Industry 4.0 moved at pace, integrating smart and autonomous digital technologies such as AI, Big Data and robotics. But there’s a new revolution taking over…
So, what is Industry 5.0?
Industry 5.0 refers to robot and smart machines working alongside people, with added resilience and sustainability goals included. Where Industry 4.0 focused on technologies such as the Internet of Things and Big Data, Industry 5.0 seeks to add human, environmental and social aspects back into the equation. Ultimately, this human-machine collaboration has the potential to be the most efficient way of working across multiple industries.
Key pillars of Industry 5.0
Putting people at the heart of organisations is a fundamental part of Industry 5.0. The narrative will shift from people serving organisations, to organisations serving people. Instead of discarding employees when AI can perform repetitive manual tasks, they will utilise human capabilities elsewhere.
From problem solving to creative thinking, there will always be the need for a human touch that robots simply can’t fulfil. This revolution aims to support and empower humans – not supersede them
Employees are placing high importance on a company’s purpose, values and environmental responsibility. The more employers can show their commitment to ethical practices and reducing their environmental footprint, the stronger buy-in they’ll get from their people. Industry 5.0 encourages businesses to be part of the solution, rather than part of the problem.
Beyond this, employers should be thinking about how to build a sustainable workforce, including people from different backgrounds with diverse skills. They should also be willing to upskill employees and offer growth opportunities. This links directly to employee value proposition (EVP) which quite often falls short on development. Employers risk being left behind if they’re not implementing things now to engage their workforce.
Resilient in crisis
Industry 5.0 reinforces the importance of increased agility, stability and resilience, especially in crisis. Rather than focusing solely on profit and growth, businesses should consider how proactive they can be. From having a strong internal mobility framework to improving production and supply chain robustness, there will be a greater emphasis on being prepared.
All three pillars have significant implications for business strategy. So, if yours needs a refresh, now is the time to consider the transformative potential of Industry 5.0 and how you’ll need to adapt to keep your employees engaged.
If you need help with your change communications, EVP or reward strategy, let us know!