Futuristic HRM and the Implications of Integration with Industry 5.0 for Sustainable Business

Abstract

The concept of non-replicable managerial processes enables acknowledging the subjectivity of HRM as one aspect to enhanceorganizational performance. The current study explores various elements that could support long-term success. In particular, the studyfinds two critical factors for strengthening an organization's performance as a human-centric organization and an organizational culturedetermined by knowledge management. Beyond the rationalistic view of human resources as mechanistic raw materials, the reflectionspresented here provide the first applicable knowledge about the factors to act and reflect on sustaining business. This study investigateshow an organization’s participation in diversity, inclusion, and people empowerment policies affects organizational performance tofacilitate businesses' evolution into the Industry 5.0 paradigm. A conceptual model is put forth to explain effective organizationalperformance by integrating H.R. management and Knowledge Management has driven corporate culture. The study then elaborates onhuman resources, knowledge management, and organizational performance as the crucial components to navigating the culturaltransformation in the Industry 5.0 scenario. Therefore, organizations should adopt a corporate culture emphasizing sustainability to gain acompetitive advantage. Limitations of the study may be interpreted as potential avenues for future research agendas.Keywords: Human Resource Management, Knowledge Management, Industry 5.0, Sustainability