Integrated approach to assessing the efficiency of human capital investment in the oil and gas industry

Alexandra Andreeva; Valeria Markeeva

UDC 331.1

INTEGRATED APPROACH TO ASSESSING THE EFFICIENCY OF HUMAN CAPITAL INVESTMENT IN THE OIL AND GAS INDUSTRY Integrated approach to assessing the efficiency of human capital investment in the oil and gas industry

АА Аа

Published in Economic and Social Research · Volume 12, Issue 1 · Pages 8–20 · Rubric: Economics of Innovation-Driven Growth: Theory and Practice

EDN: OLXGXU

Received: 21.01.2025 Accepted: 04.02.2025 Published: 22.04.2025

Authors

Alexandra Andreeva

ORCID SPIN

Valeria Markeeva

ORCID

Alexandra Andreeva

Academic degree: candidate of economic sciences

Science rang: docent

National Research University of Electronic Technology Associate Professor · Institute of Economics, Management and Psychology · Moscow

National Research University of Electronic Technology Career Guidance Consultant · Career Development Center · Moscow

ORCID SPIN

Valeria Markeeva

National Research University of Electronic Technology “Management” field of study · Moscow

ORCID

ABSTRACT

In this work, a model was developed allowing the assessment of the impact of human capital investment on financial, operational and social performance of the largest Russian oil and gas companies. In the course of applying the model, a positive influence of personnel costs on revenue and net profit indicators has been established. However, statistically significant relationship has been not found between personnel costs and profitability indicators. It was stated that personnel costs are moderately reducing staff turnover, but their relationship to labor productivity requires further study. It has been concluded on the most effective approach to human capital management, which combines the integration of financial and social indicators, the introduction of non-material motivation methods and the use of modern technologies. As a result of model approbation, recommendations were formulated, aimed at improving the efficiency of human capital management in the context of geopolitical challenges and ensuring long-term sustainable development of oil and gas companies.

KEYWORDS

human capital, oil and gas industry, personnel costs, operational efficiency, assessment model, profitability, financial indicators, social indicators, motivation methods, staff turnover, strategic management

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