Modern Trends of Human Capital Formation
Authors: Virsaladze Naira , Kipiani Malvina 
Published: January 2024

Human capital has undergone significant qualitative changes along with the development of society. Today, high-quality human capital is the most important and sought-after resource for economic growth and development. Knowledge, education, health care, quality of life and the role of leading specialists became the basis of sustainable development of the country. Since gaining independence and transitioning to a new economic system, the higher education system of our country is in the process of continuous reforms. It still needs significant changes to come closer to an internationally recognized grading system. It is most important for the country that young people receive education in accordance with international standards. In order to study the experience of advanced countries, students of higher educational institutions are sent to different countries of the world through exchange programs, which bring great experience to young people. Professional education is also of special importance for the development of human capital. It gives an opportunity to young people and people of any age to acquire a profession that will allow them to be quickly employed, get a job and contribute to the economic development of the country. The Covid-19 pandemic has brought to the fore an important workforce issue such as the shortage of skilled workers. The Georgian labor market cannot respond quickly and adequately to the professions and specialties in demand. There has not yet been a "reset" of teaching to prepare a skilled workforce with modern skills and habits. Higher education, vocational schools and their real employers still work separately. Unfortunately, the goals and objectives of both parties are often missed. Increasing the minimum score for admission to higher education programs through entrance exams is a serious consideration. The issue is directly related to the use of qualitative indicators of human capital. A specialist equipped with average knowledge finds it difficult to establish himself or cannot work in the profession. This is a serious problem and requires a timely review. It is known that the more money spent on higher education, the better the results in the national economy. An educated workforce yields better results. Keeping high-quality human capital and anchoring it in place requires no less care even after receiving proper education. Such specialists go abroad because of low pay. This process is called "intelligence drain", which is a very familiar process for Georgia. In terms of maximizing the use of human capital, in recent years, inclusive education has especially advanced. It has a double load. It can be said that the moral side is much more for this category of people, but from a pure economic point of view and from the interests of the country, it is no less important issue. Together with inclusive education, today a great role is assigned to the use of accumulated knowledge and experience of older people, professionalism. It is this category of people who create the "silver economy" .Their role is quite serious and important for the full-fledged economic development of the demographically aging society. Against the background of the development of modern technologies and the achievements of science, for the economic growth and development of the country, a completely new importance is assigned to the continuous development of human capital every day, both quantitatively and qualitatively. In accordance with the challenges of news, it is necessary to establish and consistently establish new and demand-related trends. Article in Georgian.