Human capital in the struggle for competences in labor market

Abstract

Human potential is well known to make the main production force in a globalised modern world. However, in order human potential to become human capital educational system is to set and achieve critically new goals. Current university students will tomorrow be working in new economic reality making managerial decisions in the continuously changing environment with subordinates not always ready to face these changes, meet and work under innovations and possibly having a different mindset. Therefore, not only a particular employer, but also economy in general strives for improving approaches to training specialists of a new generation. This niche is for a university as an advanced educational, research and innovative infrastructure, which is aimed at shaping and developing cadre potential able to implement plans into reality of economy development. Our research goal is to identify resources and shortcomings in the process of training and developing a professional being in demand in modern economy. The methodology comprises general scientific methods relevant for conducting research in social economic processes, and patterns in their interrelation and interconnection; review of global practices in development of the key managerial competences; observation, formalization, historical review, logics, abstraction, analysis and modeling as well as special methods of graphic presentation, heuristic method and experiments. The research has found that the key tool for future and acting professionals' development is the professional standard, which establishes the conformity of the level and quality of job performance to the requirements of the standard. Professional standards include levels of qualification and competence knowledge, skills and activities while the teaching staff arranges psychological and pedagogical environment favorable to the achievement of the desired outcome with minimal risks, as training specialists is costly both for the student and for the state. To conclude, training specialists of a new generation based on professional standard introduction is a kind of technological process aimed at harmonizing the relations of labor market and educational institutions.