Industry 5.0 and the new competency challenges
For the last ten years, Industry 4.0 has been available to address the industry’s shortcomings. Therefore, Industry 4.0 has met some challenges and limitations. Consequently, we have entered the era of Society 5.0 and Industry 5.0. Smart factories and robots are driving up business productivity and growth, focusing on sustainability and resilience. This paper analyzes Industry 5.0 and its implementation challenges based on the competence profile of employees. The content and effects of entering Industry 5.0 to align with the competency profile of employees in the Era 5.0 were systematized. Industry 5.0 is transforming paradigms and bringing about resolution, as it shifts the focus away from technology and instead emphasizes the potential for progress through fruitful collaboration between humans and machines. In a business context, the advancements in technology necessitate the implementation of Industry 5.0 to secure competitive advantages and foster economic growth and development. Firstly, we discuss the definition and features of Industry 5.0 from the competency point of view. Secondly, we present two of the most recent and significant competencies—the entrepreneurial and green competencies. The question of their significance and necessity in the context of Industry 5.0 for industrial development on one hand, and for career development on the other hand, is discussed. On this basis, some conclusions and recommendations aimed at business and academia are made. It can also serve as a basis for further research in the field of skill development and workforce transformation in the face of the deep transformation framed by the green and digital economy.