Outlook on Upskilling and Reskilling Capacities for Industry 5.0

Abstract

Purpose of This Chapter: This research aims to study the need for more age of qualified talent. The evolving corporate needs, education, and curriculum require urgent reform. Current university methods do not align with corporate demands due to outdated content and ineffective pedagogy.

Design / Methodology / Approach: Drawing on established research, this study delves into 7 prominent training strategies across 14 sectors. A survey of 53 HR professionals and managers forms the basis for employing the non-linear best–worst method (BWM) and the Fuzzy BWM to discern the most effective training and development (T&D) modules. This comprehensive methodology ensures a nuanced analysis of T&D practices and insights for businesses seeking to align with Industry 5.0 demands.

Findings: On-the-job training emerges as the most impactful method, followed by case studies, interactive group learning, and more. These methods enhance employee skills in Industry 5.0.

Research Limitations: Limited by a small sample, future research should expand participant diversity for robustness.

Practical Implications: The study holds significance for bridging the skill gap between academic institutions and Industry 5.0. Aligning strategies with industry needs reduces skill disparities, fuels growth, and addresses employability. The study’s impact extends to society, lowering unemployment and shaping a resilient, adaptable workforce for Industry 5.0.

Originality: This innovative research examines decision-making for implementing T&D strategies in the emergence of Industry 5.0, aligning with a human-centric approach to business transformation.

Citation

Sachan, R., Chauhan, K. and Agarwal, V. (2024), "Outlook on Upskilling and Reskilling Capacities for Industry 5.0", Shrivastava, R. and Jain, K. (Ed.) Humanizing Businesses for a Better World of Work, Emerald Publishing Limited, Leeds, pp. 1-16. https://doi.org/10.1108/978-1-83797-332-320241001