HR AND THE FUTURE OF WORK IN INDUSTRY 4.0 - QuickHR Singapore

1. HR AND THE FUTURE OF WORK IN INDUSTRY 4.0 14th April 2021 PRESENTED BY:

2. INTRODUCING QUICKHR LEAVE &CLAIMS QuickHR offers cutting-edge cloud-based technology to both SMEs and MNCs in need of business process automation. Our end-to-end HR solution covers all aspects of human asset management, workforce management, and is fully compliant with local labor, taxation and data protection laws. PAYROLL &BENEFITS LEARNING &DEVELOPMENT EMPLOYEEDATABASE APPRAISALS&RECRUITMENT REPORTS &ANALYTICS ATTENDANCE &SCHEDULING

3. WHAT IS INDUSTRY 4.0?

4. WHAT IS INDUSTRY 4.0? What does Industry 4.0 look like?­­

5. WHAT IS INDUSTRY 4.0? What does Industry 4.0 look like?­­ Digital Twins – allows companies to “see” their entire shop floor in virtual space Autonomous Robots – self-sufficient machines that can manage their tasks without a human operator

6. WHAT IS INDUSTRY 4.0?

7. WHAT IS INDUSTRY 4.0? • Augmented Reality – extra visual input overlaid onto the actual world • Boost customer engagement and sales • Maintenance and training; reduce machinery downtime

8. CLOUD TECH IN INDUSTRY 4.0 What does Industry 4.0 look like?­­ • Server-based (on-premises) systems usually have higher implementation costs vs cloud-based systems > previously were more accessible to MNCs • Cloud-based systems are now more accessible to SMEs Cloud-based Systems – software and data stored on an offsite servers instead of on a local machine > reduce overhead costs for high-powered machinery

9. CLOUD TECH IN INDUSTRY 4.0 • 5G is a great enabler of cloud systems • Digitalisation of physical assets - can be digitised and uploaded to the cloud for instantaneous access • Leverage upon creativity and diverse skill-sets • Speed at which 5G facilitates allows for tasks to be completed in unprecedented speeds

10. CLOUD TECH IN INDUSTRY 4.0 Top 3 Reasons Firms Adopt a Cloud System Cloud Adoption Rates in Singapore McKinsey Research shows: The role of Industry 4.0 became even more critical in the backdrop of a crisis such as COVID-19. Players utilizing digital solutions are better-positioned to weather the storm, having moved faster and further than their peers during the crisis. Data from IndSights Research

11. WHAT IS INDUSTRY 4.0? Smart Industry Readiness Index (by EDB) Boston Consulting Group: The rapid adoption of I4.0 could boost Singapore’s labour productivity by as much as 30% by 2024. Adoption of Industry 4.0 in Singapore • To help SMEs navigate I4.0, the government pledged $3.2 billion from 2016 to 2020 to develop research and technological capabilities in the manufacturing and engineering domain

12. WHAT IS INDUSTRY 4.0? • Four Major Types Cyber Security Threats SMEs Face: • Brute Force Attacks • Trial & Error approach to guess password • Credential Stuffing • using stolen credentials to gain unauthorized access to a user’s account • Phishing & Spear Attacks • sending emails from a seeming-trusted source to gain personal information • spear phishing are targeted attacks where victims receive personalized messages or emails, composed through research • Malware Attacks • malicious software that is downloaded unto your system without you being aware of its presence The Importance of Cyber-Security

13. WHAT IS INDUSTRY 4.0? • Organizational Cyber Security & Vigilance • Invest and build technology or systems with high level of security • Maintain constant vigilance and update security features for online operations (easier for cloud) • Adopt systems that have been certified with reputable or recognized security standards. (eg. ISO or IMDA’s MTCS) • Educate employees and set policies for to prevent Cyber Security breaches The Importance of Cyber-Security

14. WHAT IS INDUSTRY 4.0? IMDA’s MTCS Certified Cloud SaaS • https://www.imda.gov.sg/regulations-and-licensing-listing/ict-standards-and-quality-of-service/IT-Standards-and-Frameworks/ComplianceAndCertification

15. WHAT IS INDUSTRY 4.0? • Educate all levels of your organization about the risks • Use complex passwords: a combination of numbers, special characters, and lower-upper case alphabets • Set a limit on the number of login attempts • For fighting against automated attacks using bots, enable captchas • Discontinue using email addresses as user IDs • Do not open emails sent from unknown sources • Before clicking on a link, hover the mouse over it to find where it will take you • Pay close attention to email headers, and you’ll be able to identify whether it’s genuine or not • Log-out of accounts when done with work Habits & Behaviors to Prevent Security Breaches

16. WHAT IS INDUSTRY 4.0? • Lower skilled jobs are likely to be replaced • 20 million manufacturing jobs replaced by robots in 2030 (Oxford Economics, 2019) • New jobs will also be created – esp. those involving data and data processing • Companies will have to either train, outsource or employ remote workers What does this mean for HR?­­

17. HR OF THE FUTURE INVEST IN LEARNING & DEVELOPMENT • Identify the skills and demand and develop a talent pipeline to meet them • Data Scientists and Architects • Interpret and translate data for operational teams • Real-time interpretation & accurate forecasting • Cyber Security Specialists • A study conducted by Microsoft commissioned Frost & Sullivan Company has discovered that firms operating in Singapore could have lost billions of dollars which is equal to 6% of GDP growth of the country. If figures are taken into account, the amount could mean a staggering $17.7 billion in USD in economic damage. -https://www.cybersecurity-insiders.com/firms-in-singapore-have-lost-6-of-gdp-growth-to-cyber-attacks/

18. HR OF THE FUTURE RECRUIT FOR LEADERSHIP AT ALL LEVELS • Don’t neglect the soft skills – recruit for leadership at all levels, across functions • The ‘war for talent’ continues • Proper succession planning is key to build a healthy leadership pipeline EDA’s Paragon7: 7 Key Skills for Leadership

19. HR OF THE FUTURE PIONEERING FOR CHANGE • How can HR enable changing business needs and deliver greater value?­­ • Pro-actively adopting new ways of working – start from the HR department • Structure policies and practices to be more agile & resilient to build a united workforce • Managing a global or remote workforce • 5G and Cloud-tech means greater interconnectedness • Adopt new technologies such as cloud-based systems, AI-based recruitment platforms

20. HR OF THE FUTURE SUPPORTING YOUR EMPLOYEES DURING COVID • Singapore is the 2nd most overworked city in the world, 92% of Singaporeans report they feel stressed at work • Deliver ongoing support for physical and mental well being • Promoting Mental Wellness • Having a formal Employee Assistance Program • Flexibility to work remotely • Provide opportunities for your employees to stay connected “Wellbeing is a true realization of Hyatt’s purpose – we care for people so they can be their best,” - Mark Vondrasek, Hyatt Hotels Corporation.

21. HR IS A WORK OF HEART We cannot control the changes in our world, but we can control how we prepare our team to stay ahead of these changes.

22. EMBRACE HR OF THE FUTURE TODAY THE ENABLE BUSINESS TEAM WEBSITE quickhr.co MAILINGADDRESS Paya Lebar Square, #07-38, Office Lobby 260 Paya Lebar Road, Singapore 409051 EMAILADDRESS sales@quickhr.cobusiness@quickhr.co OFFICE&BUSINESS-WHATSAPP (65) 6908 8158 (65) 8790 0895 FOLLOW US ON SOCIAL MEDIA