Nearly nine out of ten financial services executives are concerned about losing top performers to other job opportunities in the next 12 months, a survey suggests.

Research from leading recruitment firm Robert Half Financial Services found more than two thirds (67%) said they would adopt a policy of providing better career development opportunities to encourage valued employees to stay.

Just over half (54%) said they would provide current employees a raise in remuneration or bonuses.

Additional retention efforts look set to include 28% offering employees flexible working.

But only 27% said they would make counter-offers to valuable staff looking to move to another employer.

Luke Davis, vice president of Robert Half Financial Services, said: “Over the last couple of years the finance services sector has seen substantial change, including more regulation and reporting requirements and the need to restructure to demonstrate transparency and accountability.

“On top of that, we are witnessing the introduction of a significant number of challenger brands and FinTech start-ups that are providing alternative employment opportunities for talented professionals. There are plenty of factors in place that may lead to individuals considering a move.

“As we head into the New Year, professionals are considering their options and are prioritising career advancement as part of their 2016 goals. While salary and benefits may be declining factors when employees are considering a move, finding the positions that offers the right combination of career development, competitive pay and benefits will be a priority.

“While companies may be tempted to provide counter-offers in a bid to retain staff, this is generally a short-term solution and the employee ends up leaving in the long run. Regularly benchmarking remuneration coupled with establishing career paths and advancement opportunities will help companies keep their most valued assets on board.”