Influence of human resources on the economic sustainability of metallurgical enterprises in ukraine

Анотація

The article examines the relationship between personnel and economic stability in enterprises, using the Ukrainian metallurgical sector as an example. It has been proven that the deepening personnel shortage, migration processes, employee mobilization, and deterioration of financial results in enterprises actualize the need for a comprehensive assessment of the relationship between the efficiency of human capital use and the economic stability of industrial enterprises. An analysis of the concentration of human resources in large metallurgical enterprises of Ukraine was conducted, which showed that during 2022-2024, enterprises with more than 250 employees accounted for an average of 74.8% of labor costs and 74.5% of total personnel costs in the industry. It was found that, despite the military challenges, labor costs and total personnel costs showed positive trends, indicating the preservation of the priority of investment in human capital. Based on the financial indicators of the eight largest metallurgical enterprises in the central-eastern region of Ukraine, the efficiency of human resource utilization was assessed using the income-per-employee indicator. Significant differentiation in the economic return on human capital was revealed, and it was established that enterprise scale does not determine human resource efficiency, nor does high per-employee income guarantee financial stability. An integral index of human resources stability in metallurgical enterprises was proposed, combining four interrelated components: the economic productivity of human resources, investments in human capital, human resources stability, and the financial capacity to support personnel reproduction. Directions for practical use of the index at the enterprise, industry, and regional levels were determined. The proposed methodological approach enables a comprehensive assessment of the contribution of human resources to the economic stability of enterprises, facilitating industry and interregional comparisons, identifying human resource risks, and justifying management decisions regarding the development of human capital during Ukraine’s post-war industrial recovery. Keywords: human capital, human resources, industry, metallurgy, competitiveness, economic sustainability, social and labor relations, financial performance, human resources sustainability, human resources return coefficient, personnel, employment.

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