Abstract:
The commencement of Industry 4.0 entails considerable changes for organizations and societies and is contributing to the world having a perception being a place characterized by vulnerability, Uncertainty, Complexity, and Ambiguity (VUCA).By 2025, companies need to update 40 per cent of their skill through re-skilling and up- skilling to adapt to the changing labor market, 85 per cent of millions of jobs might be displaced and 97 millions new job roles will be created once they are adopted. Thereon, conceptualization and development of a skill readiness model for Industry 4.0 is needed. This paper adapted a systematic literature review (SLR) methodology with the Preferred Reporting Items for Systematic Reviews and Meta Analyses (PRISMA) guidelines and content analysis strategy to review 87 papers in various peer- reviewed journals published from 2014 to 2020.Based on this review, our study makes two theoretical contribution to the literature of Industry 4.0.First ,this paper come up with the six more prevalent skills (Cognitive analytics, Resource management skills, People management, Critical thinking, Lateral thinking, and Creativity and Innovativeness) that can be considered as the most crucial skill to work with Industry 4.0.Second, this review reveals that lack of in-house talent is a hurdle for the deployment of Industry 4.0 Initiatives. This establishes that organizations need to largely focus on branding the skills to support and strengthen the development of Industry 4.0 initiatives. In summary, these six most prevalent skills particularly lay out research agenda for future research on skill readiness for Industry 4.0 era.
