Demographic shifts are accelerating retirements and creating talent gaps across sectors, and experts urge higher‑education employers to adopt phased‑retirement models to retain institutional knowledge. Phased retirement—gradual reduction in hours and responsibilities while preserving mentoring roles—can help universities manage succession, preserve research continuity and support teaching loads. Campus HR and academic leaders face two immediate pressures: replacing seasoned faculty and administrators amid a smaller pipeline of early‑career hires, and transferring tacit knowledge in research and community partnerships. Phased retirement can be paired with formal mentorship and structured knowledge‑transfer plans. Implementing phased models will require policy changes to benefits, workload accounting, and pension coordination—areas that campus finance and HR offices must collaborate to redesign.