More than three in five Australians will look to find a new job this year, with continuing cost-of-living pressures driving dissatisfaction in the workforce, according to a new report.

The Employee Census report by employee benefits platform Perkbox includes a survey of more than 1,000 Australian workers, conducted in partnership with research company YouGov.

It found that the number of workers looking to leave their jobs has increased significantly from last year, with employees feeling undervalued and stressed by the impact of rising costs-of-living.

Just over 60 per cent of workers surveyed said they would be seeking new employment this year, up from 48 per cent last year.

“As we head into 2025, it’s clear that many Australians feel undervalued and unsupported in their current roles,” Perkbox CEO Doug Butler said.

“Our latest report shows a big shift, with more people looking for new jobs due to workplace frustration.”

The report found that while Australian companies are taking steps to improve employee retention and staff satisfaction, they are neglecting efforts to help with cost-of-living issues and driving people out in search of higher wages and other perks.

While more than 70 per cent of Australian workers surveyed said their employer had prioritised employee retention last year, nearly 40 per cent said that no action had been taken to assist with the cost-of-living.

With their workplace not acting, a third of surveyed workers said they had taken on additional shifts or an extra job to deal with financial pressures in the last 12 months.

Cash is king

Just one in 10 workers who said their employer did something about cost-of-living pressures said this involved the introduction of shopping discount schemes or subsidised private health insurance.

If Australian businesses want to retain these staff, the best bet seems to be increased salaries.

According to the survey, 60 per cent of people said that a salary review or higher remuneration would encourage them to stay in their current role.

This was followed by rewarding and recognising staff, which overtook flexible hours in terms of importance to retention.

These findings are backed up by a separate report by tech recruiter Robert Half examining what Australians are looking for from their jobs this year.

A higher salary was found to be the biggest demand, with more than 60 per cent of respondents listing this, followed by flexible work hours, with 43 per cent of workers hoping for this.

Nearly a third of all tech workers surveyed want a pay rise above all else this year, while 29 per cent said they would actively look for a new job if they didn’t get one.

“In the current economic climate, characterised by high inflation and cost-of-living pressures, it’s not a surprise that employees are prioritising financial security and comprehensive benefits packages,” said Robert Half director Nicole Gorton.

“Cash has always been king, and it is especially so since flexible work hours, remote working options and professional development have become more commonplace as pay alternatives in the modern workplace.”

The Perkbox survey also found that a higher number of men than women said their employer had made an effort to retain them.

Just under 30 per cent of the men surveyed said they had received a pay rise in the last year, compared with less than a quarter of women, with a similar gap when it comes to bonuses and incentives.

The perils of the job hunt

While the majority of Australian workers are looking to leave their job this year, they might find it difficult to find a new role.

A study last year found that nearly 40 per cent of job hunters were struggling to find a new job, with the number of job vacancies being posted on the decline.

The number of people applying for tech roles has more than doubled in the last two years too, while the number of roles being advertised in the sector has declined to below pre-COVID levels.