Ikea's boss solved the Swedish retailer's global ‘unhappy worker' crisis by raising salaries, introducing flexible working and subsidizing childcare [Fortune]
Dollar General Corporation (DG)
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Source: Fortune
Globally, each departure cost Ikea $5,000 or more to replace. To stem the bleeding, the Swedish furniture behemoth needed to figure out what was making its store workers so unhappy — and fix it fast. By 2022, more than employees were departing a year for various reasons, equating to about a third of its workforce, and the pandemic-era labor shortage made it difficult to replenish its ranks. Workers “suddenly became very scarce,” said Jon Abrahamsson Ring, chief executive officer of Inter Ikea Group — the umbrella entity that oversees Ikea's store franchising, product design and supply chain — in a recent interview in New York. Ikea focused on things that many businesses talk about doing but struggle to actually implement: Boosting pay, increasing flexibility for frontline employees and using emerging technologies to make things easier on workers and their customers. The results were stark: Voluntary turnover in the US dropped to about a quarter of employees by the end of 2023, f
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DG
Earnings
- 5/30/24 - Beat
DG
Sec Filings
- 5/31/24 - Form 4
- 5/31/24 - Form 4
- 5/31/24 - Form 4
- DG's page on the SEC website