The good news is that as the economy has improved and the unemployment rate has dipped, workers report greater satisfaction with their job searches. At the end of 2012 only 19 percent of those surveyed by Gallup said it had been a good year for landing a quality job, while 42 percent said the same about 2016.

But along with the increased satisfaction are increased expectations of job purpose and flexibility and a heightened willingness among workers to leave their current jobs. Fifty-one percent of workers say they are actively seeking new employment opportunities, a reality employers ignore at their own peril, Gallup argues.

The same exact percentage say they would leave their job for one that offered a more flexible schedule.

However, the report states, most companies have thus far failed to respond to the demands of the talent market. Their recruitment and retention strategies are sorely wanting.

Only 21 percent of employees say their performance is managed in a manner that motivates them to do better. Only a third are "engaged" according to Gallup's engagement criteria.

The Gallup study also finds while new perks are appreciated, employees are most likely to value traditional benefits that pay them more, "the most meaningful ones aren't rock climbing walls and unlimited beverages. The benefits and perks that employees truly care about are those that offer them greater flexibility, autonomy and the ability to lead a better life."

The vast majority of employers surveyed offer paid vacation (92 percent), health insurance (91 percent) and paid sick leave (86 percent). It is not uncommon, however, for an employer to not help pay for a retirement plan; only 68 percent provide a pension or matching contributions to a 401(k) and only 40 percent of employers with fewer than 25 employees do.