Approximately 39 per cent of Kiwi employees plan to look for a new role in the next six months, while 19 per cent are actively looking to make a move.
This is the topline finding of a survey of 1000 New Zealanders working across a range of sectors.
The survey, conducted by people-management platform Employment Hero, found that the single biggest contributing factor to the desire to move was a lack of a pay rise.
A total 37 per cent of the respondents attributed their desire to move directly to the fact that had not been given a recent bump in pay.
Thirty-three per cent of respondents attributed their itchy feet to a lack of career opportunities, while 30 per cent noted a lack of appreciation or recognition as their major motivation.
What's more is that women were 21 per cent more likely to select "no pay rise" as a reason for wanting to change jobs.
When asked what initiatives would encourage them to stay in their current role, 55 per cent of workers selected a salary increase, 27 per cent said the introduction of more rewards and recognition and 23 per cent chose a promotion.
Women were also more likely to pinpoint a salary increase as something that could convince them to stay, with 62 per cent selecting this option.
Alex Hattingh, chief people officer at Employment Hero, conceded that many businesses were facing financial pressures at the moment.
"Handing out pay rises is not always feasible for businesses against the backdrop of the pandemic, but if businesses can afford to give their workers a salary increase, now is the time for them to take action," Hattingh said.
"For example, businesses could reallocate a small amount of funds from elsewhere in the business to bolster their team's salaries. I'm sure a small salary increase would be employees' preference to a lavish Christmas party, and may even keep them motivated and feeling loyal."
Hattingh further pointed out that the cost of not taking action could become more expensive in the long run.
"The cost of turnover is high for businesses. It is better for them to shuffle funds now to stay in line with industry standards than to cop the costs later."
Interestingly, a quarter of workers were looking to change their career path entirely, saying they were looking to enter a different industry altogether.
Many were also open to other forms of change, with almost one in two New Zealand workers reporting that they would consider taking a job overseas once borders open. The big motivating factor was again the potential of earning more money elsewhere.
Employment Hero chief executive Ben Thompson said that some New Zealand businesses could be on the brink of a resignation rush.
"If businesses are looking to grow quickly following the pandemic they need to start getting prepared now as we have six months before the projected 'Great Resignation' ushers in the 'Great Recruitment Rush'," he said.
He warned that businesses need to be willing to offer flexible working opportunities if they want to hold on to staff.
"Companies who do not adjust to flexible working risk being left behind in a candidate-driven market," Thompson said.
"Of course, workers understand that not every industry can facilitate remote working, but if a business can find a way to share that they respect workers' personal lives and time - this will be an asset to them."
Numerous studies released over the course of the pandemic have shown a trend of workers experiencing burnout and feeling increasingly disconnected from their jobs.
These pressures combined with stagnant wages are emerging as major motivators for Kiwis to move on to new jobs.
And the pressure businesses face in holding on to staff will only increase as the borders slowly start to open and Kiwis again have access to opportunities abroad.