Development opportunities rated higher than increased salaries in financial services.

career path

Rewarding career paths with development opportunities are more valued than increased salaries or bonuses in the financial services industry, according to new research from recruitment specialist Robert Half Financial Services.

The majority (89%) of financial services executives are concerned about losing their top employees to other job opportunities over the coming twelve months.

While around half (54%) plan to retain staff through a raise in pay or bonuses, over two thirds (68%) will address the potential turnover by providing better career development opportunities to encourage valued employees to stay.

Interestingly, nearly a third (28%) of employers in financial services are also considering using flexible working as a retention tool.

Luke Davis, vice president, Robert Half Financial Services said: “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.

“Regularly benchmarking remuneration coupled with establishing career paths and advancement opportunities will help companies keep their most valued assets on board.”