The philosophy of Industry 5.0 recognizes the transformative power of the industrial sector to add value to society and employees. Industry 5.0, distinct from its predecessors, relies on a tripod of sustainability, human-centric, and resilience. These three thematic principles aim to improve work safety, research and innovation, and strengthen industrial resilience and competitiveness. The potential for positive change is immense. However, a perfect storm is brewing for the future of work, brought about by the concerning trends of displacement and low skill levels of work-ers' competencies in handling the new technologies of Industry 5.0 in emerging economies. This paper will discuss Industry 5.0 and provide historical insights on the importance of acquiring the desired twenty-first-century competencies needed in the workforce for Industry 5.0. Two research questions guided the study in identifying these twenty-first-century competencies, how these com-petencies can be cultivated and taught in the education curriculum and policies of emerging economies, and the crucial im-portance of adapting Industry 5.0 to these emerging economies. The study concluded that emerging economies must play an active role in shaping the future, by creating policies that will advance social stability, resource preservation, and climate objec-tives, which will enable more productive production processes with lower waste and energy usage.