The picture is cautious, and that matters for brokers planning their 2026 headcount. The wider labour market is best described as 'low hire, low fire', with weaker recruitment but only slight increases in redundancies, and vacancies have now dropped below pre-pandemic levels Low Pay Commission Report 2025, GOV.UK. Firms are holding on to the people they have, but they are slower to add new ones.
The vacancy data tells the same story. Early estimates for April to June 2026 suggest a decrease of 7,000 vacancies, down 0.9% on the previous quarter to 712,000, with vacancies falling in 10 of the 18 sectors ONS - Vacancies and jobs in the UK. There are now 2.5 unemployed people per vacancy, a ratio that has held steady since mid-2025 ONS - Vacancies and jobs in the UK. More people are competing for each role, yet the right skills remain scarce.
There is one encouraging signal underneath the caution. Permanent placements have finally stabilised, ending a decline that had run for 45 months since Liz Truss's premiership, while temporary billings rose for a fourth month in a row REC / KPMG Report on Jobs (S&P Global). For brokers, a steadier permanent market is a window to secure people before competitors move.
The demand sits at the qualified, experienced end of the market. In financial services, recruitment has generally been for Regulatory Qualification Framework (RQF) level 6 and above roles, rather than the RQF 3 to 5 bands GOV.UK - Temporary Shortage List: Stage 2 report. In plain terms, that means degree-level and professional-qualification roles: the regulated advisers, underwriters, compliance specialists and senior broking staff that firms cannot run without.
That concentration at the top is exactly why talent has climbed the priority list. When the scarce roles are the regulated, higher-qualified ones, a single unfilled seat can stall new business and client service. Brokers are not just filling vacancies; they are competing for a small pool of people who meet strict regulatory standards.
The competition point is worth stressing. With 2.5 unemployed people per vacancy across the market ONS - Vacancies and jobs in the UK, a flood of applications does not mean a flood of qualified ones. Volume rises while the fit stays rare, so the real task is sorting quickly for the people who actually match the brief.
Start by being specific. When the shortage sits at RQF level 6 and above GOV.UK - Temporary Shortage List: Stage 2 report, a vague job description wastes everyone's time. Name the exact qualifications, the regulatory permissions and the broking experience you need, so you filter for genuine fit from the first conversation rather than the fifth.
Then move faster than the market expects. A steadier permanent market REC / KPMG Report on Jobs (S&P Global) means good people have options again, so a slow process loses them. Shorten the gap between first contact and interview, keep feedback quick and clear, and treat every applicant like someone you want to work with.
This is where we help. We search a database of 15 million candidates and rank a shortlist in under 30 seconds, so you spend your time on the people who match rather than the inbox that does not. We contact matched candidates in under a minute and can book an interview in under three minutes, and those are system speeds that keep a cautious hiring plan moving.
Our recruitment agent manages recruitment end to end for 8% on a successful hire, with no monthly fee and no upfront cost. It is built around one thing: finding the right person for a regulated, higher-qualified role and getting them in the door. If talent tops your 2026 list, start a role with Reed.ai today and see your first shortlist.
