IKEA thanks staff for bumper year
Home furnishing giant IKEA is to devote Â€200 million to Tack!, its new group loyalty programme for staff.
Launched in December last year, the programme rewards employees who have worked with IKEA for over five years with an annual contribution to their individual pension plans, assuming that pre-agreed global sales targets are reached.
To kick-start the programme, IKEA made a one-time initial contribution of €100 million and has allocated a further €100 million for the 2014 financial year.
Gillian Drakeford, IKEA UK and Ireland country manager, said: “Tack! – Swedish for thank you – is inspired by IKEA founder, Ingvar Kamprad’s wish to share the success of the IKEA Group with our co-workers. With this programme we want to show appreciation and gratitude for our co-worker’s loyalty and contribution to the success of IKEA. Everyone, no matter what position we hold at IKEA, is important for our continued growth.”
All eligible UK employees will receive the same proportional amount in relation to hours worked, regardless of unit, position or salary level. With over 47% of UK employees having worked with IKEA for five or more years, over 3,700 will be eligible for the first pay out. For those who have worked at IKEA for a full financial year but not yet reached five years, an individual allocation will be set aside and paid into their pension plans after the completion of five consecutive years of employment.
In addition to Tack!, IKEA is also giving all UK employees a bonus of up to 10% of their annual salary following an 11% sales increase in financial year 2014. This willb made through the One IKEA Bonus programme which was launched in September 2013.
Drakeford added: “We also want to thank and reward our co-workers for what has been a fantastic year of growth here in the UK. This growth did not come by itself but through the contribution of every one of our co-workers working together towards our business goals.
“We believe that Tack! and One IKEA Bonus, together with our base salary forms an extremely strong compensation offer for our co-workers, making IKEA an even more attractive place to work.”
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