic human resource management, technological and organisational adaptation. The proposed groups of tools for managing competition for human capital in the face of global instability allow to create a balanced approach to managing such capital.