*What is Industry 4.0?
The general definition of Industry 4.0 is the rise of digital industrial
technology.
Industry 4.0 transformations allow us to work alongside
machines in new, highly productive ways.
* Revolution from past to present:
1.
3.
2.
4.
Industrial Evolution
Phase of earlier 3 Industrial Revolutions
1. 1760 to 1840 - Ushered in Mechanical production: Railways and steam
engine.
2. 1870 to 1940 - Mass production; electricity and assembly line
3. 1960 to 2010 – Computers, Semiconductors, main frame computing,
personal devices, internet.
Buildings block of Industry 4.0
Big data
analytics
Augmente
d reality
Autonom
ous
Robots
Simulatio
n
Industry 4.0
Additive
Mfg
Cyber
Security
Horizontal
and
vertical
system
integratio
n
Industrial
Internet
of Things
Challenges with HR in Industry 4.0:
The forecasted scenarios of Industry 4.0 developments differ greatly. These are those who
view Industry 4.0 as an answer to the current issues, and those who think that Industry 4.0
will only advance these issues. The success or failure greatly depend upon the courses of
actions taken today.
1. Changing business paradigms
The changes to the value chain require companies to embrace new
business models and partner with other companies, including
suppliers, technology companies and infrastructure suppliers.
2. Safety and security
As data is collect throughout the supply chain, questions of data ownership will
arise. It is important for companies that their data wont end up in the hands of a
competitor. Another concern that will enlarge for manufacturers is cyber security:
it is crucial to ensure that they cant be infiltrated and that their factories cannot
be taken over or cut off.
3. Developing the Leaders of Tomorrow
HR Managers constantly face the challenge of mentoring and developing the
future pillars of an organization. This is one of the trickier challenges HR Managers
face because lot of employees have a poor relationship with their managers.
However, developing your employees for better roles helps you save the costs of
recruiting and training a new employee.
4. Building a culture of Continous Learning
Learning is a key factor in any organization. Upskilling employees help a company to gain an
edge in the market however , it is a difficult challenge in HRM. Likewise, employees feel
stimulated, engaged, and gain development opportunities. However, managers should
ensure that the skills gained by a set of employees serve to enhance their job roles.
5Building a Diverse Team
As connectivity improves, the world becomes a smaller place. One of the HR
challenges now faces is the challenge of managing a workforce with diverse
backgrounds, ideas, and experiences. Also, This challenge of HRM comes with the
responsibility to build a corporate work environment that welcoming for everyone.
6. Managing the Turnover Rates
One of the largest challenges of HRM is the challenge of reducing the turnover rate in
an organization. One solution to this is to create a quality employee experience. High
turnover rates in any organization lead to an increase in cost and use of resources.
Apart from the cost, high turnover rates can also affect the morale of employees in an
organization.
7. Globalization
HR managers often deal with teams and workforces in geographically distributed
Areas. A company’s customer demographic is also more diverse. HR managers are task
with devising new plans and strategies to build an inclusive workforce that leverages
technology of the 21st century. In addition, managers must embrace the diversity of
their workforce, and work towards reaching a new audience through them.
8. Training and continuing professional skills development
The actual educational profile of a typical Industry 4.0 worker have not yet been
developed. These workers would most possibly be graduates from a STEM (Science,
Technology, Engineering, Mathematics ) background but in addition to strong
domain-specific competencies they will also be required to excel in general
competencies, such as managerial skills, understanding of the specific industries and
the interrelatedness of different industries across value chains, supply chains, and
processes.
9. Financial Management
A financial consultant is crucial for any organization, no matter how small it is. A
Financial advisor helps in making robust financial calls regarding cash flows, profit
Margin, reducing costs as well as help to increasing productivity. A business idea
Back by numbers is one that is more than likely to succeed.
10. Monitoring Performance
Set SMART goals to be specific, measurable, actionable, relevant they
Have been achieved.
Measure outcomes- the benefits that result from the work performed,
Rather than outputs.
And also, simplify and clearly define hoe you measure performance.
*ConclusionAbove all these were some of the common problem that HR face. However, the real
challenge in HRM is adapting to the ever-changing times. A strong HR management team will
be able to anticipate the changing corporate landscape of the future. Furthermore, they all
be able to prepare themselves and the employees for the upcoming challenge.