HR management efficiency factors and their impact on creation of a commercial innovative product

Abstract

Globalization and growing consumer needs regarding the quality of a commercial innovative product are making to look for new ways to improve the efficiency of HR management. The topic is urgent because one of the main aspects of the company’s effective operation is assessing the factors of HR management, which include socio-economic, innovation and management, as well as internal groups of factors focused on modern economic needs of organizations operating in particular socio-economic conditions. Relevant issues underlie the study of key factors in the formation of company’s HR management system. The aim of the research is realized in the article, the factors of effective functioning of HR management are assessed through key performance indicators, the objective and key results (OKRs), and their influence on creation of a commercial innovative product is revealed. This assessment takes into account the achievement of tactical and strategic goals of the organization, using different groups of factors, including the motivation of HR managers. Assessment through key performance indicators and selected goals and key results allows the company’s management to control the cost of salaries, bonuses or increase company revenue by increasing labour productivity. It was determined as a result of the study that one of the main factors in the effective HR management is the motivational prerequisites. Prospects for further research involve finding effective ways to assess the factors that determine the effectiveness of management of human resources as company’s strategic asset.