IKEA Group thanks all co-workers around the world with €108 Million

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The IKEA vision is to create a better everyday life for the many people and we offer well designed, functional and affordable, high quality home furnishing, produced with care for people and the environment.magic-7-csr-summit-1472x423-pxl

India CSR News Network

MUMBAI: A way for the IKEA Group to say thank you to its co-workers is through Tack! – the IKEA Group loyalty programme. IKEA Group will pay its co-workers another €108 million this year into their pension fundings, for their loyalty and contribution.

“We would like to show our co-workers appreciation and gratitude for their loyalty and contribution to the success ofIKEA. We do this through Tack! And I am happy to announce that this year’s payout will give our co-workers at IKEAGroup in India a Rs.14219/- each in their pension fund for this year. In India today we have around 300 co-workers, which will grow to 1500+ co-workers in a year and 14000 by 2025. We value our co-workers who are our most valuable assets. Happy co- workers can lead to bigger successes especially in India where there is so much talent” says Anna-Carin Mansson, Country HR Manager, IKEA India.

As part of the unique loyalty programme, IKEA Group co-workers annually receive an extra pay-out in addition to existing pensions, according to the same fair and simple principle. Every full-time IKEA Group co-worker in India who has worked for IKEA for five years or more, receives the same amount regardless of their position or salary level. Part-time co-workers will receive a proportional amount in relation to hours worked.

“Tack is the Swedish way to say thank you and every co-worker is important for our success and continued growth. This is why all co-workers in IKEA Group are included in Tack! according to the same fair and simple principles” says Anna-Carin Mansson.

Since Financial Year2014, €413 million has been allocated to the TACK! programme. The global funding is divided between all IKEA Group countries, based on each country’s proportion of the total salary and wages. A pre-requisite for a funding of the programme is that IKEA Group reaches its goal results.

In addition to Tack! all IKEA Group co-workers are also included in the performance driven One IKEA Bonus that can potentially give every co-worker around an extra month’s salary a year. 

The IKEA vision is to create a better everyday life for the many people and we offer well designed, functional and affordable, high quality home furnishing, produced with care for people and the environment. The IKEA Group owns and operates 341 stores in 28 countries under franchise agreements with Inter IKEA Systems B.V. In addition there are around 50 stores run by other franchisees. The IKEA Group had 783 million visits during FY16 and more than 2.1 billion people.

IKEA has been sourcing from India for the 30 years for its global stores. In India, it currently has 50 suppliers with 45,000 direct employees and 400,000 people in the extended supply chain. The IKEA Group is the first major single brand retailer to get FDI approval and plans to open several stores in Delhi/NCR, Hyderabad, Karnataka and Maharashtra. The first IKEA India store will open in Hyderabad by end December and Mumbai in mid 2018.

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