IKEA's $5,000 loss per worker exit led to pay hike
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IKEA, the Swedish furniture giant, has been grappling with a significant turnover of employees in the US, UK, and Ireland. The company was losing over 62,000 workers annually due to various reasons, which accounted for about a third of its workforce. This high turnover rate was costing IKEA over $5,000 per employee departure. To address this issue, the company implemented measures to improve worker satisfaction and retention.