The wider jobs market has turned cautious. The labour market is currently described as 'low hire, low fire', with weaker recruitment but only slight increases in redundancies, and vacancies have dropped below pre-pandemic levels Low Pay Commission Report 2025, GOV.UK. That means fewer people are moving, and the people who do move are harder to replace.
There are early signs of a floor forming. Permanent placements have finally stabilised, ending a decline in place for 45 months, while temporary billings increased for a fourth consecutive month REC / KPMG Report on Jobs (S&P Global). For brokers, this tells a clear story: when hiring is slow and expensive to get right, keeping the people you already have matters more than ever.
The appetite to move is real in skilled fields, too. Across UK technical professions, 79% of professionals plan to change employers in 2026 Engineering and Technology Jobs (IET) / Rise Technical. That restlessness is a warning sign for any firm leaning on pay alone to hold on to its best people.
The squeeze sits at the experienced, qualified end. In the financial services sector, recruitment was generally for Regulatory Qualification Framework (RQF) 6+ roles, rather than RQF 3-5 GOV.UK - Temporary Shortage List: Stage 2 report. RQF 6 sits at degree level, so these are senior, technically demanding broking and advisory roles, not entry-level ones.
That changes the retention maths. You cannot quickly buy in a qualified broker when the whole sector is chasing the same small pool. The people already inside your firm, part-qualified and progressing, are your most reliable source of future seniority. Lose them and you lose years of training and client relationships at once.
So the dynamic is simple. High demand for qualified people, a cautious market where few are moving, and a strong urge to jump when the right opportunity appears. Development is the lever that answers all three at once: it builds the seniority you can't easily hire, and it gives people a reason to stay.
Start with a clear path to qualification. Since recruitment is concentrated at RQF 6+ roles GOV.UK - Temporary Shortage List: Stage 2 report, map out how each person moves from where they are to the next regulated level, and fund the study, mentoring and time to get there. A named progression plan is a retention tool, not an HR formality.
Make development visible and regular. With 79% of technical professionals planning to change employers in 2026 Engineering and Technology Jobs (IET) / Rise Technical, people leave when they can't see a future with you. Quarterly growth conversations, real responsibility early, and a manager who coaches all do more to hold people than a single pay review.
When you do need to hire, move quickly and precisely. In a low-hire market Low Pay Commission Report 2025, GOV.UK, the qualified people worth having rarely stay available for long, so a slow, scattergun process loses them to a faster firm.
When development creates a genuine gap and you need to hire, we help you find the right person fast. We search a database of 15 million candidates to surface people who match your brief, so you spend your time with a shortlist that fits rather than sifting applications. Our recruitment agent manages recruitment end to end for 8% on a successful hire, with no monthly fee and no upfront cost, through Reed.ai. Tell us the role and we'll show you who's a match.
