Most workers in Ireland don't believe that their overall pay and rewards package meets their needs with women significantly more likely to feel dissatisfied at work and to be considering a move.
Research from the professional services firm Aon found that 63pc of the Irish workforce are disengaged from their job.
Older workers - aged 54 and over - report the highest levels of engagement, while those in mid-career have the lowest levels of engagement.
The study, which was based on a survey of 550 employees, suggests that one in three employees is likely to search for a new job within the coming 12 months.
With unemployment levels very low and the numbers at work at a record high, employers are under increasingly intense pressure to retain staff. But the indications from Aon's survey are that many are struggling.
Only 34pc of employees believe their total rewards package meets their needs - when pay, pension, training and career development are taken in the round.
Employees who say they are satisfied with their total rewards package are twice as engaged with their work as those who are not.
The 'Employee Mindset Study', carried out by Coyne Research, found that Ireland lags significantly behind the European average of 60pc on the issue of employee engagement.
Asked what they are looking for in an employer, almost 50pc of workers said they consider above average benefits and a fun place to work as critical to retaining staff.
However, only 28pc feel these qualities set their own current employer apart from their competitors.
Ian Thornton, managing director of Aon in Ireland, said an inability to retain staff emerges as one of the top risks for executives globally.
"Ensuring that people feel valued and rewarded for the work that they do as well as meeting their needs is now a critical approach to cultivating an engaged workforce which is ultimately essential to a company's success," he said.