Should Employers Hire for Experience or Potential?

Finding the right people is becoming harder for employers across the UK — and the pensions industry is no exception.

As the sector evolves, employers need specialist knowledge, technical expertise and the ability to navigate an increasingly complex environment.

But when experienced talent is difficult to find, should employers also be recruiting for potential?

The latest CIPD Resourcing and Talent Planning 2026 report highlights the challenge. 48% of employers have increased efforts to develop talent in-house, while 44% say talent has become harder to retain. Meanwhile, 53% of organisations that recruited in the last year experienced difficulties attracting candidates, particularly for senior and skilled roles.

The message is clear: finding the right skills isn’t always about finding someone who already ticks every box. Sometimes, it’s about identifying potential and developing it.

The pensions industry has its own specialist skills challenges.

The Pensions Regulator (TPR) recently highlighted capability and knowledge gaps as a barrier for pension schemes considering private market investment. It also stressed the importance of expertise, governance capability and specialist skills as schemes plan for the next five to ten years.

For employers, this reinforces an important point:

The skills needed by the pensions industry are evolving.

That makes recruiting for today only part of the solution.

Experience remains hugely valuable. Pensions is a specialist industry, and knowledge built through working with schemes, clients, trustees, regulation and members cannot be replaced overnight.

For many roles, employers need people who can make an immediate contribution, bringing:

• Technical knowledge
• Industry understanding
• Professional judgement
• Client and stakeholder experience
• Regulatory knowledge
• Experience of complex processes

But experience isn’t the whole picture.

Potential can be harder to spot on a CV.

It might look like someone who learns quickly, asks good questions, takes responsibility or approaches unfamiliar problems with confidence.

For pensions employers, valuable potential could include:

Curiosity — a willingness to learn and develop.

Adaptability — responding positively to changing processes, technology and requirements.

Problem-solving — looking beyond the obvious answer.

Communication — explaining complex information clearly and building relationships.

Digital confidence — embracing new technology and ways of working.

Learning mindset — actively developing knowledge rather than relying solely on existing expertise.

These qualities could become increasingly important as the pensions industry changes.

The CIPD’s findings suggest employers are already moving in this direction. 91% are already upskilling employees or considering it, while apprenticeships and graduate programmes remain important routes for developing future talent.

For pensions employers, this creates an opportunity to ask not only:

“Who already has the skills we need?”

but also:

“Who has the potential to develop the skills we’ll need?”

This isn’t about lowering standards. It’s about thinking differently about where talent can come from.

The focus on potential is good news for candidates too.

Transferable skills can be just as important as industry experience. Strong stakeholder management, communication, problem-solving, digital confidence and a willingness to learn can all demonstrate future potential.

Your CV and interview should show more than what you’ve done. They should demonstrate how you’ve developed, what you’ve learned and what you could contribute next.

Recruiting for potential means looking beyond rigid job descriptions.

Employers should ask:

• Which skills are genuinely essential?
• Could transferable experience be valuable?
• Are interviews assessing potential as well as technical knowledge?
• Is there a clear development path for new hires?

If employers want to recruit people with potential, they also need to create an environment where that potential can grow.

Experience and potential aren’t opposites

Perhaps the answer isn’t experience or potential.

It’s experience and potential.

The strongest recruitment strategies understand when specialist experience is essential, while remaining open to candidates with the ability and ambition to develop.

For the pensions industry, that balance could become increasingly important as technology, regulation, investment strategies and member expectations continue to evolve.

At Sammons Pensions Recruitment, we understand the specialist skills and experience pensions employers are looking for — as well as the importance of identifying potential.

Whether you’re recruiting pensions talent or considering your next career move, our specialist consultants can provide practical support, including recruitment expertise, career guidance, CV advice and interview preparation.

The pensions industry needs experienced professionals.

But it also needs the next generation of talent.

The challenge isn’t simply finding people who can do the job today.

It’s finding people who can grow with the industry tomorrow.

And sometimes, the most valuable candidate isn’t the one who ticks every box.

It’s the one with the potential to grow into the role.