Wednesday Market Insights: The 2027 workforce challenge across the built environment
The Read
The challenge facing employers as we approach 2027 isn't necessarily a lack of talent. In some markets, it's a shortage of particular combinations of skills. In others, it's a mismatch between the experience businesses require and the professionals available at the level they're looking to recruit.
And in certain disciplines, the challenge extends beyond immediate recruitment to the opportunities professionals have to develop the expertise employers will eventually need.
These distinctions matter.
A business struggling to appoint an MRICS-qualified building surveyor isn't necessarily facing the same problem as a finance team looking for someone who combines technical accounting expertise with systems transformation experience.
Equally, a slower development market in London doesn't mean opportunities across town planning have disappeared. The location and nature of the work are changing the picture.
Across Cobalt's specialist desks, our consultants are seeing different pressures emerge as employers consider their requirements for the year ahead.
The common thread isn't that every sector faces the same skills shortage. It's that recruitment strategies need to reflect the realities of the specific markets they're operating in.
For employers, that means challenging some of the assumptions behind a hiring brief before taking it to market.
Are the qualifications essential? Does the experience need to come from a particular sector? Could relevant capabilities be developed internally? And does the salary, seniority and scope of the role align with the professionals available?
These aren't new questions. But the answers are becoming increasingly important as the capabilities businesses require continue to evolve.
Finance: The Combination of Skills Is Becoming the Challenge
In finance, technical accounting expertise remains fundamental. What is changing is the combination of capabilities employers increasingly expect professionals to bring.
Jaden Alie, Managing Consultant specialising in Finance, Technology and Business Transformation at Cobalt, is seeing growing demand for professionals who can operate across finance and business change.
In particular, systems optimisation is becoming a more prominent requirement.
Employers are looking for individuals who can assess existing reporting structures, improve processes, strengthen governance and controls, and help businesses make better use of their technology.
These are not necessarily traditional finance appointments.
They require someone who understands the financial function while also having the technical and operational experience to improve how it works.
The recruitment challenge is finding that combination of capabilities within one individual.
For employers, this creates an important distinction between the expertise required to deliver an immediate transformation project and the skills that could be developed within an existing finance team.
A business implementing a complex systems change may need an experienced specialist who has delivered comparable projects.
But an organisation seeking to improve reporting efficiency or strengthen internal processes may already have professionals with the financial understanding and business knowledge required to support that work.
The question is whether the missing capabilities require an external appointment or could be developed through targeted training, project exposure or additional technical support.
There is also a risk in making every desirable capability a mandatory requirement.
A brief demanding a specific finance qualification, sector background, systems platform and transformation track record may be justified. But employers should understand how each additional requirement affects the available talent pool.
The consideration for 2027: Identify which transformation capabilities are essential from day one, which can be developed, and whether the role genuinely requires one person to deliver every element.
That assessment should happen before the search begins, not after several weeks of unsuccessful recruitment.
Building Surveying: When Qualification Requirements Restrict the Search
In building surveying, the challenge is less about emerging technology and more about the availability of appropriately qualified professionals.
Ashleigh Pearce, Executive Consultant who specialises in Building Surveying recruitment at Cobalt, has highlighted the difficulty employers face when seeking MRICS-qualified surveyors.
Chartered status remains an important professional benchmark. For certain responsibilities, professional qualifications and demonstrated competence are essential.
But employers can unnecessarily restrict their search when MRICS is specified for roles where the responsibilities could be fulfilled by someone with a different level of accreditation and relevant experience.
This is particularly important when businesses are recruiting at salary levels that may not reflect the expectations of the chartered professionals they're targeting.
The issue isn't simply whether qualified candidates exist.
It's whether the combination of qualification, experience, responsibility and remuneration makes the opportunity competitive within the market.
Candidates with AssocRICS status, substantial practical experience or a credible route towards chartership may be suitable for certain positions, depending on the work involved.
That doesn't mean they are interchangeable with chartered professionals. It means the requirements should be tested against the actual responsibilities of the vacancy.
For employers, there are several considerations.
If MRICS is essential, does the package reflect the market for that qualification? If chartership is preferred rather than mandatory, could the business consider an experienced candidate working towards it? And where development is possible, does the organisation have the supervision and project exposure needed to support progression?
These decisions have implications beyond filling one vacancy.
A business that can support a capable surveyor through professional development may build a stronger long-term talent pipeline than one relying exclusively on recruiting fully qualified professionals externally.
The consideration for 2027: Review the relationship between professional requirements, salary expectations and available talent before finalising the brief.
The objective isn't to compromise on professional standards. It's to ensure that the hiring criteria are proportionate to the role and realistic for the market.
Town Planning: One Profession, Different Market Conditions
Town planning demonstrates why a single national narrative can be misleading.
Tom Turner, Principal Consultant specialising in Town Planning at Cobalt, describes a particularly challenging environment in London's development market.
Development viability pressures have affected activity, with consequences for recruitment across different levels of the profession.
For graduates and junior planners, this can mean fewer opportunities to enter the market and develop experience.
But the picture changes when looking beyond traditional London development activity.
Tom identifies infrastructure planning as an area worth examining, including work connected to data centres, energy, transport and other major projects.
Engineering consultancies and organisations working on infrastructure programmes can require planning expertise that differs from the experience traditionally associated with residential development.
Regional markets may also present different opportunities.
This has implications for both employers and professionals.
For employers, the relevant talent pool may not be defined solely by geography or the type of consultancy a candidate has previously worked for.
A planner with experience in infrastructure or another development environment may bring relevant capabilities, even if their background differs from the organisation's traditional hiring profile.
However, those capabilities still need to be assessed against the technical demands of the position.
For professionals, the distinction is equally important.
Tom emphasises that career progression depends on meaningful project experience, not simply the number of years someone has worked in planning.
Exposure to substantial applications, stakeholder engagement and complex project delivery can shape the capabilities a planner develops as they progress.
A professional with several years of experience may not necessarily have had the opportunity to work on the scale or type of projects an employer requires.
The consideration for 2027: Assess planning candidates against the nature and complexity of the work they've delivered, and understand how project activity differs by geography and sector.
For businesses recruiting planning talent, the question is not only where candidates are located, but where the relevant experience is being developed.
Before you take your 2027 hiring plans to market, challenge the brief.
Validate your requirements against talent availability. Distinguish essential expertise from skills that can be developed. Look beyond traditional talent pools where the responsibilities of the role allow it.
Because an effective recruitment strategy shouldn't be built around the candidate you hope exists. It should reflect the capabilities your business needs and the realities of the market you're recruiting from.
From the Desk: Celebrating Our People
We're pleased to celebrate two well-deserved promotions across Cobalt!
Immy Dodd has been promoted to Talent and People Manager, UK & US, while Sam Peers steps into the role of Managing Consultant.
Congratulations to both on their achievements and continued progression at Cobalt. We're looking forward to seeing what this next chapter brings!
For 25 years, Cobalt has worked with employers and professionals across the built environment. Our specialist consultants combine sector knowledge with market intelligence to help businesses make informed recruitment decisions.
Reviewing your hiring requirements for 2027? Speak to Cobalt's specialist teams about talent availability, salary expectations and the capabilities shaping your market.
Thank you to our contributors: Ashleigh Pearce - Executive Consultant, Construction; Jaden Alie - Managing Consultant, Accounting & Finance; and Tom Turner - Principal Consultant, Residential Development & Town Planning.
