Picture this: Margaret, your company's payroll manager for 28 years, announces her retirement. She's the one who knows exactly why certain employees get that mysterious quarterly adjustment, how to navigate the labyrinthine state tax codes for your multi-location business, and which vendor relationships took years to cultivate. In three weeks, she'll be gone—and with her, nearly three decades of hard-earned expertise that no manual or system documentation could ever capture.
Margaret's story isn't unique. Across organisations worldwide, a seismic shift is reshaping the HR and payroll landscape as baby boomers retire at a rate of 10,000 a day, taking with them an irreplaceable treasury of institutional knowledge, relationship dynamics, and battle-tested problem-solving approaches that can't be easily transferred through a handover document.