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HUMAN CAPITAL, TECHNOLOGICAL PROGRESS AND ECONOMIC GROWTH1

M. Martincova

Abstract

In terms of technological approach to the definition of information society, an important aspect in the formation of human capital is the development of technological innovations and their impact on human capital. Level of human capital amenities is becoming a key factor in the economic growth of the country. In terms of information society, there is a fundamental change in human capital, as a result of the introduction of new technologies. Innovation can bring transformation in job skills, work organization and institutional relations between the company and the job. Aggregate studies on innovation and job skills deliver findings, which identify a weak trend towards greater skills in terms of human capital due to the introduction of innovations. Part of the studies confirm that an advent of innovations leads to depreciation of existing skills - reducing the level of human capital, while the latter points out that the impact of innovation is reflected also in raising the level of job skills - raising the level of human capital, as it assumes that the with uptake of new technologies, employees are exempt from routine work and can better manage the production process. Innovations liberate the employees and at the same time require the adoption of employees with new skills. This leads to the transfer of employees from one company to another and to increase competition among professions. It is widely recognized that innovation is not likely to be directly related to employment, and the decisive manner, in which subsequent technical, technological and organizational changes affect jobs. In terms of development of human capital, there are essential findings that innovative changes vastly increase the importance of human thought in the labor force - the stronger the penetration of information technology in companies, the greater the need for independence and education of employees, who are motivated, to decide on overall sequence of their work. Slovakia is lagging behind in the creation of new knowledge. Innovation implies a long-term downward trend and low investment in education and in research and development at government level as well as in the private sector.

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DOI resolver: doi.org/10.5593/sgemsocial2017/13/S04.106

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