The Financial Services Skills Compact is a landmark, shared agreement between government, the Financial Services Skills Commission, and firms in the sector, to work together to close skills gaps. Signatories pledge to invest in their own people, develop talent pipelines and collaborate to close the sector’s skills gaps. Through the Skills Compact, we will accelerate progress towards a sector that has the skills it needs to thrive into the future.

What are the commitments of the Skills Compact?

The Skills Compact reflects the sector’s importance as a powerhouse of growth and productivity, providing good jobs and prosperity across the country.

The commitments of the Skills Compact are targeted, meaningful and ambitious. Signatory firms commit to:
– Ensure all of our workforce is future-ready by upskilling them in AI and other critical skills over a rolling three-year period
– Maintain and/or grow structured routes into our organisation for new talent.
– Assign one member of our senior executive team as responsible for closing skills gaps.
– Publish annual updates on progress against these commitments

How was the Skills Compact developed?

The Skills Compact was announced by HM Treasury alongside its Financial Services Growth and Competitiveness Strategy, published in July 2025. Its development has been led by the Financial Services Skills Commission and supported by City of London Corporation and TheCityUK.

Advance Union is a proud supporter of this initiative.