HR 4.0 An Intriguing Future

The compelling quest for predictive investigation of Human Resources 4.0 was prompted by aspirational CHROs engaged with our body of work. This inspired us to test the future scenarios through primary and secondary research. The objectives were twofold; to establish the impact of technology disruptions and ascertain the facets of future HR strategic engagement from the perspective of CXOs, CHROs & Employees.

We live in a Volatile, Uncertain, Complex & Ambiguous VUCA World Order. The Human Resource Function has a critical role in shaping the organization as a "Future Ready Resilient Workplace;" this is emerging as the prime expectation of CEOs. Although this has nearly 100% acceptance, the pathfinders are few. The sole reason is the inadequate forecast of unpredictable technological and VUCA impact on organizational design and workforce psychology. Accurate forecasting will consistently call for evidence-based insights and a deep scientific investigation through data scientists. "Contingent Adaptability" will be the critical determinant of sustainability for organizations in the years to come. Thus strategic engagement of HR function calls for envisioning the organization's design for years to come concerning employee experience at all touchpoints, collaborative structures, and supportive tech-enabled systems & processes. A lot has changed with the advent of COVID-19. In our conversations with HR leaders, the following priorities appear at the top of the mind recall:

1. Creating a sense of purpose-driven culture: Align Culture & Purpose for success
2. Designing future-ready workforce: Upskilling for Technology & Adaptive Leadership
3. Designing a unique employee experience: Evolving as Design Centric CoE
4. Leveraging Analytics: Incorporating behavioral predictability through AI & Big Data
5. Empathetic Collaboration: Minimize the stress in Supply Chains; C-Suite collaboration

It is imperative to appreciate that the Industry and HR 4.0 converge into technology and human dynamics dual challenges at varying intensities and complexities. The HR 4.0 would need to adapt to the emergence of the following technologies in their operations:

• Artificial Intelligence & Data Science
• Robotic Process Automation
• Machine Learning
• Cognitive Platforms and Deep Machine Learning
• Augmented Virtual Working Systems & Metaverse Dynamics

This will redefine the scoping of staffing with technology overtaking the jobs in the next few years across the organization. Industry 4.0 is redefining the human-technology interface and emerging as a competitive advantage with progressive adoption. Thus only strategic jobs will remain while others will be taken over by technology or outsourced to niche technology partners. Also, attrition on account of lifestyle aspirations will continue. The participation dynamics of the workforce are also changing; thus, the balance of the following would need to be accomplished:

• Employees "Ready for Tomorrow"
• Domain Experts, Gig Workers & Digital Nomads who can be "Contingent Contracted"
• Members "Shared for Collaboration" across the Global Ultimate Supply Chain Partners
• Use of "AI-driven Bots" to manage analytics and tech-enabled operations

This use of the above techno-people facets will emerge as a competitive advantage in the coming years. Clarity of Sense of Purpose & Aligned Culture emerges as a critical responsibility area; to be supported by an empathy-driven ecosystem that will ensure success. This calls for extensive collaboration of C-Suite leaders across the business value chain to manage contingencies. Thus the future skills for HR are anticipated as under:

• The practice of "Psychology at Workplace" as expertise
• Use of Psychometrics suited for scenarios in decision making
• Use of People Analytics for behavioral and evidence-based human insights
• Developing Digital Savvy Human Resources for Virtual Networks
• Working with Robotics, Big Data, BlockChain & Emerging Technologies
• Designing Digitally Networked Organization
• Enthusing Tech-Culture in the Organizational Fabric
• Design Thinking to solve Complex-Human Centric Problems

Talent Management will become a complex design that will call for Lifestyle Management Oriented Systems, Structures & Compensation. Unique career designs will be a necessity for professionals. Thus, openness to digital nomads and gig workers operating in multiple contract scenarios are envisaged to be the most probabilistic career propositions. The complexities and unpredictabilities in business will require high motive and high talent senior workforce to be retained. We will also see a time when an aging workforce will be extensively desirable, calling for initiatives for their development for future-readiness. Multi-Contract, remote, and flexible work designs will become the norm in the coming years, with many professionals opting for actualized career designs.

With the world becoming increasingly borderless and with the specific niche skillsets in demand, the international mobility of the workforce will be a given. As a result, organizations will need to focus on global mobility programs. In addition, the availability of a worldwide contingent workforce will also be a critical determinant of success in HR 4.0.

With business, people, technological, and market challenges ever-increasing, the HR challenge grows multifold in terms of Designing the Organization for Success accentuated through agility, empathy, and resilience, continually calling for bouncing back after every shock and turbulence.

Thus, in conclusion, HR 4.0 will ensure CHROs are at continual crossroads with complex human-centric problems, envisioning the ever-changing future organizational landscape, humanization of technology and data, and ensuring a perpetual emotional & socially intelligent culture. HR will have to evolve as a Design-Centric Center of Excellence that will ensure the organization's steering through omnipresent perennial turbulence and disruptions. Thus HR 4.0 ready must strategically support Industry 4.0 dynamics.

We now live in a Scientific World of Management Sciences. It is intellectually stimulating.

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