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A knowledge sharing platform for experienced 50+ professionals to advise the next generation

An application where young working professionals can get advice from experienced 50+ professionals within their respective industry

Photo of Kane Fernandes

Written by

Who is your idea designed for and how does it support the dreams and obligations of those 50 and older?

Aimed at knowledgeable and experienced 50+ working professionals as well as young professionals just beginning their working career. Our application wants to help one generation pass on passion, advice and opinion on to the next. We identified that there was a loss of skills and crafts as older generations retired, so we wanted to make this resource available to the new generation. However, we also want to reward the 50+ generation with motivation and financial support for their future too.

Why now?

    The rise of both the national living age and retirement age has seen the increase of more 50+ professionals working rather than opting for early retirement. This is partly due to an increase in the cost of living in the current economic environment. Therefore 50+ professionals are seeking ways to add to their main income with side investments and we believe that utilising their skills to aid this investment is the key to a successful happy investment.

                                                   "I cannot live off my pension!"

We carried out interviews with working professionals within the 50-65 age bracket and a common thread we found was that they would not be able to live off of their pension. So we wanted to aid them by providing a second income that adds to and builds up from their existing career.

What is the app?

    A platform where experienced 50+ working professionals can share their experience and knowledge which new professionals to their careers' industry.

The 50+ experienced professionals will be known as 'sharers' and the new professionals will be known as 'learners'.

  • The learners will go to the app when they need help with a project they are currently working on
  • Alternatively if they need a second viewpoint/opinion from someone that knows the industry well and has a wide reaching portfolio then they can also contact the sharers for this too.

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How does it work?    

  1. As shown in the screen shots above the app will require an account for both the sharers and learners to build up an online profile within the platform.
  2. The learners can search by profession and then look at a selection of sharers available to them on the platform - in order to select one sharer from the list the learners can look at the sharers' rating and past portfolio of work uploaded to the platform.
  3. The learner will then pick a sharer and ask them a question about their project - the sharer will then reply with a message and opt for a continuation of response they think will be best to help the learner out, e.g. a video call to discuss ideas .


How will the sharers get paid?  

The professionals will be paid a percentage of all the users subscription fee and can earn more through reward credits for tasks that they complete.

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    *credits will be calculated by the salary of the sharers' profession.

Payment will work so that the learners pay £4.99 per month to have this resource on a subscription model.

This will produce a self sustaining flow of money alongside sponsorships from companies interested in hiring hard working professionals and advertising directly to them.

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What happens after they have used the app?

Once the learner has been successfully advised by the sharer they will then have to leave a rating and a short review of their experience working with their sharer in order to help out future learners.

The app being based on a subscription service encourages the learners to use the resource whenever they need to. It would be suggested that the companies that have hired the new young professionals to provide this app as a tool when joining the business as it means they have an additional workforce to support their employees.

Money earned through the platform will be seen as a second income for the sharers and go towards achieving a happy retirement where they don't just have to live off a pension.

Please check all that apply:

  • I'm not currently involved in a credit union, but am curious to learn more!

This idea emerged from

  • A group brainstorm
  • A student collaboration
  • A Design Jam

10 comments

Join the conversation:

Comment
Spam
Photo of Denas
Team

Hey guys, really good work on the visuals. I like the light green, it brings a very user friendly feeling. Also the app is very simple and that's great because people 50+ would be using it so that's a plus.

Great, keep up the the good work.

Spam
Photo of Andrea Sánchez
Team

Thank you Denas!

We searched for that colour thinking of making a friendly feeling, so thanks for realising!

Spam
Photo of UMUT derin 123
Team

like the idea the app is well designed for the over 50+ look forward to seeing more

Spam
Photo of Hawa Koroma
Team

Thanks Umut

Spam
Photo of Andy
Team

Hi team, 
love the application idea considering the ever changing economic status, this app will benefit many young people. The app design and explaination were very coherent however the subscription fee may put some people off so maybe allowing advertisements on the app and using that as a form of payment for the services provided by experts can be another alternative. Nevertheless great app

Spam
Photo of Hawa Koroma
Team

Hello Andy
thanks for taking time to read out work

The subscription fee will depend on the funding, this is just a rough estimate

Spam
Photo of Betul Salman
Team

hey kane's team.
lovely app design and clearly explained!
as i understand the sharers get income from the subscription. are the sharer's specifically hired by the platform or anyone can post?
and how much is a credit? is it 1 pence or 10 pounds? will their income be pocket money or money they could use to live on?

Spam
Photo of Kane Fernandes
Team

Hi Betul Salman 

Thank you for your response and appreciation of my team's work;

Yes, the sharers would be processed through by the platform team to see that they have the suitable skills  and experience for giving quality advice to the learners; therefore maintaining a trusted source of information for all industries.

The credit values will be calculated by finding out the sharer's hourly pay and calculating the value of their time at work and applying this to the crediting system. Each credit will be timed or an average time will be calculated in order to work out how much the sharer will be paid. The idea of this being that the sharer can do this in their spare time and use this platform to build up savings alongside their current job before retirement. This money would therefore be saved during the 50-65 age bracket and provide for a happier retirement with lessened money worries.

Thanks once again for your comment,

Kane

Spam
Photo of Kate Rushton
Team

Hi Kane and team! Thank you for sharing your idea. There is a skill shortage in the oil and gas sector e.g. https://www.ft.com/content/cf831e0c-006f-11e4-a3f2-00144feab7de Could a company like BP give some of their younger employees credits to use the app / platform e.g. 20 credits for their first year of joining the company, 10 credits in their second year, 5 credits in their third year? Could an industry association, e.g. U.S. Oil and Gas Association, give some of its junior member's credits to use your app / online platform? What do you see as the role of credit unions in your idea? What do you need to do to take your idea to the next stage? Could you give me an example of when someone might use the app using this person as the 50 - 65-year-old advisor - https://challenges.openideo.com/challenge/financial-longevity/research/interview-with-a-63-year-old-ceo ?

Spam
Photo of Hawa Koroma
Team

Hello Kate,
Thanks for your comment
Our intent is not to create a credit union via the app, for a company to give their employees credit to use on the app, they will have to collaborate with the app, otherwise they will have to pay the standard subscription fee. It would be great for companies to refer their employers to the app as it will wider the career range and information.  Majority of time people aged 50 and over are excited to share their knowledge and experience to the younger generation. This app allows them to not only share their knowledge to a younger generation but also people their own age, whilst being paid. This has to be exciting.
For a young person who doesn't know anyone aged 50 and over or have grandparents to seek advise from, this will be a great platform to learn and plan for their future. I personally would like to know how retirement is like, not only financially but socially.