The economic crisis and uncertainty demands skillful and effective management of intellectual potential on the part of companies. The experience of numerous companies shows that the internal transformation is a significant element of their development. The systematic creation and implementation of innovation and knowledge transfer is particularly important for sustainable business activity. The study reveals examples of human resource management practices that encourage creativity among employees and productivity growth. The paper is an attempt to assess the relationship between the undertaken actions and the competitive edge of a company. The paper includes some examples of modern methods of personnel management, including the measures of their effectiveness.