HR departments have been warned they must pull out all the stops if their companies are to keep hold of their top talent.
A new study led by the Chartered Institute of Personnel & Development (CIPD) showed many workers across all sectors are getting itchy feet in their current role. The number of people said to be looking for a new job has reached its highest point since spring 2011.
Around 24 per cent of private sector employees are actively seeking alternative employment, while 23 per cent of public sector workers are also looking to move elsewhere.
The recent improvement in the economy appears to have given people fresh impetus to move up the career ladder, as concerns over job security seem to have subsided.
Research advisor at the CIPD Claire McCartney said: "Talent is on the move again. This should also signal a warning to employers to up their game when it comes to retaining key talent – if they aren't monitoring their employees' progression and providing opportunities to talk about career development, they may well risk losing some of their most talented workers."
Ms McCartney stressed how important it is for workers to feel valued, as 62 per cent of those who are looking for a new job said they are unhappy in their current position.
Around 45 per cent of jobseekers also believe they are put under too much pressure at the moment, while one in four people revealed they have never had a performance review.
Job hunters appear to have a little more bargaining power than in previous years and companies that fail to provide flexible working arrangements and other perks will find it much tougher to attract and retain the very best employees.
Last month, a study by the CIPD and Simplyhealth showed that more companies are starting to introduce remote working options for their staff.
Approximately 70 per cent of those that have taken this approach in recent months confirmed it has already had a positive impact on employee engagement and motivation.