Human capital priority: ESG – oriented strategy for managing economy
Keywords:Human capital, ESG – oriented management strategy, Socio-economic trends, Sustainable development, Fluctuations
In the contemporary world of continuous fluctuations, the stability of multilevel economic trends is largely determined not only by financial, but also by social performance. This trend is reflected in the formation of ESG – oriented economic management strategies.
The research substantiates the priority role of the human capital reproduction policy in the system of strategic management of ESG – oriented trends in the new economic realities. The objective of the paper is to identify the key components of a human capital development strategy to achieve progress-enhancing ESG benchmarks. The research methodology provides for a comprehensive analysis of the impact of the new economic conditions on the multi-level system of HR management, a substantiation of expert econometric toolkit providing parameterization of the human capital reproduction strategy, as well as for the identification of the benefits associated with the introduction of human-oriented principles of sustainable management at all levels. The result of the study is methodologically substantiated and empirically verified components of the strategy for the reproduction of human capital in the
management system of sustainable innovative development of the economy. It is substantiated that in the conditions of the new economic realities, the systemic algorithm of strategy formulation should be multi-level, which guarantees an endogenously consistent objective analysis of strategic measures in terms of achieving ESG benchmarks. The requirements for the ESG toolkit for evaluating strategic decisions at various levels of the management system have been formulated, as well as recommendations for economic actors on using the ESG toolkit were justified.