Abstract: This study dwells on personal and occupational orientations of young people as they approach their future career choices. The researcher studies a possibility of correlation between the most significant welfare factors and complex international indices of the quality of life. These interconnections form the basis of approaches to the analysis of the utility function of labour. The function is determined as useful for the assessment of professional identity in the formation of human resources. Besides, the article characterises the main factors of the utility function of labour using the results of the author�s monitoring study. It also specifies the notion of function in the context of people�s professional identity. Finally, the article outlines the areas of government regulation in the formation of human resources.