Formation of managerial competencies оf managers and their impact on the competitiveness оf the firm and the labor market in Ukraine

Abstract

The article identifies key factors influencing the labor market. The economic meaning of the concept’s «competence», hard skills, soft skills, their importance in the professional activity of the top manager has been investigated. The main advantages of hard and soft skills of the top manager have been ascertained. It has been proven that in contrast to hard skills, soft ones allow a manager to perform managerial functions (make decisions, organize and manage teams, large teams, negotiate effectively, delegate authority successfully, assign priorities, manage time, prevent conflict situations); increase the level of competitiveness of the firm; create new jobs; create financial, organizational prerequisites to meet the personal needs of employees. A method to determine the level of competence of managers has been developed, it will assess the level of their professional skills and its impact on the success of the organization. It has been substantiated that the implementation of managerial competencies creates the prerequisites for increasing the competitiveness of the firm by making considered strategic decisions, conducting competent analytical work on the strengths and weaknesses of competitors, creating a favorable psychological climate, reducing a staff turnover.