LABOR CRISIS AND THE ROLE OF SOCIAL INSTITUTIONS IN OVERCOMING IT

The spread of digital technologies in the modern economic system, the actualization of intellectual types of labor activity, allows us to talk about the need for significant institutional changes in the organization and regulation of hired labor and labor relations. This is due, inter alia, to the spread of the labor crisis, as a systemic problem of the transforming economy, when for a certain part of hired workers the meaning-forming function of labor activity is lost. The lack of positive reactions to incentives and motives aimed at increasing labor productivity, all other things being equal, is a serious limitation of progressive and qualitative transformations. In particular, the issues of the manifestation of the labor crisis become relevant when the creative component of labor activity is a priority, and the search for new incentive mechanisms for expedient activity, expanding competence, knowledge potential, skills and abilities can be considered as one of the priority drivers of growth and development. The issues of the formation and management of human resources in modern society are associated with the paradigm of labor relations, which are undergoing a period of radical transformations due to changes in the nature of labor, its fragmentation, and the differentiation of workers’ interests. The need to organize new forms and methods of labor motivation requires the modernization of social institutions, whose activities are related to vocational training, retraining, as well as the formation of the entire complex of socio-cultural factors that affect a person’s self-determination, his own socio-economic assessments and prospects. Digital technologies create the potential for qualitative transformations, but their implementation is possible if these changes are fully demanded by society and will be reflected in increasing the efficiency of labor activity. A synergistic effect is possible here if technological and institutional development is in line so that the spread of digital technologies is perceived through the prism of increasing the level and quality of life, stimulating the needs for self-improvement and self-development.

labor crisis, labor market, social institutions, digital economy, labor potential, diversified economy, professional marginalism, labor motivation, incentives, labor productivity.

Petrenko T. V., Shcherbakova T. A. Labor crisis and the role of social institutions in overcoming it. Business. Education. Law, 2021, no. 3, pp. 53—57. DOI : 10.25683/VOLBI.2021.56.338.