If it's true that three out of every four American workers are now looking for new jobs, employers face a mountain of a problem.

The findings that 35 percent of workers are actively seeking new employment and 40 percent more are passively looking to change employers come from a recent survey of human resources workers by the Society for Human Resources Management and CareerJournal.com.

"We think it has something to do with the improving economy," comments SHRM spokeswoman Jennifer Jorgensen. "As the economy continues to improve, we expect to see more of those passively looking workers become more active in their job search."

With that many people in the job market and estimates that the nation will have a severe shortage of skilled workers within the next five years, companies face a difficult time maintaining their current operations as well as expanding them. Even those companies that are successful in recruiting qualified workers will see their labor costs grow.

"Just because somebody wants out of their job doesn't mean they will find new jobs," argues Chris Woolard, a consultant with Walker Information's Loyalty Institute. "I certainly wouldn't expect 75 percent of workers to change jobs next year."

Yet, Woolard admits there is no denying that workers today are more willing than ever to switch jobs.

Most Want Better Pay

The SHRM/CareerJournal survey found that receiving higher compensation was a motivating factor for 43 percent of jobseekers, while 32 percent wanted better career opportunities, and 22 percent are dissatisfied with opportunities in their current jobs.

Walker Information's own survey of workers last year found 31 percent felt trapped in their jobs and an additional 34 percent were unhappy in their work.

"It's clear to us there is a lot of discontent," Woolard declares. He thinks workers feel alienated by companies' aggressive layoffs and cost-cutting of recent years.

"Those are the kind of things that really shape an employee's relationship with their employer. I don't think a lot of employers really understand the importance of their employees."

Woolard theorizes that many workers have looked at the sluggish economy of recent years and sat tight, happy to have their jobs. But as the economy has gained steam, more job opportunities have opened up and workers are getting more confident they can find better jobs.

But what does it mean when 75 percent of workers aren't happy in their current jobs?

Impending Crisis

"It's a sorry state," according to Roger Herman, a North Carolina employee retention consultant and author of Impending Crisis: Too Many Jobs, Too Few People.

"For several years, we have been telling companies that they are in danger of losing their workers if they don't treat them right, and now it's coming true," Herman relates. "Most companies just don't get it. They don't seem to understand what workers mean to them."

The US Bureau of Labor Statistics says it expects a labor shortage of five to ten million workers by 2010. The federal agency estimates that five million more jobs will be created by that time than workers entering the labor force and that the labor shortage could be exacerbated if large numbers of baby boomers retire before they are 65.

Herman says this will present new recruitment and retention pressures for all companies.

"The winners will be the companies that realize they have to treat their workers right," he predicts. "The losers will be those who don't." Right now, Herman estimates there are many more losers out there than winners.

Blinded by the Bottom Line

"If you talk to most senior executives, you find their interest is in looking at the bottom-line numbers," Herman asserts. "They don't care about the employees, and that's part of the problem. We have a lot of good managers out there, but we need more leaders who see what is happening and make their companies more friendly to workers."

Herman figures that the executives of most companies are in denial that a problem exists. "But it's obvious to the employees," he emphasizes. "They understand their discontent and why they are looking for work."