Human capital development and active labor market policies in Slovakia

This paper analyses how Slovakia's Active Labour Market Policies (ALMP) contribute to human capital development by combining demand‑side financing instruments - voucher schemes and the pilot of Individual Learning Accounts (ILA) - with centrally procured, employer‑linked programmes. Building on administrative evidence from RE‑PAS/REPAS+ and KOMPAS+, and on centrally organised initiatives such as "Ready for Work" and "Ready for Work in Industry," the study synthesises theoretical foundations, legal developments and programme outcomes to assess employability effects and the accumulation of productivity‑enhancing skills. The new Act on Adult Learning (No. 292/2024) introduces micro‑credentials and ILA, complements the Employment Services Act (No. 5/2004), and aligns the Slovak framework with European approaches. Results show high completion and meaningful short‑term job placement among completers of voucher‑based schemes, while centrally procured programmes address sectoral needs through shared infrastructure and employer partnerships. The paper recommends a blended policy model that scales ILA with quality assurance, links provision to qualification standards and micro‑credentials, and invests in guidance and information systems to make learner choice effective.