Nearly one-fourth of our workforce is represented by labor unions. We value the relationships we have with our union-represented employees and believe in a trusting, collaborative and respectful partnership with them. We are working with our labor partners to strengthen these relationships to ensure we have a culture that attracts and supports employees who can adapt to the rapid changes occurring in our company and industry. Our partnership with labor unions is critical to meeting the growing expectations of our customers. We also have multiyear contracts in place to enhance continuity for both the company and our workforce. Due to the unknown post-pandemic economic impacts on our company and organized labor unions, we agreed to extend our current contracts by one year.
Our relationship often goes beyond the confines of a contract. Together, we are expanding our focus on safety and culture while enhancing productivity. We are working with labor leaders to support infrastructure development across the nation while developing the talent pipeline and skills needed for the future. Our partnership with organized labor is instrumental with regulatory, legislative and rate-related issues. We share many common interests on the policy front and collaborate on issues important to each of us. Our labor-management relationship continues to strengthen as our workforce becomes more flexible, creative and engaged.
We continue to be a leader in the planning and organizing of the annual National Labor and Management Public Affairs Committee (LAMPAC) meeting. This collaborative effort of labor and management is designed to bring together energy company executives and leaders from the IBEW to advance the common objectives of the electric power industry and IBEW members.
Learn about how we are working with our labor unions affected by the retirement of coal-fueled generating units in our Climate Impact Analysis Report.