The impact of the Fourth Industrial Revolution on human resources (HR) management was among the key topics discussed during a high-level business roundtable hosted by international award-winning executive recruitment company Monroe Consulting Group Vietnam in Ho Chi Minh City this month.
Better known as Industry 4.0, the Fourth Industrial Revolution centres around the increasing trend of automation and data exchange in manufacturing technologies in general. The term broadly encompasses cognitive computing, cloud computing, the Internet of Things and cyber-physical systems, all of which require employing less physical manpower.
Andrew Hairs, Managing Director of the Asia-Pacific wide Monroe Consulting Group, said technological advancements would have an increasingly significant impact on human resources management in essentially every industry in the coming years.
“From the advent of ‘smart factories’ that will require fewer workers to rapid advances in information technology-based systems that make small- to medium-sized businesses function more effectively and improve profitability,” Andrew said after the event at the Novotel Saigon Centre.
He said Monroe itself was a great example of a company harnessing technological advancements to improve efficiency and further refine the recruitment process at all levels of the Company.
“Monroe Group selected Vincere, a Vietnam-based recruitment software designer, to build the Monroe Hub, which is utilised region-wide for everything from the overall recruitment process and monitoring staff performance KPIs to training and development of our expert recruitment consultants.”
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Titled Industry 4.0 – The Age of Technology Approach for Human Resources, the event featured presentations by Nicola Connolly, the former Chairwoman of the European Chamber of Commerce in Vietnam, and Ngan Huynh, Managing Director of Monroe Consulting Group Vietnam.
In attendance were more than 20 human resources executives from many of the leading national and multinational companies operating in Vietnam, including Standard Chartered Bank, Autogrill, AdAsia Holding, Hella, Cerubo, Motul, Bayer, Total, Under Armour, Ila Vietnam, Pizza 4P’s, TMF, Saigon Signature, Baker&MacKenzie, Wall Street English and PNJ.
Ngan, who spoke about Monroe Vietnam’s international award-winning recruitment methodologies and the wider recruitment industry in Vietnam, said the round-table discussions hosted by Monroe were becoming increasingly popular.
“Industry 4.0 – The Age of Technology Approach for Human Resources was our third and most popular event,” she said. “The recruitment industry is growing in Vietnam as more and more companies recognise the importance of being able to hire the very best candidates for important executive or highly technical jobs within their respective organisations.”