Developing Global Relevant Skills in the Fourth Industrial Revolution

This chapter carries out extensive review of literature on the 4th Industrial Revolution. In the last decades, many stakeholders such as industries, governments, employers and employers' organisations, workers and their unions, and academics have expressed divergent opinion of the 4th Industrial Revolution. The 4th industrial revolution is the 4th stage of a mechanical movement process that began towards the end of the 18th century where mechanised production replaced manual production process. Research shows that the 4th Industrial Revolution brought about ‘disruptive technologies' such as artificial intelligence, robotics, blockchain, and 3D printing, which transforms social, economic, and political systems, often in unpredictable ways.

Disruptions of the Fourth Industrial Revolution

The Fourth Industrial Revolution has resulted in the disruption of the world of work whereby technological innovation such as artificial intelligence (AI) and robotics. These disruptions may be creative in that as some jobs are lost due to the development of artificial intelligence, new ones are created. This chapter explored the impact of disruptive technological innovations on the future of work. The skill gaps brought about by the emergence of the Fourth Industrial Revolution was also explored in this chapter.

Developing Leadership Talent for Success in the Fourth Industrial Revolution

Digital disruption brought by the Fourth Industrial Revolution (4IR) technologies has a major impact on cultures, strategies, structures, and processes of organizations. This change also requires a shift in leadership mindset to respond to opportunities, challenges, and dilemmas in the implementation of Industry 4.0 (I4.0). Moreover, effective leadership in the digital age requires developing a wide variety of core components of leadership. Therefore, improving the essential characteristics, capabilities, and skills of leaders plays a pivotal role in accelerating the path to success in the I4.0. In this regard, this chapter provides an in-depth discussion on leadership aspects of I4.0. The purpose of this chapter is to first present emerging leadership styles in I4.0. The chapter also explores what leadership roles have become more relevant in the age of I4.0 and what kind of fundamental leadership skills they need to possess in order to succeed.

Corporate Governance and the Future of Work, Work-Family Satisfaction, and Employee Well-Being

This chapter examines the issues of work satisfaction, employee well-being, and the future of work from the perspective of and as impacted by two prominent and contemporary models of corporate governance. It begins with an examination of work satisfaction and leadership, informed by motivation, leadership, and workplace attachment theories, then discusses how these theories have been impacted by changes in corporate governance. Present-day implications of corporate governance on work satisfaction and well-being are examined, followed by the implications of these considerations for the future of work in the fourth industrial revolution.

Green Work-Life Balance and Global Leadership in Industry 4.0

Industrialization brought about by the development in science and technology is like a double-edged sword. Despite the benefit of the massive industrialization to humanity, it is noted to exert huge pressure on the ecosystem and the environment. Green work-life balance is an emerging concept aims at reshaping the work-life debate by introducing environmental dimension. Employees as agents of change are saddled with the implementation of organizational green work-life balance policy. However, the implementation of green work-life balance policy across the diverse culture by multinational companies poses a serious challenge. This chapter explores green work-life balance and global leadership in Industry 4.0.

Changing Skills and Attendant Stressors Appraising the Efficacy of Traditional Wellness Programmes in the 4IR

The need for pertinent skills is invaluable in every industrial evolution and will not be any different for the fourth industrial revolution. Appropriate employee wellness programmes will enable an increase in the potential of employees to develop the required skills necessary for the fourth industrial revolution. The fourth industrial revolution is having the blurring line effect between the physical, digital, and biological spheres characterised by systems, scope, and velocity. This chapter shall address the need of changing skills and its relevance to the fourth industrial revolution, employee effectiveness, and efficiency. The fourth industrial revolution requires employees to be multi skilled rather than being specialist skilled.

Fourth Industrial Revolution, Accounting Profession Well-Being, and Environmental Well-Being in South Africa

Industry 4.0 centers on the connection of physical and cyber networks to allow actionable insights and real-time information flow such that the well-being of the creatures, workplace, and the environment is guaranteed. Plastic pollution has been a major menace in South Africa and the proposed ban has not been implemented by the government. With the current measures of reducing the pollution, it was evident that the use of fourth industrial revolution has not been effective. Thus, it was recommended that government should enforce labelling of very single-use plastic and an associated fine should be attached to every single-use plastic found polluting the environment. It should be made mandatory for all management accountants to include cost for plastic pollution as one of the operating costs of each organisation. Also, it is recommended that robots can be erected around the cities, towns and workplace picking plastic waste. This will show the seriousness of the government to combat the single use plastic pollution and automatically curb the littering of the environment with plastics.

The Dynamics of Workplace Relationships, Employee Well-Being, and the Fourth Industrial Revolution

Employees globally are expected to flourish amidst the uncertainty, volatility, and complexities of the muddy waters of Industry 4.0. To identify changes in the perceived workplace relationships and consider initiatives that will improve interpersonal relationships at work in the 4IR. A review of literature will be conducted on the following key variables: 4IR. In the 4IR, provision of interpersonal other than digital means of communicating with employees, effectiveness in intra-organizational information sharing among employees, constant training on new and improved technological tools of working will be useful. Human resource practitioners should focus on designing strategies to improve IR at work, in order to minimize interpersonal conflicts, provide social support and improve organisational performance.

Readiness for the Fourth Industrial Revolution

This chapter explored the readiness of a South African university to take part in the fourth industrial revolution by exploring the experiences of students in science and technology on the impact of COVID-19 in the learning of their practical modules. Guided by two research questions, namely how the COVID-19 has impacted students' engagement with their practical modules and students' readiness to learn remotely and carry out the practical aspects of their modules, the chapter employ a qualitative case study approach to explore the views of students that offer courses that involve practical. Seven fourth-year students were purposively selected as study sample. Data were generated online using Google forms and were analysed thematically. The chapter was framed using the technology acceptance model. Findings revealed the following: ease and clarity of concept, lack of interaction with others, lack of motivation, lack of access to ICT facilities, lack of relevant materials to execute practical tasks, and lack of conducive learning environment.

Appraising the Future of Employee Health and Wellness Programmes in the Fourth Industrial Revolution

Employee wellness is an important aspect of human resource management system that has to be considered in the various phases of industrial revolution. It should be noted that during the industrial revolutions work has been transformed from handmade methods to machines. Work productivity improved, yet at the same time the number for those required for manual labour slightly reduced. In each of the revolutions the need to maintain employees remained significant. Therefore, it becomes imperative in the 4th industrial revolution even though managed heavily by machinery and technology to continue with employee wellness for effective productivity within organisations going forward. This chapter will deal with the employee wellness as a strategy that deals with enabling employee welfare. A healthy workforce enhances employee wellness.