Ikea Reduces Employee Turnover with Wage Increases and Flexible Work Options

The Swedish retailer's strategy includes higher pay, better benefits, and innovative technologies to retain staff.

Ikea's global quit rate dropped from 22.4% in 2022 to 17.5% in 2024.
The company faced high turnover costs, losing $5,000 per departing employee.
New measures include subsidized childcare, remote work options, and an AI tool to predict turnover.
Turnover in the US fell from one-third to one-fourth of employees within a year.
Challenges remain in Japan and France despite overall improvements.