HR 4.0, a framework for shaping people strategies in the 4IR, is an initial response to this challenge. In this White Paper, we examine the changing role of companies in shaping people strategies and the role of the human resources (HR) function as a key driver in defining how work is experienced, how it is done and how the workforce evolves. As businesses seek more holistic strategies to prepare for the future of work, CEOs are turning increasingly to the human resources function to evolve rapidly and adapt to the changing demands. HR professionals are finding themselves at the front line of helping their organizations and leaders to drive technology absorption, foster innovation, enable new work models and, ultimately, attract, retain and develop the workforce of the future.
The first part of this paper explores why the Fourth Industrial Revolution creates the impetus for transformation in people strategies and HR practices as well as the implications of specific drivers of change for organizations and their workforce.
The second part of the paper outlines what business leaders—including Chief People Officers / Chief Human Resource Officers (CHROs), CEOs and other C-suite leaders— can do to respond through six imperatives highlighted in this paper, including practical models and case studies.
The third part of the paper describes how organizations are already responding to the need for change, with examples of emerging roles, technologies and critical skills for the future of HR.