More than 340,000 workers expected to quit job this year: recruitment study

More than half of companies say staff turnover has risen in the last three years. Photo/Peter Dazeley.

Employers fear more than one in 10 workers will quit their job for another one this year amid rising levels of staff turnover.

Research by recruitment firm Robert Half has found bosses expect 13 per cent or around 340,000 workers move to on to another job in 2018.

That comes as 58 per cent of employers said they had seen an increase in staff turnover in the last three years and 51 per cent expect it to increase even further over the next year.

Megan Alexander, general manager of Robert Half New Zealand, said higher levels of staff turnover could cause problems for companies and more focus needed to be put on retaining people.

"High levels of employee turnover can cause any company headaches in the form of not just lost productivity and revenue, but also increased stress levels and low morale for remaining staff.

"Because of this, it's essential for companies to simultaneously make employee retention initiatives a top business priority and also secure a steady pipeline of skilled talent."

The research found training and professional development programmes were the most popular form of staff retention with around 54 per cent companies surveyed using those.

Employee wellness programs were the second most popular at 48 per cent followed by appreciation initiatives at 43 per cent.

But only 37 per cent offered flexible or remote working opportunities and 40 per cent had regular salary reviews.

Alexander said employee retention initiatives were most successful when they included a mix of wellbeing and recognition programmes as well as regular salary reviews and clear career pathways.

"Implementing these initiatives is highly beneficial for companies, as staff who are happy in their role enjoy higher levels of engagement, they tend to be more productive and are more likely to stay with the organisation," she said.

The survey questioned 300 hiring managers in New Zealand.