HR 4.0: Are we ready for the change?
The Fourth Industrial Revolution (4IR) or Industrial Revolution 4.0 is blurring the lines linking the community and technology, fusing the physical, digital and natural worlds. The impact of those changes on the way people work and businesses produce value will span all industries, economies, and societies and redefine the future of work. Industries and governments will need to get a feel for these changes and support the workforce evolution at the same time where people are expected to use their full potential.
HR 4.0, a structure for shaping people strategies in the 4IR, is an initial response to this challenge. The changing role of companies in shaping people’s strategies and the role of human resources (HR) function as a key driver in defining how work is practiced and how the workforce evolves.
6 Essentials to implement in HR 4.0
- Developing New Leadership Capabilities for the HR 4.0
As organizations operate more distributed business models, leaders will have to lead from the edge, adopt the right technologies, and drive the vision of organizational culture and outline innovative people strategies for the future of work
2. Managing the Integration of Technology in the Workplace
The way people work is changing. An emergent area of responsibility for HR is to collaborate with CEOs and C-suite leaders to attain the optimal combination of human workforce and automation to guarantee a positive impact on the future of work and for that, the focus on online HR training is pacing up.
- Enhancing Employee Experience
The escalating complexity of the workforce and the use of technology and online HR training are calling for a change in the way work is practiced. HR plays a vital role in defining, measuring, and enabling the meaningful employee experience in the HR 4.0
- Building an Agile and Personalized Learning Culture
HR acts in a leading role in nurturing the ethnicity of lifelong learning in the context of declining demand for certain skills, the emergence of new ones, and the requisite for talent to continuously learn, unlearn and relearn with the help of Online HR training and virtual meets…
5. Establishing Metrics for Valuing Human CapitalThe mutually valuable relationship among the employees, organizations, and society makes it critical for HR to create a forceful case for establishing feasible and scalable measures of human capital as a key performance driver and constantly exhibit the impact of its work on business performance.
6. Embedding Diversity and Inclusion
Changing social, economic, and political forces carry an opportunity for organizations to intensely use inclusion and diversity. HR 4.0 has to play an essential role in promoting a sense of purpose and belonging in the workforce, and equality and prosperity for the communities and regions in which they operate.
Innovative technologies like the Internet of Things, Big Data, and Artificial Intelligence are serving to automate most HR processes, ensuring more efficient and productive teams. Above all, state-of-the-art technology applications are transforming traditional HR into HR 4.0
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