The employees' intellectual capital and their motivation to use their knowledge, predispositions and skills are believed by be important factors determining the competitive advantage of a modern organization. Thus, the success of an organization depends heavily on the attitudes and behaviors of its employee, which, in turn, are influenced by the employment conditions. The form of employment constitutes a primal element in a complex system of creating human capital of an organization. The article gives an overview of basic knowledge of law which every professional manager, willing to manage people in an effective way, should possess. The skill of strategic management of human capital is increasing in significance in modern economy and becomes an indispensable element of future managers' education.