Human Resources as Key Success Factor of Small and Medium Sized Enterprises in Russia

Abstract

Successful development of small and medium-sized enterprises (SME), ability of entrepreneurs to recognize and use of key factors of successful grow are a foundation for the progress of a modern economy. In economic science there is a set of the theoretical approaches explaining business success, beginning from the labor theory of value and Schumpeter’s theory of innovators. The article contains results of the conducted research of success of SME in Russia. According to the interview result of 250 heads of SME enterprises (carried out in autumn of 2014), it is revealed that the key success factors are human resources, professional and personal qualities of employees and enterprise abilities of management. This statement is in a conflict with the widespread point of view about rent character of the Russian economy. At the same time, according to the results of research, payment for human resources is at a low level that significantly reduces possibility of their effective usage. It is established that there is no one-to-one association between success of enterprises and payment for labor. Dependence between success and ratio compensation of heads and employees was also analyzed. The interrelation of spending share of employee labor payment as well as remuneration share of heads in enterprises revenue and their success was analyzed. The drawn conclusions make it possible to expand ideas of positive potential changes in the environment of small and medium-sized business in the Russian economy.