Abstract
Human resource management plays an integral role in developing capital for the triple bottom line. In the Fourth Industrial Revolution, human resources now shift their focus to advancing communication and connectivity versus focusing purely on technological advances. As the Fourth Industrial Revolution continues, communicating the effectiveness of human resource management and human capital development should be considered as an essential area of interest. As healthcare practitioners continue to provide treatment and care for those in need, human resource managers need to learn green practices to create a more sustainable environment that contributes socially and economically while adhering to the demands of the international stakeholders. As healthcare continues to be either one of the most significant expenditures or needs for numerous countries, consideration in this field provides potential holistic benefits for stakeholders.
TopIntroduction
The Fourth Industrial Revolution (4IR) features the disruption of the current industrial environment due to the emergence of current and developing technologies. The disruption caused during this revolutionary period redefines work in a dynamic and sophisticated manner. Focus on interconnectivity, unpredictability, and rapid evolution of work processes and practices are inherent traits of the Fourth Revolution requiring numerous industries to recognize change agents and make rapid adjustments. Some of the benefits noted include operational efficiency, innovation, and effective deployment of assets and capital (Park, 2016). These changes not only provide value-added benefits to organizational development, but employees also benefitted from the change as well.
Organizations must contend with technological advances and competing for environmental, social, and financial demands. Known as the triple bottom line, these demands create a framework over the years to become a model for an organization’s mission and vision statement. No longer defined by monetary gain, businesses now focus on sustainable solutions that provide direct and indirect benefits to the organizational culture, and the global economy (Fields & Atiku, 2017).
Human resource management plays an integral role in developing social and intellectual capital for the triple bottom line. In the 4IR, human resources now shift their focus to advancing communication and connectivity versus focusing purely on technological advances (Schwab, 2016). Technology continues to remain relevant in the development of human capital (Atiku, 2018; 2020). However, recognizing ways to become more responsive in the global environment while maintaining a strong corporate social responsibility footprint are some of the key elements found within the 4IR.
Key Terms in this Chapter
Green Human Resource Management: Set of policies and practices designed to stimulate environmentally sensitive, resource efficient, and socially responsible workplace.
Knowledge Management: Process of creating, sharing, and using the knowledge and information by an organization.
Fourth Industrial Revolution: Infusion of technological and digital practices towards advancement of productivity and operational capacity.
Green Sustainability: Pursuit of knowledge and practices designed to improve environmentally, ecological, and social resources.