Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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“… 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.

 

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