Multiple factors mediate the relationship between investments in ICT and their macroeconomic outcomes. The amount and quality of the available workforce has been identified as one of the complementary to investments in ICT factors. Unlike the developed countries, developing and Transition Economies (TE) do not represent a homogenous group that allows for adapting and implementing strategies of the more successful counterparts. As a result, these economies face the task of formulating unique investment and workforce management strategies. In this study, we investigate the relationship between a subset of investments in ICT, namely, investments in Telecoms, and a full-time Telecom staff, and propose a methodology allowing for formulating a complementary to investments in ICT workforce management strategy. Adapting a framework of neoclassical growth accounting as the theoretical foundation of our inquiry, we propose a two- phase approach utilizing multivariate regression and data envelopment analysis. We argue that our methodology allows for formulating complementary to investments in Telecoms, empirically-justifiable and theoretically sound HR strategies. The illustrative example of the proposed methodology in action substantiates the argument.