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HOW TO CALCULATE AND ENHANCE HUMAN ECONOMIC VALUE ADDED IN TRADITIONAL COMPANIES

In today's competitive business landscape, companies are constantly searching for ways to maximize their efficiency and profitability. One often overlooked aspect of this quest is the value that human capital brings to an organization. Human Economic Value Added (HEVA) is a concept that sheds light on this crucial element, allowing companies to understand and enhance the true worth of their employees. Human Economic Value Added (HEVA) measures the economic contribution of human capital to a company. It goes beyond the traditional financial metrics and recognizes the impact that employees have on the organization's overall performance. HEVA takes into account factors such as skills, knowledge, experience, and productivity, providing a more comprehensive evaluation of the value employees bring to the table. Calculating and enhancing Human Economic Value Added is crucial for several reasons. Firstly, it allows companies to accurately evaluate the contribution of their employees, e...
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ABOUT ME

Elvin Mahmudov Asif oglu was born in 1983 in Tartar district of Azerbaijan Republic. He received both bachelor's and master's degrees in Public administration from Baku Engineering University.

He started his career in 2007 at Azersun Holding company, worked in management positions in the fields of human resources management, project management, organizational development and general management in companies such as Embawood, Modern Group, PSG, and PSG Management Systems.

In 2015-2018, in addition to his work, he was engaged in teaching activities at the State Administration Academy under the President of the Republic of Azerbaijan.

Since 2019, he is working as the deputy head of department at SOCAR.

Elvin Mahmudov is the member of the Management Commission of the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan, Azerbaijan Standardization Institute AZSTAND TK 21 - Committee on labor and profession, AZSTAND TK 08 - Conformity assessment committee, Project group of SOCAR, Jury of the startup competition "New Idea", as well as an Associate member of the International Compliance Association and a member of the International Association of Business Process Management Professionals.

He completed the relevant advanced courses of the Harvard Business School, the International Labor Organization (ILO) and the International Academy of Business and Financial Management.

He is married and has 3 children.


Social media accounts:

https://www.linkedin.com/in/elvinmahmudov

https://www.facebook.com/elvin.mahmudov.52

https://instagram.com/mahmudove

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HOW TO CALCULATE AND ENHANCE HUMAN ECONOMIC VALUE ADDED IN TRADITIONAL COMPANIES

In today's competitive business landscape, companies are constantly searching for ways to maximize their efficiency and profitability. One often overlooked aspect of this quest is the value that human capital brings to an organization. Human Economic Value Added (HEVA) is a concept that sheds light on this crucial element, allowing companies to understand and enhance the true worth of their employees. Human Economic Value Added (HEVA) measures the economic contribution of human capital to a company. It goes beyond the traditional financial metrics and recognizes the impact that employees have on the organization's overall performance. HEVA takes into account factors such as skills, knowledge, experience, and productivity, providing a more comprehensive evaluation of the value employees bring to the table. Calculating and enhancing Human Economic Value Added is crucial for several reasons. Firstly, it allows companies to accurately evaluate the contribution of their employees, e...
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