Abstract: Talent, the intangible asset of an organization, is the source of competitive advantage, making talent management (TM) practices more prevalent across industries. The business environment of the global economy has entirely transformed since the call of the "war for talent," necessitating the need to re-examine TM practices and the concept of talent in the contemporary world. With the advent of Industry 4.0-related technologies, jobs and tasks are highly automated, diminishing the traditional job roles and creating a new wave of jobs requiring new skill sets and evolved competencies. To succeed in this complex scenario, organizations and individuals must get into the habit of reskilling and upskilling to stay relevant to the evolving nature of the future of work. In this paper, we explore how talent can be redefined for Industry 4.0 by systematically tracing the evolution of the talent concept over the two decades and identifying the evolving competencies required for Industry 4.0 using a state-of-the-art review method and inductive content analysis. We propose a dynamic matrix of Industry 4.0 competencies based on the global skills taxonomy that encompasses the competencies that talents need for Industry 4.0. This dynamic matrix can be constantly updated with evolving skills to keep up with changing times and contexts. This study has implications for guiding training institutions, organizations, and governments to identify the competencies individuals need to develop through reskilling and upskilling to be prepared for the future of work.
