To sustain competitiveness in today's highly local and global markets, an organization needs to excel in all its key dimensions. The world is facing a new industrial era marked by digitalization in various multidimensional sectors; experts call it Industry 4.0. Humans are slowly but steadily being replaced by mechanical automation and technological digitalization in driving the economy. The potential benefits of Industry 4.0 are improving the speed of production flexibility, improving service to customers and increasing revenue. Challenges in human resources management include strengthening the management system and processes of an organization to improve performance and create value for stakeholders. Innovations and Challenges in Human Resource Management for HR4.0 helps to convey the importance of "HR4.0" in all aspects of business, not just product and process quality. It is about achieving excellence in everything that an organization does, and most importantly achieving superior business results. This book provides international insights to manage business performance improvements and companies' value creation dynamics. Readers will learn how to use multi-functional area tools, techniques, innovative frameworks, practices and approaches for understanding, assessing and managing the strategic value drivers of business excellence. This book provides a rich repertoire of tools and techniques across business functions researched, tested and validated in various business settings, and provides a new stream of thoughts by a few fine researchers in the domain of business management.