Over the past few weeks, I joined senior leaders from across the UK Finance membership to discuss one of the most pressing issues facing our industry: attracting, developing, and retaining talent. These conversations focused not on technical skills or P&L statements, but on culture, trust, and the evolving expectations of today’s workforce. The message was clear – traditional approaches to hiring and retention no longer meet the needs of a fast-changing environment. Firms that cling to outdated practices risk falling behind.
The commercial finance sector, like many others, is navigating a delicate balance. On one side, there’s nostalgia for an era defined by structured training programmes, predictable career paths, and steady growth. On the other, a modern reality shaped by technology, leaner operations, and shifting employee priorities. Success lies in embracing flexibility, fostering initiative, and committing to continuous, targeted development.
Flexibility and Trust: Non-Negotiables for Today’s Workforce
One of the most spirited debates centred on hybrid working. While many leaders value the collaboration that happens in the office, concerns remain about productivity when teams work remotely. Yet dismissing flexible work as “time off” risks misunderstanding the modern employment deal. Employees increasingly expect a relationship built on mutual trust – bringing their skills and time in exchange for flexibility and fair remuneration to manage life’s demands. This is not a generational trend; it spans experienced professionals, returning parents, and those with external responsibilities. Firms that fail to offer genuine flexibility and purpose will lose the talent battle.
When asked about the most critical skill for the future, leaders were unanimous – and surprisingly non-technical
Culture starts at the top. If leaders want employees to value time in the office, they must lead by example – being visible, engaged, and present. You cannot demand presence while remaining remote yourself.
Rethinking Retention and Development
Many firms express frustration when employees leave after three to five years, particularly graduates who have benefited from robust training programmes. But the reality is clear: long-term loyalty is no longer guaranteed. Instead of mourning this shift, firms should focus on maximising the value of an employee’s tenure and view training as a strategic investment – even if talent eventually moves on. Without development opportunities, attrition is inevitable.
When asked about the most critical skill for the future, leaders were unanimous – and surprisingly non-technical: initiative. In leaner organisations, where HR and L&D resources are stretched, the ability to take ownership and carve out a career path is invaluable. Yet firms face a challenge: operational pressures and regulatory scrutiny often make it harder to take a chance on unproven talent. This limits diversity and narrows the talent pool. If we want a vibrant, inclusive industry, we must be willing to invest in potential – not just pedigree.
Modernising Learning for a Modern Workforce
Training models must reflect today’s realities: tighter budgets and the need for fast, flexible learning. Long-form qualifications with lengthy exams often become outdated before completion. The future lies in short, stackable certifications that deliver immediate, measurable value. Employees want recognition – credentials that build toward respected certifications over time. Alongside technical knowledge, soft skills such as critical thinking, emotional intelligence, and strategic communication remain essential for leadership roles.
Formal training is only part of the solution. Firms should also leverage networking and social learning opportunities and address the apprenticeship challenge – building a pipeline of new talent requires scale and commitment.
Where UK Finance Fits In
UK Finance represents over 300 firms and serves as a trusted partner in learning and development. Our training programmes are designed to meet the real challenges facing financial services professionals today, covering more than 10 policy areas including Capital Markets, Commercial Finance, Prudential Risk, and Economic Crime. We deliver learning in four flexible formats: in-person, online, in-house, and on-demand.
To support continuous professional growth, we’ve launched The Knowledge Hub, a digital platform offering on-demand access to practical, high-quality content. Initial courses include our CPD-accredited Invoice Finance and Asset-Based Lending Foundation, alongside introductory programmes in Financial Services, Capital Markets, and Economic Crime. Whether you’re onboarding new joiners or staying ahead of regulatory change, we’re building the tools to help.
Let’s Build a Sector That Learns and Leads Together
The financial services workforce will continue to evolve, and learning must evolve with it. At UK Finance, we’re committed to equipping firms with the insight and resources needed to thrive in this new landscape.
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I’d welcome the opportunity for my team to meet with you and discuss how we can support your organisation’s learning journey.
