Human Resource Innovation Practises at IKEA

IKEA ‘S:-

VISION

MISSION

OBJECTIVES

IKEA - An Introduction

Recruitment and Selection

• Value Driven• “Assemble your future”

Increasing Employee’s KSA• Training• Compensation

Strategies used by IKEA:-

1. Low cost leadership strategy 2. Product strategy 3. Promotion strategy 4. Market development strategy

Core competencies:-

1.Profitability 2.Value chain 3.Brand image 4.Social responsibility5.Sustainable business model

Recommendations:-

1. The selection based of hiring people should be expanded.

2. Promotion of successful mangers from various countries in order to have cultural similarities.

Conclusion• IKEA’s innovative human resource management practices has helped build a strong

and nurturing culture that promotes diversity and creativity• In an industry characterized by high turnover, their employee friendly policy has

made IKEA a preferred employer in the retail sector

• Working in line with strategy, its HRM practices has helped in sustaining IKEA’s growth

• In many countries, IKEA is the “Employer of Choice” and globally IKEA is listed as one of the top 50 most attractive employers in 2010

• IKEA has the distinction of being in FORTUNE’s “100 Best Companies to Work For” list for three consecutive years