Cost of human capital estimation and management in medical organization

Abstract

© Medwell Journals, 2016.The purpose of this research is the analysis and improvement of technology of human capital cost management for maintaining efficient personnel policy in a modern organization. The study offers researchers method of assessment and management of investments in human capital. This method involves structure of cost behavior during formation and development of human capital, change history of investment risks on each stage of business career, modeling of volume of investments on various degrees of their riskiness, mathematical analysis and forecasting profitability of investments in human capital, development of recommendations on human capital cost management. Furthermore, it determines investment appeal of human capital development. The real method is assayed on the materials of a project on human capital development in "KORL" JSC. To maintain human capital cost management we offer systematic monitoring of its current value and change on the basis of the offered optimizing models, following the investment approach for personnel decision making, personalization in accounting the investments in human capital and its profitability.