This move is expected to help the company address the growing demand for skilled personnel and experienced workforce throughout the UK and Europe.
Founded in 2022, WisdomCircle has worked with over 800 organizations and onboarded over 70,000 verified retired professionals. The platform is built on the belief that retirement should not mean the end of meaningful engagement. It offers an opportunity for experienced individuals to continue contributing to society and help reduce the cognitive decline often associated with retirement. By leveraging an AI-powered matchmaking algorithm, the company ensures that organizations can quickly connect with the right talent for full-time positions, consulting, or project-based work.
Europe faces unique challenges as its population over 65 is projected to outnumber its younger population within a few years. This demographic shift, coupled with a growing labor shortage, particularly in skilled professions, underscores the urgent need to integrate older adults into the workforce. The age-friendly technology market is projected to reach $2.7 trillion by 2025.
To lead this expansion, WisdomCircle has added a leadership team for the UK and Europe region. Basav Ray Chaudhuri, the new CEO for the UK and Europe markets, has over 35 years of international experience in various leadership roles across general management, finance and strategy. Shilpi Bordoloi joins as a consultant with over 25 years of experience in senior leadership recruitment across the UK, Europe and Asia.
“This expansion is not just about geography; it is about building a global network of experienced talent who can contribute meaningfully to businesses and society. As the longevity economy continues to grow, it allows us to leverage technology to create inclusive workplaces and help older adults reinvent retirement,” said Neeraj Sagar, Founder and CEO of WisdomCircle.
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“As the population ages and the traditional workforce shrinks, there is increasing demand to harness the expertise of older workers. Research consistently points to an upward trend in the workforce participation of this demographic. The International Labour Organisation predicts that by 2030, older workers will rise to 55% of the workforce in most EU countries,” said Basav Ray Chaudhuri, CEO of WisdomCircle for the UK and Europe. This highlights not only the need to integrate older adults into the workforce, but also the economic benefits that come with it, he added.
As of August 2024, the company has over 70,000 verified retired professionals on the platform and aims to reach 100,000 professionals by 2024.
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