Recruitment group Hudson commissioned Sweeney Research to survey 605 employers and 1690 employees across Australia and New Zealand.
The survey found 84 per cent of employers surveyed in both countries believed they had made too many redundancies during the global financial crisis and many now lacked people power.
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Hudson chief executive Mark Steyn warned that the talent exodus predicted last year had gained momentum.
"Almost two-thirds of employers and employees alike say their teams are under-resourced and 54 per cent of employees say the team they work in is now weaker," he said in a statement.
"During the downturn, many organisations 'cut the fat' but these results suggest that many also 'cut into the muscle'.
"Employers desperately need to bolster not only the size, but also the strength of their teams to bring their businesses back to a place where they can compete effectively in their markets and establish a solid foundation for sustainable, long-term growth."
