Countries of the EU are trying to create a single digital market. Therefore, this article aims to evaluate the current situation in the field of readiness of economic entities in Slovakia for challenges in the field of human capital management (HCM) when implementing digital technologies in their processes and to propose recommendations regarding the implementation of digital technologies. We used basic scientific methods and calculated Cronbach’s alpha, descriptive statistics, and the chi-square test to detect dependencies between variables. This article processes data from a questionnaire survey completed by managers or owners of economic entities in Slovakia. In 2020, we received answers from 905 respondents, and in 2021, our sample consisted of 561 respondents. We found that among the most used is digitalization in the field of GDPR and not the use of a personnel information system (HRIS). The assumptions that the size of the entity and the prevailing ownership influence the use of digital technologies were also confirmed. The article’s originality lies in the topicality of the examined issue and the extensive questionnaire survey spanning two years. It follows from the findings from previous articles, which pointed to the extremely low values of Slovakia within the DESI index.

Human capital (HC) is a key factor for enterprises’ performance and competitiveness. The aim of this study was to identify how enterprises in Slovakia perceive the impact of the investments in HC on business performance within the context of the implementation of human capital management (HCM). The content analysis was applied to analyze the different authors’ opinions on the substance of HC. These opinions were compared, and the knowledge obtained was synthesized. The article’s originality stems from the evaluation of the results from a unique questionnaire survey conducted with a specific focus on IT companies. This follows the presumption that these companies approach the application of HCM in an exemplary way, while being considered knowledge intensive. To collect the primary data, a questionnaire survey was performed in 113 Slovak IT enterprises and its results were analyzed using statistical tests of independence. The main findings include the corroboration of a positive effect of investments in the employees’ education and the implementation of HCM on the enterprises’ performance. Despite this, more than a third of the enterprises did not evaluate the effectiveness of investment in HC, and more than half of enterprises did not have the HCM concept implemented. Several solutions are recommended with respect to the HR managers’ training.

Human capital is represented by people who are carriers of knowledge, ideas and experience that contribute to increasing the performance and competitiveness of the company and the entire society. Human capital management helps companies achieve business goals through efficiency, which includes the effective use of human capital and the effectiveness of investment in it. The article aims to explain the essence of human capital management, offers new metrics for measuring the effectiveness of human capital, and points out a possible approach to implementing human capital management in a specific small trading company. We used the observation method in obtaining data about the trading company, content analysis in the examination of scientific articles and internal documents of the company, synthesis, descriptive statistics, and mathematical methods in the design of metrics for measuring the value of human capital through Excel statistical software, and deduction in the design of generally applicable rules for all types of companies. IBM SPSS software was used for the statistical evaluation of the questionnaire survey. We obtained the basis for making the article through a questionnaire survey, which was carried out in 350 Slovak trading companies. Using a survey, we found that up to 89% of companies do not have a human capital management concept in place and do not use and do not know metrics to measure human capital effectiveness. It is while companies are aware of the impact of investments in human capital on the overall performance and the size of the company´s profit. Based on it, we created metrics to measure the human capital´s value. Thanks to quantitative analysis, we identified KPIs for small business company—sales, profit. We found that external factors also affect the value of human capital. In the analysed company, the improvement of the working environment helped to increase the value of human capital, which also led to higher customer satisfaction. The article fills a gap in the scientific literature because it deals with the issue of implementing the human capital management concept and metrics for measuring the human capital´s value in the company. The theoretical and practical contribution of our contribution also lies in the use of common accounting documents in the quantification of the value of human capital. Companies can be inspired by the article because it provides an overview of the human capital management implementation in a small company, and designed metrics to measure the value of human capital.

Human capital management (HCM) helps manage and develop human capital (HC) in businesses through investments that increase the value of HC and contribute to improving the financial situation of companies. Industry 4.0 (4IR) presents new challenges especially for small and medium-sized enterprises (SMEs). The article aim is to find out how important SMEs perceive investments in HC, whether they evaluate the effectiveness of investments in HC and which of the selected HCM activities related to digitization they consider essential. It was used basic scientific methods, Cronbach’s alpha, descriptive statistics, and the chi-square test. It was found that in 2020 up to 49.56% and in 2021 up to 63.94% of respondents consider the funds spent on employees as investments in HC. In connection with digitization, it is striking that up to 76.98% of SMEs in 2020 and 68.34% of respondents in 2021 did not use a personnel information system (HRIS) and an even greater number of companies did not even prepare reports for the HC area. The originality of the article lies in the processing of a two-year questionnaire survey and in the intersection of HCM and Industry 4.0. This is a very current topic, which is also emphasized by the European Union. Future research could focus on employee training models (HC development), or on the culture of innovation and adaptability in companies that digitalize.

In the current era of digital technologies, digital human capital, including its components, such as knowledge, skills, abilities, experience, and competencies, is becoming the most crucial factor of production in an enterprise. Regarding digitization, it is necessary to consider the so-called digital development of human capital. Since various surveys and research point to the low level of digital literacy of the population, it is crucial to implement the education process in companies, which represents one of the forms of investment in human capital. Through the training, training or education process, employees in the company will acquire the necessary digital skills and knowledge, which will also increase their digital literacy. The article aims to point out the importance of education in the company's conditions, given the alarming values in the field of digital literacy. The article uses standard research methods such as analysis, synthesis, induction, deduction, and comparison.