Evaluating the effectiveness of investing in human capital under digital transformation of economy

he current economic situation in Russia is dualistic. The economic crisis forces enterprises to reduce investment in all areas. At the same time, the process of developing the digital economy, the need for the development and implementation of innovations, and the high level of market competition encourages enterprises to intensify investment activities. In such circumstances, the problem of investing in personnel training is especially relevant. Businesses require unique specialists who can quickly adapt to changing conditions and build up the necessary competencies fast. The classic higher education system does not have time to adapt its programs to the constantly changing requirements of the labor market. Corporations, with sufficient investment resources, are ready to invest in staff training, provided that there is a visible economic effect. The author suggests using the ROI methodology based on the five-level Jack Phillips model, which allows evaluating the effectiveness of investments in personnel training to confirm the effectiveness of interaction between the University and the Corporation, motivating the latter to invest in the training of future personnel of the enterprise. The author used statistical, scientometric and qualitative methods of analysis. The analysis of statistical and analytical information used methods of absolute, relative and average values; retrospective analysis; the grouping method, as well as the content analysis method. Methods of expert and factor analysis were used to substantiate the results of the study. The study analyzes the implementation of interaction between Samara State Technical University and corporate partners who act as customers and investors in the training of personnel in the forms of integrated training in the framework of the main educational program, project-educational intensive and interdisciplinary project teams. The main trends of interaction between the University and industrial partners in the implementation of practice-oriented project training were formed. The main stages of the ROI assessment methodology at the University in the implementation of training with the participation of a corporate stakeholder were considered. The quantitative dynamics of project implementation in the forms of practice-oriented project training was evaluated. The prospects for the development of these forms of interaction was evaluated, taking into account the amount of investment per 1 student and the effect received by the investor. Conclusions about the prospects for the development of investment in training by corporate holding structures complete the paper.