Question :- Discuss comprehensively on the human resource management planning in relation to industrial revolution 4.0.
“… In a survey conducted in 2019 by McKinsey, 60% of executives interviewed expected half of their employees to be retrained or upskilled in the next five years.
A Gallup study shows that organizations that have made a strategic investment in employee development report 11% greater profitability and are twice as likely to retain their employees.
Still, the Covid-19 crisis pushed companies to increase pay cuts, voluntary retirement and layoffs. The consequences on the workforce have been devastating, reducing the long-term competitive edge of the companies. Employee morale has decreased, training and development costs have been cut off, and valuable knowledges has been lost. At the same time, many other companies are ramping up hiring to accommodate new skills needed.”
Question :-
Discuss comprehensively on the human resource management planning in relation to industrial revolution 4.0.
Step by step
Solved in 2 steps
