Only 16 percent of workers believed pay was more important than job security in the current labour market, the survey showed. Photo: 123rf
More than 60 percent of office workers surveyed said they would switch jobs for a higher salary, with a pay rise of at least 20 percent being the most common incentive.
The recruitment company Robert Half commissioned the online survey of 500 full-time New Zealand workers in finance, accounting, IT and technology.
It found many believed they are underpaid by 10 to 20 percent.
Sixty-one percent of workers would switch jobs for a higher salary.
Robert Half New Zealand director Ronil Singh told Morning Report at least a 20 percent increase was the most common pay rise that would compel workers to leave.
"What the survey shows is that's probably the percentage term that people would probably look for to jump ship, however that's not accurate for all.
"Also we've got to take into consideration are businesses actually giving 20 percent increases for the same job just because you're going to move roles? The short answer is no.
"Whilst 20 percent is the average increase that people make a move for, it's still a high ask for a lot of businesses - so it's not realistic to achieve this in this current economic climate."
The survey showed that only 16 percent of workers believed pay was more important than job security in the current labour market.
Singh said that showed that even though money was a powerful influence, many employees were weighing financial wishes against the need for job security.
Employees needed to understand that a 20 percent increase would also lead to a change in expectations and more responsibility, he said.
The research showed many workers felt their pay did not reflect their worth which could be due to stagnant wages despite increased responsibilities or a perception that their compensation lagged behind industry standards for similar roles, he said.
The recruitment company was getting a mix of opinions about how happy staff were in their current jobs, he said.
"There are some companies that have gone through a lot of change in the last 12 or 18 months and that's causing a little bit of uncertainty for their workforce and there are some that are actually very happy in their roles, so it's actually a mixed bag."
The survey showed that about 40 percent of respondents felt "quite valued in terms of their current roles", he said.
But the survey suggested that 60 percent of employees still felt undervalued and that an increased salary would better reflect what they brought to their role and the work required of them, he said.
"I think the cost of living pressure there's a perception of feeling undervalued, and there's also a focus on financial security for people as well that's causing them to feel that way."
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