DETERMINING KEY HUMAN CAPITAL COMPETENCIES FOR INDUSTRY 4.0: A CONCEPTUAL FRAMEWORK

Abstract

In the present times, the great industrialists are convinced that the world is at the verge of a new Industrial Revolution 4.0 to happen. Therefore, on the global, national and organizational level, the issue of Industry 4.0 has attained an agenda status among the policy makers. Since the evolution of organizations depends on the evolution of workforce, therefore, the competency development of human capital has become a primary concern for the technology champions around the world to stay relevant in the I.4.0 era. By determining the key competencies of human capital in the I.4.0 environment, organizations can be best facilitated to develop their human resource so that they can sustain and grow as per the standards of I.4.0. This study explores the literature to find out the key human capital competencies required in I.4.0, under the categories of personal, social and technical competencies. Consequently, all the competencies are well-integrated to develop a conceptual framework of competencies for Smart HR. 4.0. The findings of this study contribute well in better decision making for agenda setting and strategic plan formulation for competency development of human capital in the organizations. Keywords: Industrial Revolution 4.0, Industry 4.0, Smart HR 4.0, Impact of I.4.0 on Human Capital, Human Capital Competency for I.4.0.