How will Industry 4.0 Affect Talent Management?

HCMC – 09/11/2017.Industry 4.0 or digital transformation has become a hot topic in recent years, affecting not only those who work in 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 daily business operations 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 departments attract and retain talent.

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, compared to previous industrial revolutions, Industry 4.0 is developing at a much faster pace and is making a prominent appearance in the HR management field. Advancements in technology are changing the way organisations communicate and operate, and, as a consequence, impacting the hiring process.

In particular, as machines become more intelligent and user-friendly, your HR department must also adopt and utilise advanced technologies, such as an e-hiring system, to maximise workflow efficiency 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 that 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 lives.”

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

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

Sharing his thoughts on the topic, Mr Jon Whitehead, Managing Director of RGF Executive Search Vietnam, offered further insight into developments in the Vietnam job market. Organisations need to focus on identifying the potential talent pool that aligns with both the organisation’s culture and the currently vacant positions.

In particular, organisations must distinguish between active and passive candidates, from there you will be able to come up with a 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, it is more likely to attract quality candidates. At the same time, you are educating your potential candidates about the company, its people, and its culture, thereby building a long-term relationship with them that can be useful in the future when job opportunities arise.

Social media and e-hiring platforms are increasingly replacing traditional methods (newspapers or job boards). More and more companies are adopting this trend and developing intricate yet user-friendly online hiring processes and assessments.

The event ended with both speakers sharing their own experiences and wisdom to answer the 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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