Employees in Singapore are the unhappiest in Asia, despite the country being home to the highest proportion of millionaire households in the world.
A study by global HR consultancy firm Randstad has found that more than sixty per cent of employees are planning to leave their present job within the next 12 months.
Steve Shephard, an employment market analyst with Randstad, told Radio Australia's Asia Pacific program Singapore employees are looking for "work-life balance".
"They are feeling they are working much harder and not necessarily getting the recognition or the opportunity as a result of that," he said.
The relatively low unemployment rate is a key reason that is encouraging employees to change jobs.
Mr Shepard says high staff turnovers could have an impact on companies and their bottom line.
"We do know that high staff turnover is a key factor in productivity drivers within business," he said.
"Any organisation that is experiencing high turnover is likely to have a flow-on effect to productivity as experienced staff leave those businesses."
Singaporean employee Nasirah Banu, who works in Singapore's biomedical sector, says a large percentage of workers in Singapore "complain that the pay is not right and they do work long hours".
She says employers should implement work-life balance measures to retain staff.
"Employers should try to relate a bit of this work-life balance to their employees," she said.
"Whenever they have finished a major assignment, maybe you can give them one or two weekdays off."
Mr Shepard cautions it is not a one-size-fits-all solution when it comes to work-life balance measures.
"For some people, work-life balance could mean working less overtime," he said.
"For others, it could be about having more flexible work arrangements so they can drop the kids off at school or study part time or a range of things."
The report also found that Australia and India have the happiest employees in the region.
About one-third of the people surveyed plan to leave their jobs in Australia in the next six years and sixty-four per cent expressed satisfaction with their current roles.
"In Australia, the number one reason why people would stay is good work-life balance," Mr Shepard said.
"Number two reason is flexible work options... so we've seen Australian employers really focus quite heavily over the last 10 years about how they deliver a more flexible work environment for their employees.
"I think we're starting to see that now manifest itself in employee satisfaction."
Mr Shephard says employers in Singapore should make the change now or risk losing talent.