Interrelationship of business and higher education for productive human resources training

Today’s economic environment is characterized by volatility due to dynamic shifts in consumer preferences, digital technology and supply chain globalization, and demographic shifts. These challenges impose a volatile human resources market, which is what graduates and other job seekers face. Companies’ needs are changing under the influence of external threats, and employer puts forward all new requirements to their employees. In this regard, modern higher education mission is expanding, which requires practitioners’ involvement in the educational process. The purpose of the study is to determine the most important aspects of interrelationship of educational organizations and business. It causes the need to solve the following tasks: determining the peculiarities of the modern human resources market state, identifying the most significant qualities of an applicant in the labor market, determining the methods of forming competitive competencies in interrelationship of business and universities. To achieve the goal, the deductive and modeling methods and system analysis were used in the research. It has been concluded that it is necessary to joint efforts of organizations and higher education when training productive human resources to ensure economic growth of the country. The study results can be used when forming a strategy of interaction between employers and higher education, as well as creating and adjusting curricula of educational programs.