Ways to improve the social efficiency of small and medium-sized businesses in the context of digitalization

This article discusses the issue related to ways to improve the social efficiency of small and medium-sized businesses in the context of digitalization. The authors consider key aspects concerning the internal component of business processes through the prism of a behaviorist approach – study the role of human capital in the formation of social efficiency of the company, identify ways of measuring it and the role of job satisfaction, as well as the impact of this indicator on the productivity of the workforce as a whole. The social efficiency of a company is a complex phenomenon, therefore, the study of ways to improve it through internal business processes is important. As the main conclusions to the work, the authors formulate recommendations for improving the level of job satisfaction through the integration of the latest digital technologies. An important place in this article is devoted to the study of the issue related to the factors of increasing job satisfaction. The authors consider the main groups of factors that form the level of employee satisfaction with work. Based on the identified factors, the authors make recommendations to improve the social efficiency of the company. In the final part of the article, the authors make conclusions regarding the further development of the social efficiency of small and medium-sized businesses in the conditions of digitalization.

1. Bulina A.O., Mozgovaya K.A., Pakhnin M.A. (2020), “Human capital in economic growth theory: Classical models and new approaches”, St Petersburg University Journal of Economic Studies, vol. 36. no. 2. pp. 163–188, https://doi.org/10.21638/spbu05.2020.201

2. Cijan A., Jenič L., Lamovsek A., Stemberger J. (2019), “How digitalization changes the workplace”, Dynamic relationships management journal, vol. 8, no. 1, pp. 3–12, http://dx.doi.org/10.17708/DRMJ.2019.v08n01a01

3. Ereshko F.I., Kazarenkov V.I., Kamenev I.G., Kokuitseva T.V., Medennikov V.I., Neverov A.V., Ovchinnikova N.E., Ovchinnikova O.P., Ostrovskaya A.A., Shimanskii A.A. (2020), Human capital management in the conditions of digitalization of the economy: assessment of its impact on economic growth, competitiveness, social well–being and development of society. Monograph, Peoples’ Friendship University Publ. House, Moscow, Russia (In Russian).

4. Kokoeva V.A., Plekhanov S.V. (2021), “Some issues of social and economic efficiency in the field of entrepreneurship”, Social Sciences, no. 1, pp. 59–68.

5. Matousek R., Ceremes N.G. (2021), “The asymmetric impact of human capital on economic growth”, Empirical Economics, vol. 60, no. 3, pp. 1309–1334, https://doi.org/10.1007/s00181-019-01789-z

6. Morozov A.A. (2018), “Corporate social responsibility in the context of company socio-economic development”, Rossiyskoe predprinimatelstvo [Russian Entrepreneurship], vol. 19, no. 10, pp. 3119–3128, http://doi.org/10.18334/rp.19.10.39401

7. Osiobe E.U. (2019), “Review of the literature on human capital and economic growth”, Business and Economic research, vol. 9, no. 4, pp. 179–196, http://dx.doi.org/10.5296/ber.v9i4.15624

8. Shevchenko E.A. (2018), “Social responsibility of business as an instrument of effective regional policy”, Bulletin of the Institute of Friendship of the Peoples of the Caucasus. The Economy and national economy management, no. 1. pp. 12–12.

9. Soboleva Yu.P., Korgina O.A., Danilova N.E. (2018), Social resource of business: the essence, directions of assessment of labor potential // Proceedings of Voronezh State University. Series: Economics and Management, no. 1, pp. 138–148.

10. Soboleva N.E. (2020), “Determinants and the Interrelationship Between Job Satisfaction and Life Satisfaction in Russia”, Monitoring public opinion: Economic and Social Changes, no. 1(155), pp. 368–390, https://doi.org/10.14515/monitoring.2020.1.15

11. Temnitskiy A.L., Besokirnaya G.P. (2018), “Work and life satisfaction in modern Russia: models of interrelation”, Herald of Omsk University. Series “Economics”, no. 4, pp. 138–152.

12. Turnaev R.S. (2021), “Social responsibility of business”, Tribuna uchenogo [Tribune of the Scientist], no. 2, pp. 271–276.

13. Udalov D.V. (2020), “Digital transformation of the socio-economic space”, Vestnik of the Saratov State Socia-Economic University, no. 3 (82), pp. 33–36.

14. Untura G.A. (2019), “Estimation of Human Capital Influence on Economic Growth in Russian Regions under Conditions of Financial Shortage”, Spatial Economics, vol. 15, no. 1, pp. 109–133, http://dx.doi.org/10.14530/se.2019.1.107-131

15. Ustinova K.A., Gordievskaya A. N. (2019), “Job satisfaction and the parameters that define it”, Problems of forecasting, no. 1 (172), pp. 123–130.

16. Wijaya P.Y., Hutnaleontina P.N., Ismayanthi T.I. (2019), “Social Capital Effectiveness Toward Competitive Advantage and Business Performance (Case Study Of Village Credit Institutions In Gianyar Regency, Bali, Indonesia)”, Scientific Papers: Management, Economic Engineering in Agriculture & Rural Development, vol. 19, no. 3, pp. 1942–1954.