A survey of almost 4,000 people, conducted internationally by talent management firm Lumesse, revealed that more than 80% feel their skills are not being fully utilised by their employer.
Nearly half of 18 to 25 year old workers said they were already planning a career change, while around half of the most experienced staff surveyed also expect to start a new job within the next five years.
The study also showed that 49% of employees consider their performance appraisal to be of little or no value.
Matthew Parker, chief executive officer at Lumesse, said it was "a pity" that so many people feel their only choice is to switch employer, particularly as the survey found workers were generally satisfied with most aspects of their job.
"If employers can combine that happiness with better career management then the benefits are obvious - better retention, better performance, and higher productivity," he added.
Meanwhile, research from the Hay Group has shown that graduate recruits are currently more concerned with pay and benefits than with job satisfaction.
By ILM, City & Guilds of London Institute