“Globally, across the parent company’s more than 600 stores and warehouses, the quit rate fell to 17.5% in April from 22.4% in August 2022.”
Each departure cost Ikea $5,000 or more to replace. London base pay went from 11 pounds an hour to 13.15 and the quit rate dropped. Paying people more makes them stay. The business press calls it a breakthrough. Every retail CFO knew it and chose the $5,000 churn instead.