Abstract
The purpose of the study is to analyze the relationship between human capital and talent management in the context of the knowledge economy, as well as to identify factors influencing the effective use of labor potential. The research uses methods of economic and statistical analysis, comparative analysis of international practice and correlation modeling of labor market indicators. The scientific novelty of the research lies in the development and testing of the integral human capital index, which quantifies the state and dynamics of Kazakhstan’s human resource base in the knowledge economy. This approach considers talent management not only as a set of personnel practices, but also as an important element of state socio-economic policy that affects the sustainability of the national economy. The analysis showed that the processes of digitalization and the stabilization of the labor market contribute to the growth of human capital in the medium term. At the same time, insufficient spending on research and development remains the main obstacle to the transition to an innovation-based knowledge economy. Predictive modeling confirms the continuation of the positive dynamics of the integral indicator in the context of further development of digital competencies and institutional strengthening of talent management systems. The results obtained confirm that talent management is a strategic tool for the development of human capital in the knowledge economy. The integration of educational policy, labor market regulation and corporate personnel management practices is a prerequisite for sustainable economic growth and long-term competitiveness.