INNOVATIVE APPROACH TO HUMAN CAPITAL MANAGEMENT UNDER CONDITIONS OF STRONG TURBULENCE OF FOURTH INDUSTRIAL REVOLUTION

Traditional approaches to human capital management do not work practically at all nowadays, since they are based mainly on the hypothesis that employees are conscientious. An enterprise would act as a provider of a social and scientific stereotype of an employee's labor behavior. At that, the focus of individual self-conscience, which grew up during the third industrial revolution, has shifted considerably towards closeness, social deprivation, and economic alienation of a personality from an enterprise, society, and family. Even though present-day CEOs are well aware of the logics of the motivation process, their awareness does not provide comparative advantages in human capital management, since motives are not obvious. Traditional need-based and process-based theories (by F. Taylor, A. Maslow, D. McClelland, F. Herzberg, V. Vroom, J. S. Adams, etc.) make it possible only to guess which particular motives prevail, but it is difficult to "identify" them. Even application of the Total Performance Scorecard (TPS) by H. Rampersad is limited considerably. The main drawback of all those theories is the axiom of progressive development of a company, which does not consider with mentalities of working generations. Owing to strong turbulence of the world economy, one should change approaches of human motivation by emphasizing conscious development of individual human capital; the paradigm of management of those processes at an enterprise has to be altered actively. This paper analyzes employees' motivation to labor and conscious development of their personal human capital by applying J. Collins's developments related to continuous self-improvement of companies; our analysis is based on reasons for bankruptcy of the world's largest companies. Special attention is paid to changes in mentality of employees related to Generation X, Generation Y (the Millennials), and Generation Z. This article presents a complex sociological survey that has concerned Russian and Azerbaijani employees and their employers; this survey has confirmed efficiency of the suggested approach to productive management of human capital.