WEBINAR

The Great Boomer Handoff

How to Preserve Expertise and Embrace Change in the Coming Retirement Surge

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May 23, 2024
11:00am EST
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As baby boomers reach "peak 65," organizations face an unprecedented wave of retirements. This shift presents challenges and opportunities, with critical roles at risk and variations in retirement patterns across regions, industries, and skillsets.

In this webinar, TalentNeuron’s Erica Lee will show how HR professionals can use data to anticipate talent needs, identify skill gaps, and future-proof their workforce. We'll explore strategies to retain intellectual property from retirees and leverage the evolving gig economy to maintain knowledge among semi-retirees.

Retirees and younger generations alike value flexibility, lifestyle, and entrepreneurship. This market dynamic offers organizations a chance to adapt their workforce strategies by adopting skills-first hiring and flexible EVPs. We'll explore how these trends are reshaping work and discuss strategies to build a resilient, multigenerational workforce amidst retirement waves.

Items to cover:

  • Industries and roles most impacted by the retirement wave.
  • Global strategies and varying retirement norms across markets.
  • Data-driven workforce planning to mitigate risks and seize opportunities.

Webinar Transcript

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[0:01:27] John Lynch: Hi there. Good morning, good afternoon, everybody, it's great to be here. My name is John Lynch. I lead communications and content here at TalentNeuron. I wanted to start today's webinar with a question. You don't have to share your answer anywhere, just think about it. Hold it in your head there for a moment. The question is: when do you want to retire? 55, 65, 85, 105?

Here's a follow-up question: What will happen to your hard-earned knowledge and skills when you're done? I know everybody probably spends a chunk of time thinking about the first question. Still, businesses are starting to think a lot more about the second question because they're facing a massive demographic shift in the workforce.

Today, we're discussing how organizations can preserve expertise and embrace change in the face of an aging workforce, essentially, how to retain the valuable knowledge and skills of mature workers while also adapting to the evolving needs of a multigenerational workplace.

So, before we dive deeper, I'm going to quickly go over your webinar experience. Today's session will run for up to 45 minutes. Time will be set aside at the end for Q&A. Also, once we end the session, attendees will receive a short feedback survey. We would really like your input on that. It will take 2 minutes of your time and would be greatly appreciated by us.

In the meantime, this is your event room. What are you seeing on your screen right now? So I'll just help you orient yourself here a little bit. In the right column, you have a couple of features. There's the Q&A section, so you can drop questions in there anytime. And like I said, we'll address them when we get to the end, or we'll address them before that.

You can also download the presentation slides and any other media shared during the presentation from the media section. This is where you'll find some of the graphics that we're presenting today. You can also expand your screen down here if you want to see any of those things in more detail.

So, as we're presenting, if you're finding it hard to see what's on the screen or on the slides, there's a little icon in the bottom right-hand corner. If at any time you would like to learn more about how TalentNeuron can help support your needs, you can hit the request demo button at the top of your screen.  

Alright, it's my privilege to introduce our speakers for today from our strategic consulting team: Erica Lee and Miguel Marin from our advisory team. So, coming to life here now. Thank you. Nice to see you guys. Erica, would you like to kick us off?


[0:04:07] Erica Lee: Absolutely. Thanks, John. Good morning, good afternoon, or good evening, wherever you are. I'm Erica Lee, and as John mentioned, I am a part of our consulting team. I'm based in North Florida and am a senior consultant. In my current role, I partner with clients to empower their strategies through expert perspectives, data, and insights. We have capabilities and customized solutions to each business's needs, thinking around transformations, strategic workforce planning, talent engagement, development, EVP, talent attraction, and so much more. We work to provide thought leadership and partnership, data analysis, frameworks, and action plans to help our clients meet their goals. It's my pleasure to be here and introduce you to my colleague, Miguel.

[0:04:53] Miguel Marin: Hi, Erica. Hi, John. Hello to our audience today. My pleasure being here today as well. My name is Megan Marine. I'm a principal advisor with the turnaround team based in Quebec City, Canada, and I am of Spanish origin. I've been working with the organization for 7 years now. I've had the opportunity to assist our clients in navigating the complexities of talent intelligence and market dynamics. As an advisory team member, we collaborate closely with our customers. We work with them on their day-to-day talent needs, and we really work to understand their unique needs and challenges. Whether utilizing our self-service platform or scoping, project managing, and delivering custom consulting reports, we aim to provide valuable insights that will empower organizations to make informed decisions in areas such as talent acquisition, workforce planning, and competitive benchmarking.

[0:06:00] John Lynch: Fantastic. Thank you both for being here. I'm looking forward to kicking off and spending a bit of time talking about our topic today. But really, where else could we start with a bit of proper dinner?

[0:06:20] Erica Lee: Indeed. Robert De Niro, indeed. Over Mother's Day weekend here in the States, I found myself doing what I do with my family of all boys and my husband, which was making them spend the weekend watching rom-coms. I got engrossed in The Intern, featuring Robert De Niro and Anne Hathaway, during that selection. It's a movie I love, and seeing it pop up was an opportunity to share it with my family. It had no spaceships, shooting, fighting, or superheroes, which was a unique and interesting perspective for them. But the movie caught my attention because it really aligned with what's happening today in our workforce.

The plot revolves around an e-commerce fashion startup on the brink of significant expansion, and they initiate a program to hire senior interns. Initially, the concept was pure entertainment, but in reflection, the reality of the premise came so close to what we've been talking about and what we've started to see in the media.

We're witnessing a surge in retirements, leading to a massive shift in knowledge and experience in the workforce. People are settling into what could be a new way of working and looking to reinvent themselves as they reenter the labor market. Through this movie, we see these senior interns find a bit of freedom and agility in a dynamic new way of working. They're learning about experiences they never had. Simultaneously, we have early talent operating in innovative and new ways with entrepreneurial mindsets, creating a fantastic dynamic and opportunity in the market.

It brought me to this intersection of professionalism, innovation, and experience in the newcomers market, and I thought it was worth exploring. I reached out to John, and we talked about life imitating art and The Intern. So, if you haven't seen it, it's worth the watch.

[0:08:20] John Lynch: Thank you. I think the story is interesting. I think the fact that a Hollywood movie is made out of something means it's evidently out there in the zeitgeist. There's an interest in the older workforce right now because the workforce is aging in markets like the US and across the Eurozone. The median age of workers is rising. It has been rising for 20 years. In the US, it's around 42; in the Eurozone, about 45.

For today's purposes, it's what we're calling a retirement surge because many experienced workers are nearing retirement age or starting to think about retirement. Organizations are starting to feel that impact. There's a realization that you need to engage with this pool of talent and start coming up with strategies to keep them in your workforce.

But it's not just about mitigating risks, which is interesting from our perspective. There's an opportunity. These workers bring expertise and institutional knowledge. And many organizations we've seen are starting to take a more proactive approach by creating an aging-inclusive workplace, offering more flexible conditions, and really positioning themselves well to navigate the change that is coming.

In a sense, we've already been here. We've already been through one kind of retirement surge. The great retirement boom during COVID-19 was a wake-up call for many organizations. It exposed the vulnerability of organizations with an older workforce. Without proper planning and support, many companies faced skills gaps and knowledge loss as their experienced cohort decided to retire early.

But it also sparked important initiatives. Companies started thinking about how they could retain talent and engage them. In the EU, older workers have become even more important in the labor market. Companies are starting to recognize their value and invest in ways to keep them engaged.

The U.S. scenario is slightly different. There's still a surplus of retirees, but there's growing awareness. More organizations are implementing phased retirement programs, flexible work arrangements, and tailored benefits for older workers, too.

So, while there was disruption during this period, it also accelerated a shift toward a different type of workplace. I'll be talking about how that looks for different companies in a little while.

Where we are now, the mature workforce — and we're talking really mature — the over-65s are more important than ever. It's the fastest-growing part of the labor market. In the EU and the U.S., 19% of over-65s were employed, up from 11% in 1987. In the EU, 6.5% of over-65s were employed, which is a significant increase from just 10 years ago.

This trend raises many important questions. Why are more people working past the traditional retirement age of 65? Is it by choice or necessity? What are the implications for the economy?

[0:11:52] Miguel Marin: Yeah. Thanks for that question, John. It's a combination of choice and necessity. Those factors contribute to the fact that over-65s are staying in the workforce, and there are many of them. One of them is increased life expectancy. People now live longer and healthier lives, thanks to medical advancements enabling them to work beyond the traditional retirement age.

People are also having fewer children, especially in developed and some developing countries. We're looking at an inverted pyramid age structure, which refers to the population pyramid shape where the proportion of older individuals is larger than that of younger individuals.

There is actually even an expected decrease in population by 2050 in certain countries, especially certain European countries such as Spain, Italy, and Germany, and some Eastern Asian markets such as South Korea and Japan.

We're also talking about financial necessity. Many older adults may not have sufficient retirement savings to support their desired lifestyle, which may require them to continue working to make ends meet. For example, in Germany, many retirees work a number of hours each week to support their pension income.

We're also examining changes in retirement benefits and legislation. In some countries, reforms to social security systems and pension plans have raised the retirement age or reduced certain benefits, which again encourages people to work longer.

There's also legislation related to anti-discrimination laws. Legislation that prohibits age discrimination in employment has helped protect older workers' rights and opportunities.

I still have a couple of factors, John. One of them is flexible work arrangements, and we will talk about this a little today. The rise of part-time, freelance, and remote work has made it easier for older adults to continue working on their terms.

Also, for economic changes, we will be talking about a particular industry where we can see this. The shift from manufacturing to service-based economies has created more jobs that are less physically demanding, making it easier for older adults to remain employed.

So, ideally, this should be good news for hiring organizations. Is this the case, Erica? Is this good news for hiring organizations?

[0:14:54] Erica Lee: I think so, Miguel. I mean, I think in both the EU and the US, higher labor market participation from all age groups is great. It supports continued economic contribution. Our mature working population's ongoing participation in the workforce boosts productivity, innovation, and economic growth while reducing strain on services.

It's paramount to support knowledge sharing and addressing labor shortages. Our experienced working population has valuable information and experiences to share with those new to the market, new to a role, and early in talent skills they can give to their younger colleagues, who could then innovate upon them and continue to advance the culture and business.

It helps address labor shortages and promotes age diversity in the workplace, which is a key part of the DEIB [diversity, equality, inclusion, and belonging] space.

However, as more of our mature and skilled workforce remains in place, HR and workforce planning professionals must account for that multigenerational workforce. They have to think about the diverse needs and the dimensions of skills and expectations that are quickly shifting.

It requires rethinking traditional approaches to talent management, employee benefits, and workplace policies to ensure inclusivity and responsiveness to all age groups and needs.

AARP (American Association of Retired Persons) confirmed this in an article I recently read about multigenerational teams. So again, it is very relevant and something that the HR and people intelligence community is actively thinking about.

[0:16:38] John Lynch: Awesome. I think there's a really interesting point to be made here about industries, specifically those seeing the greatest pinch. If you look at workforce data in the EU and the US, some industries are particularly pressured and exposed by this demographic change.

Healthcare in the EU, legal services, and trade in the US especially. But the consistent message here is definitely manufacturing. That's the big trend that we've seen and is most interesting.

So, from your perspective, Erica, how do HR organizations prepare for this change?

[0:17:29] Erica Lee: Yeah. Absolutely. I mentioned a little bit about it, John, but to your point, HR and business leaders must navigate several challenges related to this shift, particularly in industries with higher proportions of mature workers, or those looking at the long lens of their strategy and recognizing how their internal population is going to shift.

Especially those with physically demanding roles, such as touch talent roles, that require manual physical labor.

Succession planning and knowledge transfer will be extremely important. As we reach populations at retirement age, organizations need to start developing robust succession plans to ensure smooth transitions of responsibility and minimize the loss of institutional knowledge.

That starts with identifying key roles critical roles that are important today and those that will be important in the future. And those two things may, in fact, be very different.

We need to start thinking about potential successors who are ready now, who are ready with development, and what type of training and development opportunities we need to facilitate that knowledge transfer between experienced, skilled workers in the professional and touch talent space.

We must also ensure that our younger counterparts, who are early in their careers, think about their future and see a career ladder, lattice, or zigzag in this space.

It's also about workforce continuity. Take manufacturing, for example, where the work can be physically taxing. Some of our mature employees may face challenges performing their duties as they age, and their bodies don't always cooperate in the way they want.

I don't know about you, but my body sometimes doesn't cooperate, even when I get out of a chair. A little stiff.

HR and business leaders must find ways to accommodate these workers while continuing to attract and train a robust talent pipeline to ensure workforce continuity.

Again, we're considering a workforce that could be aging out or shifting how they prioritize work. Having a 10-year plan to prepare for those populations and focusing on data ensures that you're doing this with objectivity in mind.

[0:19:52] John Lynch: Awesome. I think this is probably a good time to hear from our audience.

We've spoken about the potential challenges and risks for a while, and I'd like to see how people prepare themselves.

I'll stop sharing my screen now and pop up a quick poll. I'd like to hear from everyone about what you are doing to address this issue.

[0:20:39] Miguel Marin: It's, for the moment, a very even split, Ryan.

[0:20:41] John Lynch: I couldn't say I'm surprised.

[0:20:43] Miguel Marin: Yeah.

[0:20:47] John Lynch: Honestly, I don't know about you, but this is, I think, a surprisingly even split. This is good news for us.

[0:20:57] Erica Lee: It is a surprisingly even split. I agree. But I think it's also very telling. Not everyone voted in the poll, and the fact that those thinking about it will likely start thinking about it even more is promising. That's the key here: for us to guide that consideration, Tom.


[0:21:21] John Lynch:

Absolutely. Alright. Well, I think give us a little time to run. So this is pretty telling, but I think it's a good time to stop looking at that and get back to our presentation here because I really want to understand how Erica can help connect the dots and how organizations are preparing for this next stage. So how does this impact people's strategy?

[0:21:46] Erica Lee:

Absolutely. It impacts your people's strategy in a multitude of ways. Today, you'll hear us talk a lot about the EVP and the employee value proposition. It's an important element, not the only element of consideration on this topic that we want to look at. People professionals across all disciplines recognize that the shift has implications for skills gaps and strategic workforce plans, early talent pipelines, rotational programs and intern considerations, and competitive intelligence.

As I mentioned, we're focusing again on the employee value proposition (EVP). It's a unique value. It's what you offer as an employer to your employees in return for their skills, experience, and commitments to the company. It includes components like salary and benefits, rewards, work-life balance, career development and values, mission, social purpose as an organization, and organizational culture.

The tool tells the story of what differentiates you in the market. It aims to identify and communicate all those unique benefits and experiences in a way that makes people want to lean in and say, "I want to be a part of that organization." And identifying those unique offerings tells the employee if they're in the right place to thrive.

Your EVP is also internal. It communicates to employees what they can or will receive in return for their commitments. As HR and talent intelligence and acquisition professionals, we often have to remind associates what we offer. I can tell you many times I said, "Did you know we have this benefit?" And the response is, "I didn't know we did that." That comes down to EVP ensuring we provide that message early and often, starting in the candidate phase but then through our internal talent pipeline to help retain talent.

Meanwhile, there's this employer brand. It's your external reputation. It refers to how the outside world sees you, and it can be used in concert or similarly referred to as EVP. But if you're investing in your EVP, you're bringing those tangible retention opportunities to the business. It's the voice to address this multigenerational challenge with a multidimensional approach. It's necessary to meet employees and candidates where they are. Miguel, I mean, it's important.


[0:23:59] Miguel Marin:

It's important to recognize the convergence of four different generations in the labor market today. With this slide, we wanted to highlight some differences between these generations. Their EVP requests may vary significantly.

Depending on where you are in the world, we're referring to both generations on the left of the screen. Millennials and Gen Z have different values, career expectations, and life stages compared to the Baby Boomers on the right.

We can talk about some typical EVP characteristics that each generation might prioritize. When we're talking about Millennials, they prioritize career growth and development opportunities, robust training programs and mentorship, and work-life balance, including flexible scheduling and remote work options. This is an area that overlaps generations. They also have a strong focus on mental health support and value a company's commitment to social responsibility and sustainability.

On the Baby Boomers' side, stability and financial security might be a higher priority. They value traditional benefits such as comprehensive health care coverage, family support, generous retirement plans, and recognition for their experience and expertise. They also value opportunities for continued learning and professional development, company loyalty, and a sense of belonging within the organization.

On our next slide, we'll examine two examples of organizations catering to these two different groups. These were identified through our self-service platform. We'll examine two top organizations: Google and Pfizer. Please move to the next slide. Thank you, John.

We can see here examples of these two companies targeting these groups very distinctly in their job postings. Google targets younger candidates, and Pfizer targets older generations, Baby Boomers, etc.

For the more mature and experienced candidates, Pfizer (in blue in these graphs; all this information is taken from our self-service platform) includes comprehensive EVP information in its job postings, especially when targeting aging candidates. It highlights elements such as work-life balance initiatives and competitive benefit packages, which appeal to employees seeking stability and long-term growth.

Google, on the other hand, in orange or salmon in these graphs, highlights perks in their job listings such as on-site amenities, flexible work arrangements, and opportunities for personal and professional growth. Their recruitment strategies often target recent graduates and early career professionals looking to grow and innovate.

In this example, we have eight categories in this chart across four different employee branding elements. One is workplace and model, and we're looking at flexible location and workplace attractiveness. Flexible location is key for Pfizer, appearing in 96% of their job postings, while workplace attractiveness is more important for Google.

In total rewards, we see family support as key for Pfizer. Innovation, under culture and values, includes terms like creativity, groundbreaking, and game-changing, which Google more frequently highlights.

These are just examples. The new EVP module in Tandem's self-service platform contains this type of information. Our clients can access this data to understand how different organizations are highlighting different elements in their job descriptions.

[0:29:17] John Lynch:

Thank you. I wanted to touch on a couple of really great questions because, funny enough, they relate to something we were talking about the other day. As an elder Millennial / Gen X cusp, what is the date range for Gen X, number one? They're often taking care of children as well as aging parents.

Another question: What are some Gen X priorities since many of them will replace Boomers? As someone on that elder Millennial / Gen X cusp myself, this seems to reflect that kind of age group well, especially on the Pfizer side, the priorities of someone taking care of kids and family. Would you agree?

[0:30:04] Erica Lee:

I completely agree, John. I think we're seeing that reflected in Pfizer's strategy. They recognize their internal population needs attention and flexibility in unique ways. Many are now higher earners, and they want ways to manage their salary differently to focus on family time—being in that sandwich generation.

I'm quickly approaching that stage myself. And frankly, that means my flexibility needs to be different. Our platform can support that thinking through data understanding competitive intelligence, what peers are doing, how they go to market in terms of their EVP, and how they're shifting to meet the needs of this age group in the workforce.

Those are great questions.

[0:31:02] John Lynch:

Great questions. Yeah. We have another good example that touches on something similar.


[0:31:09] Erica Lee: Yeah. You're absolutely right. And I mentioned a little earlier in our conversation that the manufacturing industry recognizes the value of creating this opportunity for training and development within that new population serving the workforce. Despite operating in a market that demands a broad range of skills, they're making significant strides. And the success of these efforts is evident in this example.

This data was also extracted from our self-service platform, and it utilizes layers on top of it, which we could curate on our consulting team side to really get to the "so what" and "now what" of this data. We're using three companies as examples of how you adapt your EVP to diverse workforces differently.

You can see that Toyota has implemented "senior team member" programs to retain more mature workers. This program allows experienced employees to transition into more of a gig economy, I'll call it, so part-time roles while still mentoring their younger colleagues. It emphasizes skill transfer and knowledge sharing, which are our favorite words, and we have a massive skills taxonomy that really helps you see the critical skills that need to be transferred. That's one of the things I love about our self-service platform and our curated consulting services.

Then you look at Siemens, which offers flexible work arrangements, including used hours, remote work options, accommodations for its older working populations, and training and development opportunities for continuous skill enhancement. Maybe you've always been in one role, and now you want to leave a touch-talent role and move into a more knowledge-based role. How they support that is incredible.

Finally, BMW focuses on creating an age-inclusive workplace, actively recruiting a more mature or skilled workforce. They highlight ergonomic adjustments to support well-being and offer phased retirement options to retain their experienced staff. They also let them free themselves for tee times, pickleball, and tennis, which I'd love to do, but I don't get to very often because I'm on children's schedules right now.

As we visualize through the bar charts, each company has a very different approach, and that approach is based on the specific context of their workforce demographics, their business construct, and the relative community they serve and sit in. These are highlights of the importance of adapting EVP to meet the needs of a diverse workforce. As the workforce and population change, manufacturing organizations are increasingly focusing on these strategies.

Some of the questions in the chat directly align with this. They're investing in development, recognizing, as Miguel mentioned, that people are living longer, and adopting that mindset of continuous skill growth throughout a person's working life. A commissioner for jobs and social rights at the European Commission recently emphasized the importance of investing in skills across different phases of a person's life.

They're also redesigning roles, retaining experienced workers, rethinking the tasks assigned, and considering task allocation based on expertise and stability rather than assuming everything has to be full-time.

Then, formal policy changes manufacturing firms are incentivizing both mature audiences and early talent by implementing policies that ensure inclusivity and culture, and provide flexible work options.

Remember, your EVP should always evolve to honor your employees as people, thinking of them as having exceptional life experiences beyond work and adapting to these changes. This is just one example from three manufacturing organizations facing this challenge head-on. We have many examples, but we extracted some from our platform.

[0:34:50] John Lynch: Awesome. Thank you, Erica. Just as a note, within the doc section on the right-hand side of your screen, you can find this graphic and the previous graphics to explore some of that data and see the breakdown for those EVP elements for these companies.

There's a great question here about helping older workers transition to less physical roles. Before we get to the questions, I want to quickly ask one more poll if that's not too greedy. I appreciate everybody's final input, and then we can do that here.

Let me just stop sharing my screen and pull up another poll. Out of everything you've heard today, I'd love to hear what you feel makes a difference. How can we keep this knowledge in the workforce? How can a multigenerational workforce thrive? If you could take a moment to choose all that apply, it would help us.


[0:36:13] Miguel Marin: I think that actually speaks partly to the answer to one of our questions just a moment ago, John. I can't remember the exact question, but I don't know if you agree with Erica's flexible work arrangements.

[0:36:32] Erica Lee: I do. Miguel, the key here is that all of these responses are rolled up into your employee value proposition and total compensation and benefits package.

I'm looking at a question about how these conversations come up in the chat. Well, number one, it's about internal listening. You should analyze your internal workforce to understand age bands and particular populations and identify both short-term optimization and long-term strategic implications by role, function, and critical skills.

Driving these conversations is really about telling your EVP story early and often to both candidates and internal talent. Use benefit usage data to understand what's influencing your population, and make these decisions not in a bubble but backed by objective data.


[0:37:30] John Lynch: Awesome. Fantastic. I'll stop sharing my screen briefly and return to our presentation. Erica, can you give us a quick overview of how TalentNeuron helps organizations with questions like these?

[0:37:49] Erica Lee: Absolutely, John. We've only shown a fraction of the rich, robust datasets we use to inform our clients. But there's a significant and distinct qualitative layer that must be considered. TalentNeuron is a data company. We have robust data beyond imagination.

But we also have an amazing team of data researchers and strategic consultants part of our team who help you build the "so what" and "now what" narrative around the data. We have data scientists, leading minds in AI and machine learning, and a research team that drives modeling and diagnosis tailored to your needs.

Our partnership is about meeting you where you are and helping you see around corners with objective data. Everyone's life is changing. It's better to lead with data and come to the table early and often.

We shared a number of successful strategies organizations apply, but we also want to elevate the thought leadership side. Considerations like stereotypes and bias: how do we overcome age-related bias from early talent and mature populations? How do we ensure assumptions don't drive decisions and that we adapt based on ability and willingness to learn?

We also need to balance generational differences and address skills gaps through knowledge-sharing or innovative training and development.

Focusing on health and well-being is essential, especially across a multidimensional workforce. Retirement transitions are also a challenge. How do we help someone who's only ever worked full-time move into phased retirement while still leveraging their invaluable knowledge?

We can take the data further. You've seen a 30-to 60-second soundbite of what we can do. We can go deeper and serve our clients by becoming talent advisors, helping them navigate evolving skills and apply practical thought leadership. That's what TalentNeuron is all about.


[0:41:19] John Lynch: Amazing. Thank you so much, Erica. We have some time left to get to questions. I wanted to highlight a few comments Matthew Davis noted the ongoing discussion in the U.S. about raising the retirement age and Social Security benefits. Some people feel they must continue working, which ties into your earlier point.

Marie mentioned the evolving meaning of respect and the importance of civility. These are important considerations in shaping culture and EVP.

Now, one or two quick questions: Steve asks, "Can we help older workers continue in their current roles with fewer physical demands without HR appearing ageist to others?" The key is helping them continue in their roles, not shifting them elsewhere. Any thoughts on that, Erica?


[0:42:27] Erica Lee: Yeah. Again, I'd love to lean in Miguel as well as your thoughts because a lot of this we can see on the platform, in terms of our module of what organizations are doing that are shifting that touch talent. But I think it really leans back into skills. Some skills are growing and evolving, and that talent, while they may not be interested in that physical touch talent piece of the role, there's knowledge based on project management and how you work towards mentorship. And again, that returnship element or the phased retirement that allows that talent to take what they know and implement in partnership with, let's say, learning and development programs for training and teaching or going out to attract the new early talent by going to have conversations and developing relationships with technical schools, etcetera, to help people see the reality and the path of success you can have in this role in the touch talent space that no longer would actually require them to do the touch talent work. Miguel, what are your thoughts on that?

[0:43:23] Miguel Marin: Yeah. No. I wanted to mention that it is actually a modular platform that we're helping the learning and development team with, so the skills module on the platform can help you do all of these. I just wanted to also answer one of the questions I can see in the Q&A asking about the EVP module and whether it allows slicing down by country or region. I have to say, my sample from earlier today was from the US, but we can slice it down by market on the EVP module on the platform. So, I just wanted to make sure that I mentioned it there. You can select the organizations that you choose. We have the example of five of them on the call today.

[0:44:08] Erica Lee: And would it be fair to say, Miguel, we can also curate a specifically designed project for you based on your location anywhere in the world to really start understanding that global perspective? Is that a fair statement as well, you think?

[0:44:22] Miguel Marin: It is a fair statement indeed, and we didn't touch on that today, but we also have these custom-curated reports that we can do on EVP, portraying the EVP of your competitors. There will be information in the deck, and we can also create this sentiment analysis EVP report to understand the sentiment of employees towards your organization and your potential competitors. I know we're almost up with time zones.

[0:44:47] John Lynch: Amazing. Yeah. Well, we've had some incredible questions, and I wish we could spend more time getting through all of them, but we will follow up on each of these questions. Anything we didn't get to today, especially if you're interested in seeing the EVP module or anything else in action, please hit the "Request a Demo" button, and we'll be happy to carry on the conversation.

Thank you to our audience for being here. It's been especially great to have you both here, and Miguel and Erica, thank you for your time. As a reminder, you have a survey after the event. I would love it if you could spend a moment helping that out. In the meantime, we look forward to seeing you next time, and thank you again for your time. Alright. Bye-bye.

[0:45:25] Erica Lee: Thank you. Bye. Thanks all.