Nearly 88.9 percent workers in Taiwan are looking to jump ship to new companies after the Lunar New Year, says findings from a survey by the yes123 job bank. The local recruitment site released the results of the survey on turnover and hiring for what has traditionally been the most popular time for people in Taiwan to change jobs.

About 57 percent of respondents said they have already begun looking for a new position, with the 88.9 percent figure marking a seven-year high.

Of the 1,314 people surveyed, the top three reasons for wishing to change jobs were: dissatisfaction with current salary (52.1 percent), feeling that the current company had no development prospects (40.9 percent), and a lack of opportunities for promotion (32.4 percent).

Of those dissatisfied with their current salaries, on average those surveyed said that for 11.1 percent higher salary than their current remuneration, they would change to a new job. On the flip side, current employers would have to give employees an average raise of 14.4 percent to retain them, China Post reports.

70 percent of those surveyed said that they would be willing to enter into a new industry, with telecommunications (31.3 percent), hospitality (25.3 percent) and traditional manufacturing (21.9 percent) being the top three industries that drew their notice. Not only are people looking for jobs in different industries, they are also actively looking for jobs outside Taiwan.

See: 24.8% Office Workers in Taiwan Not Compensated for Working Extra Hours

About 80.3 percent of the respondents said they would consider working abroad, but the catch was they wanted the monthly salary to be, on average, 121.3 percent higher than their monthly salary in Taiwan. The top three employment locations were Japan (42.4 percent), the U.S. (40.1 percent), and Hong Kong and Macao (38.2 percent).

Employers’ Plans after the Lunar New Year

90.2 percent of the employers in Taiwan said they are looking to hire after the New Year. 57 percent are looking to fill vacancies, while 32.8 percent are looking to expand.

These figures rated similarly to figures from the previous two years, the job bank said, with the percentage of employers looking to hire new employees after the holidays at 86.8 percent for 2016 and at 90.5 percent for 2015.

Hospitality (96.3 percent), wholesale and retail (94.1 percent), and education (at 93.5 percent) were the industries with the highest demand for new employees. Of the remaining 9.8 percent of employers who will not be hiring, 3.4 percent said they would keep staff levels at about the same level, while 6.4 percent said they were set to downsize.

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