Krilova I. G., candidate of Economic Sciences, Associate Professor, Mykolaiv National Agrarian University, M. Mykolaiv, Ukraine

ORCID ID: 0000-0002-2911-2474
e-mail: allaburkovskaya2010@gmail.com

Danylov M.V., Department of Management, Mykolaiv National Agrarian University, M. Mykolaiv, Ukraine

ORCID ID: 0000-0001-9979-9307
e-mail: mdanilov331@gmail.com

Labor efficiency as an important factor in human development

Abstract. Modern challenges of time require entrepreneurs and economists to develop new approaches to determining and evaluating the results of work. It is the efficiency of labor that is the basis of both the economic development of the country and the increase in the level of human well-being. Insufficient labor efficiency due to neglect of labor interests, manifestations of the economic crisis, lack of decent wages and incentives for workers create obstacles to productivity in enterprises, which in turn negatively affects the overall economic development of society and the state.

Purpose. The purpose of the article is to study the lack of efficiency as one of the main factors of human development. It is proved that in the conditions of European integration and requirements of market integration of labor efficiency is the main basis in the process of improving labor productivity by raising living standards and the use of innovative technologies by enterprises.

Results. In the results of the analysis of labor efficiency as an important factor of human development in the modern domestic economy, it can be noted that Ukraine lags far behind the leading countries of the European Union and the United States in increasing labor productivity, using innovative technologies in the economy. Factors influencing low labor productivity in Ukraine are low wages, insufficient number of highly qualified specialists in various spheres of economic activity, low level of GDP and, as an example, low level of innovative activity of domestic enterprises.

Keywords: labor efficiency, labor productivity, innovative activity of enterprises, living standards, wages, labor incentives, human development index, innovative activity, globalization.

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