Nearly 80 percent of Australians are seeking to change jobs as cost-of-living pressures intensify.

Almost eight out of every ten Australians surveyed hope to change jobs in the next year to increase their salary and alleviate cost-of-living pressures. According to recruitment giant Hays’ latest salary guide, 77 percent of workers have either started looking for a new role or plan to do so in the next 12 months.

After years of high inflation and interest rates, it’s unsurprising that the cost of living is the top reason driving people to seek new employment. Other factors include a lack of promotional opportunities, poor workplace culture, bad management, and changes in personal circumstances.

While 86 percent of employers plan to offer pay raises in upcoming reviews, the report indicates these offers will likely fall short of workers’ expectations. “The mismatch between what employees want and what employers are willing to offer will play out over the next year, with almost 40 percent of employees dissatisfied with their salaries and 73 percent saying their pay doesn’t reflect their individual performance,” said Hays Asia-Pacific CEO Matthew Dickason.