Analytical study of HRM practices in industry 5.0

Abstract

The industry 5.0 is the new revolution in which transition is going right now from industry 4.0. While industry 4.0 consisted of technological developments in the fields of data analytics, cyber physical systems and huge exposure to Artificial Intelligence, Machine Learning, IoT etc., Industry 5.0 is all about mass customisation or personalization of these existing technologies. While the world is going through this transition the current Human Resource Management of the organizations also has to go through this transition. The present research analyses certain factors affecting the HRM practises during this process. There are hypotheses formed on factors such as better performance, emotional intelligence, automation, and cross disciplinary workforce. The authors also try to propose certain possible and suitable suggestions based on analysis of these hypotheses towards smooth processing of the transition.