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HR 4.0: Integrating Technology with Human Capital Strategy

Author : Mr. Pankaj Verma, Mr. Rohit Verma Journa Name: International Journal for Novel Research in Economics, Finance and Management Volume: 4 issue: 2 Year: Volume-4-issue-2 Views : 11
Abstract:
In the era of Industry 4.0, the Human Resource (HR) function plays a critical role in bridging the gap between technology and human resources. Although technology is taking over most of the tasks traditionally performed by human resources, there is still a growing need for flexible HR functions to address the challenges of managing people. To achieve this flexibility, technology can help bring agility to the HR process. Agility, which is the ability to move quickly and smoothly, is not a new concept and has been adopted by major companies such as Google, Apple, Facebook, Amazon, and Microsoft. In the context of HR, agility means the ability to adapt and develop individuals and processes in response to rapid and unpredictable changes, to support people, key strategies, and organizational adaptability [1], [2]. As an HR or Learning and Development (L and D) professional, being agile means being able to drive employee engagement and retention in alignment with the company’s overall objectives. HR Agility is particularly suitable for volatile HR functions where standardization of functions is difficult [3], [4]. In order for organizations to become agile, their workforce must focus on customer satisfaction and deliver value to them. However, since the HR function is not typically designed to provide direct incentives to the customer, it is often criticized for being slow to respond, which leads to dissatisfaction among employees. Therefore, organizations must encourage and empower HR to be more attentive and responsive to changing technologies and business needs in order to remain competitive and attract top talent. In an agile organization, HR continues to provide recruitment, development, performance management, and other HR functions, but using agile methodologies. There are three aspects of HR agility: the ability to quickly and efficiently identify issues that need to be addressed, the ability to reduce the time it takes to develop and implement a response, and the integration of analysis and design thinking to anticipate, plan, and target programs with the highest likelihood of success .

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