The Role of Human Values in the Relationship Between Industry 4.0 and Job Insecurity in an Emerging Economy

Abstract

This study analyses the relationship between Industry 4.0, human values and job insecurity in Colombia against significant technological changes and global economic challenges. It aims to understand how human values mediate the relationship between Industry 4.0's technological advances and the perception of job security in the current era of economic and social uncertainty. Utilising a Likert scale, the study gathered 714 survey responses from employees in medium and large Colombian companies. The study used a multistage multivariate analysis approach, starting with unidimensionality analysis, followed by reliability and validity analysis to measure accuracy. Exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) were subsequently employed to test the underlying factor structures of the data. Finally, structural equation modelling integrated the findings, forming a model that sheds light on the relationships among the studied variables. The analysis revealed strong human values such as commitment, collaboration, tolerance, honesty and loyalty in the workplace. Interestingly, participants had a low perception of job insecurity, indicating a more complex relationship between technological advancements and job security perceptions. This study offers valuable insights into how human values shape the workforce's response to the rapid changes of Industry 4.0, particularly in an emerging economy like Colombia. © 2024 The Author(s). International Social Science Journal published by John Wiley & Sons Ltd.