Correlation between HR-system efficiency and its formation based on the job competency model in the digital world

The development of economic relations resulting from formation of the fourth industrial revolution, require a change in approaches to HRmanagement basic principles. One of these approaches in modern conditions might be a competency-based approach. The article describes an experiment on the formation of HR-management system based on the job competence models of four large metallurgical enterprises and its results by the system efficiency criteria. The system efficiency criteria, methodological basis of the chosen approach, HR-management system generation algorithms based on the job competency models are given in the article. It has the evidence base confirming the existence of a positive correlation between the effectiveness of the HRmanagement system and the method of its formation based on the job competency models and the competency-based approach. The article examine the relevance of this approach in conditions of the fourth industrial revolution and digital economy.