Trends in the Institutional Transformation of the Russian Economy and Their Impact on the Quality of the Labor Force from the Perspective of Workforce Productivity

Abstract

The research featured the transformations of formal and informal institutions and their effect on the quality of labor force and workforce productivity. Such trends in institutional transformation as digitalization, government regulation, and environmentalization are known to affect labor market, labor legislation, education, and public administration. The research objective was to identify the main trends in institutional transformation and assess their impact on the quality of the labor force. The methods included a content analysis of documents, an analysis of statistical data, and a regression analysis. The article introduces an extended review of scientific publications, a description of trends in institutional transformation from the standpoint of labor productivity, and a forecast of workforce productivity as affected by the abovementioned institutional changes. The research results can help to plan strategies for personnel development on the business, industrial, regional, and state scale. If strategizing of labor resources is based on relevant global and national trends, it can increase company’s performance, ensure economic growth in the region, and improve the living standards of local population.