Human capital and talent management in the knowledge economy

The purpose of the study is to analyze the relationship between human capital and talent management in the context of the knowledge economy, as well as to identify factors influencing the effective use of labor potential. The research uses methods of economic and statistical analysis, comparative analysis of international practice and correlation modeling of labor market indicators. The scientific novelty of the research lies in the development and testing of the integral human capital index, which quantifies the state and dynamics of Kazakhstan’s human resource base in the knowledge economy. This approach considers talent management not only as a set of personnel practices, but also as an important element of state socio-economic policy that affects the sustainability of the national economy. The analysis showed that the processes of digitalization and the stabilization of the labor market contribute to the growth of human capital in the medium term. At the same time, insufficient spending on research and development remains the main obstacle to the transition to an innovation-based knowledge economy. Predictive modeling confirms the continuation of the positive dynamics of the integral indicator in the context of further development of digital competencies and institutional strengthening of talent management systems. The results obtained confirm that talent management is a strategic tool for the development of human capital in the knowledge economy. The integration of educational policy, labor market regulation and corporate personnel management practices is a prerequisite for sustainable economic growth and long-term competitiveness.

1. Schultz T.W. (1961) Investment in Human Capital // The American Economic Review. Vol. 51. No. 1. P. 1–17. (In English)

2. Becker G.S. (1964) Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education. New York: Columbia University Press. 187 p. (In English)

3. Mincer J. (1974) Schooling, Experience and Earnings. New York: Columbia University Press. 152 p. (In English)

4. Lucas R.E. (1988) On the Mechanics of Economic Development // Journal of Monetary Economics. Vol. 22. No. 1. P. 3–42. (In English)

5. Romer P.M. (1990) Endogenous Technological Change // Journal of Political Economy. Vol. 98. No. 5. P. 71–102. (In English)

6. Drucker P.F. (1969) The Age of Discontinuity: Guidelines to Our Changing Society. New York: Harper & Row. 408 p. (In English)

7. Drucker P.F. (1993) Post-Capitalist Society. New York: Harper Business. 232 p. (In English)

8. Stewart T.A. (1997) Intellectual Capital: The New Wealth of Organizations. New York: Doubleday Currency. 278 p. (In English)

9. Edvinsson L., Malone M.S. (1997) Intellectual Capital: Realizing Your Company’s True Value by Finding Its Hidden Brainpower. New York: Harper Business. 240 p. (In English)

10. Watkins D. (1998) Talent Management // Training and Development. Vol. 52. No. 12. P. 6–7. (In English)

11. Michaels E., Handfield-Jones H., Axelrod B. (2001) The War for Talent. Boston: Harvard Business School Press. 251 p. (In English)

12. Ulrich D., Brockbank W. (2005) The HR Value Proposition. Boston: Harvard Business School Press. 336 p. (In English)

13. Tsaousiotis T., et al. (2025) A new perspective on talent management: An integrative review of the current literature. Administrative Sciences. No. 15 (3). Р. 102. https://doi.org/10.3390/admsci15030102 (In English)

14. Zidan Shan & Yaqi Wang. (2024) Strategic Talent Development in the Knowledge Economy: A Comparative Analysis of Global Practices // Journal of the Knowledge Economy, Springer; Portland International Center for Management of Engineering and Technology (PICMET). Vol. 15(4). Р. 19570–19596. DOI: https://doi.org/10.1007/s13132-024-01933-w (In English)

15. Liu M. L. (2021) An empirical study on talent management strategies of knowledge-based organizations using entrepreneurial psychology and key competence. Frontiers in Psychology. Vol. 12. https://doi.org/10.3389/fpsyg.2021.721245 (In English)

16. Menezes F., et al. (2025) The role of talent management in enhancing employee retention: Mediating the influence of psychological empowerment // Sustainability. No. 17(7). 3277. https://doi.org/10.3390/su17073277 (In English)

17. Schinnenburg H., Böhmer N. (2025) Re-focusing talent management: Frontline and essential work as the contemporary challenge. Human Resource Management Review. No. 35(3). 101090. https://doi.org/10.1016/j.hrmr.2025.101090 (In English)

18. Ghasemi Y. (2025) Foresight in human resource management in knowledge-based // Journal of Research in Management and Digital Economy (PDF). (In English)

19. Mebratie E., Shanbel B., Awoke A., Dessalegne B. (2025) Knowledge-based human resource management practices and organizational performance in selected universities of Amhara regional state, Ethiopia: the moderating effect of intellectual capital // Cogent Business & Management. No. 12(1). https://doi.org/10.1080/23311975.2025.2491688 (In English)

20. Lenz M. V., Schmidt S. L., Schreyer D. (2020) The impact of personality traits on talents’ performance throughout development phases: Empirical evidence from professional football. // Applied Economics. No. 52(37). Р. 4073– 4091. (In English)

21. Hasmin Tamsah, Jumiaty Nurung, Nasriani, Yusriadi Yusriadi. (2023) Talent and knowledge management on employee performance in public organization // International Journal of Professional Business Review. Miami. Vol. 8. No. 4. Р. 01–16. https://doi.org/10.26668/businessreview/2023.v8i4.1557 (In English)

22. Nurbekova R., Ileuova G. (2022) Presidential youth personnel reserve development by talent management implementation in Kazakhstan // Қoғam. Scientific-Analytical Journal. No. (3/75). DOI: https:// doi.org/10.52536/2788-5860.2022-3.0222 (In English)

23. Iskendirova S., Zharov Y., & Zhulamanova D. (2024) Talent management in public administration of the Republic of Kazakhstan: Challenges and prospects // Public Administration and Civil Service. No. 1(88). Р. 48–63. https://doi.org/10.52123/1994-2370-2024-1202 (In English)

24. Turdalina S., et al. (2025) Human capital in the field of commercialization: Assessment of the competencies of technology transfer specialists // Buketov Business Review. Vol. 30. No. 1(117). P. 43–51. https://doi.org/10.31489/2025Ec1/43-51 (In English)

25. Rakhimzhanova G., Shayakhmetova L., Tolepov A., Maidyrova A., Tadjieva S. (2024) Economic assessment of the quality of human capital // Montenegrin Journal of Economics. No. 20(4). Р. 225–238. https://doi.org/10.14254/1800-5845/2024.20-4.19 (In English)

26. Polevoy S.V., Gelmanova Z.S., Gelashvili N.N. (2024) The impact of industrial poverty deprivation risks to the quality of human capital in Kazakhstan // Buketov Business Review. The Economics series. Vol. 29. No. 4(116). https://doi.org/10.31489/2024Ec4/96-109 (In English)

27. Dannye Bjuro nacional’noj statistiki Agentstva po strategicheskomu planirovaniju i reformam Respubliki Kazahstan. URL: http://www.stat.gov.kz (data obrashhenija: 01.03.2026) (In Russian)