The manufacturing industry is facing a challenge to adapt to an ever changing business and operational environment. The fourth industrial revolution also brought a new set of challenges which requires a different approach to problem solving to remain in business. Hence, the study investigated the readiness of the case study company to operate in fourth industrial revolution. Also identified the set of competencies and career ladders to develop engineers in industry 4.0.  The scope of the study was limited to the engineering department within the case study company to assess the readiness, set of engineering competencies and career ladders for engineers in industry 4.0. The study used a survey questionnaire to collect primary data from a sample of 64 employees within the engineering departments. The study used relative important index (RII) to assess the readiness of the organization to operate in industrial 4.0. The exploratory factor analysis was used to identify the set of competencies required for engineers in industry 4.0. All the items were found to have the RII more than 60% with automated manufacturing scoring a high (RII =83%) and customer driven (RII = 80%). The leadership and entrepreneurship were identified as two groups of competencies brought by industry 4.0 in the engineering field.