That’s according to a new survey by Glassdoor which estimates vacancies caused by the departure of disgruntled staff could cost the UK a up to £360billion. 

Expectations of a salary increase have held steady for a year now, with 35% of employees confident of getting a bump in pay. As for how UK employees feel about how their company’s business will perform in the next six months, most employees appear to be cautiously optimistic.

More than half of employees (55%) believe their company’s business outlook will stay the same, down four percentage points since last quarter. One in three (34%) employees (including those self-employed) believe their company’s business outlook will improve in the next six months, which is up from 32% last quarter. Only one in ten (11%) believe it will get worse.

Almost half of employees (48%) who are confident of a pay rise are expecting an increase of two per cent or less. However, this is four times the UK’s current rate of inflation at 0.5%.

“With around half of employees not expecting a pay rise and a third saying they’ll be looking for new jobs if they don’t get one, it seems like many employees are prepared to move on,” said Jon Ingham, Glassdoor career and workplace expert.

“If these 12million workers are on the lookout for better opportunities, expect this to spark a flurry of job moves, which is good for recruiters, but bad for employers’ bottom line.”