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The enterprises operating in the e-business area represent an example of a sustainable entrepreneurship. These enterprises belong to those for which the people are the most valuable assets. Human capital management (HCM) represents a modern concept of people management that is based on the business strategy. Via measurement and assessment of the effectiveness of the utilization of human capital and effectiveness of investment in its development, this concept leads to the increase of performance and competitiveness of the enterprise within the context of sustainability. As part of the questionnaire survey, we found that enterprises in Slovakia have little use of the HCM concept. Despite the fact that they consider investing in education or training as the main form of investment in human capital, they do not evaluate the effectiveness of this investment in practice. By analyzing foreign studies, we have found that e-business enterprises consider IT education to be very important for their performance, competitiveness, and sustainability. The aim of the article is to explain the nature of HCM and to propose an approach to assess the effectiveness of investment in education as a part of the HCM process. Implementation of the approach was implemented in a fast-growing medium-sized IT and e-business enterprise where education is mainly implemented in the IT field. We also used an internal enterprise data analysis. The proposed example of HCM implementation in the part of evaluating the effectiveness of investment in education and the article can serve as a theoretical and practical aid to human resources managers in implementing the HCM concept.
Kucharčíková et al. (Fri,) studied this question.