Australian and New Zealand employees are taking on bigger workloads and more responsibilities, but don't feel they are being adequately rewarded, a new study shows.
Nearly four in five employees say they have taken on more at work but over half say they haven't received any financial reward, Hudson consultancy says.
Salary & Employment Insights 2013, which surveyed more than 8000 people across Australia and NZ, finds current economic pressures are being passed down in the workplace, with only 15.6 per cent of employers always replacing roles if a team member leaves, and the majority distributing the work amongst remaining workers.
Four in every five employers say their teams now have to do more with less.
More than half of employees surveyed said they were looking for a new role, with nearly two-thirds of those expecting to move within six months.
Unsurprisingly, pay was a crucial factor, Hudson Asia Pacific chief executive Mark Steyn said. "What matters most to people right now is their pay packet, and for employers getting remuneration right is of paramount importance.
"Employers that don't ensure pay parity with competitors are at risk of losing both high performers and the best candidates," he said.
Pay is the biggest motivator for employees to stay on, with 43.4 per cent of job seekers saying they would remain in their current role with a pay rise.
And employers have been responding, with over 60 per cent intending to award increases of two to three per cent this year to retain high performers and ensure pay parity.
But it's not all about money: having an interesting role, a work culture that makes them happy and improving overall career opportunities are all crucial factors for employees, and top benefits offered by employers are flexible working hours, bonuses, and income protection insurance.
Yet almost seven out of ten employees report feeling the same or higher levels of optimism compared to a year ago and almost half feel more engaged at work.
"When it comes to helping businesses survive during an economic slowdown, it's people who are committed to the company's vision and who fit the culture that are most likely to thrive and help achieve business goals," said Mr Steyn.
Hudson specialises in recruitment and other staffing services.
The survey was conducted by questionnaires and interviews.