How will Industry 4.0 Affect Talent Management?

HCMC – 09/11/2017. Industry 4.0 has become a hot topic in recent years, affected not only those who work in the manufacturing but also a handful of other industries. As a result, we start to see the implementation of smart technologies, such as business intelligence and cloud computing, in the daily business operation to boost productivity.

Also impacted by the phenomenon, HR 4.0 became a new “trend” and has gained a fair share of popularity on various social media platforms, gradually inching its way into the day to day management of every organisation across the globe, particularly affecting the way HR department attract and retain talents.

The issue with HR 4.0 was addressed in a recent Chambers Co-host Event hosted by AmCham with the participation of reputable speakers, Rick Yvanovich (Founder & CEO, TRG International) and Jon Whitehead (Managing Directory, RGF Executive Search Vietnam).

How can HR management take advantage of the current trend?

According to Mr. Yvanovich, compares to the previous industrial revolutions, Industry 4.0 is developing at a much faster pace and is making a preeminent appearance within the HR management field. The advancements in technologies are changing the way organisations communicate and operate, and as a consequence, impacting the hiring process.

In particular, as machines are becoming more intelligent and more user-friendly, your HR department must also adopt and be able to utilise the advanced technologies, such as an e-hiring system, to maximise their workflow and increase information transparency.

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Mr. Yvanovich also commented that a smarter and more streamlined process will replace the traditional hiring method, allows HR department to gain instant access to various pools of talents. The information obtained then can be sorted and analysed smartly via Job-Fit assessments or other intensive assessments to further understand the candidates’ emotions, behaviours and how they can fit in with the culture of the organisation.

In addition, Mr. Yvanovich disagreed with the idea of artificial intelligence will eventually replace HR personnel in the future. “We gain benefits from these technologies as they allow us to reach higher grounds. That’s why we now have smart devices and applications to assist us in our everyday life.”

By implementing IT solutions, such as analytics and forecast, HR managers will be given accurate and useful insights into the recruitment process, minimised errors made using only our instincts.

Finding “Mr./ Ms. Right” for your organisation

Sharing his thoughts on the topic, Mr. Jon Whitehead, Managing Director of RGF Executive Search Vietnam, gave further intel on what’s happening in the Vietnam job market. Organisations need to focus on finding the potential pool of talents that fit with both the organisation’s culture and the currently vacant positions.

In particular, organisations must distinguish between active and passive candidates, from then will you be able to come up with specific strategy and communication platform for each group.

Furthermore, building a solid company’s identity also plays a critical role. A well-established brand gives off a sense of stability, therefore, are more likely to attract quality candidates. At the same time, you are educating your potential candidates about the company, the people and the culture, hence building a long-term relationship with them, which can be useful in the future when the job opportunities arise.

Social media, like LinkedIn, Facebook, Twitter and various e-hiring platforms are starting to replace the traditional methods (newspapers or job boards). More and more companies are also adopting this trend and developing an intricate yet user-friendly online hiring process and assessment.

The event ended with both speakers sharing their own piece of experience and wisdom to answer the much-pressing questions from the audience. HR 4.0 is certainly a hot trend in this day and age, and the Vietnamese job markets are picking up on the changes, making it even more robust and competitive than ever before.

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