IKEA Group thanks its co-workers with Rs.737 crores (105 million euros)into pension funding, globally

Under the programme, each eligible IKEA India employee will get Rs. 1,12,117 as part of pension fund, irrespective of designation or level.

IKEA Group puts another Rs. 737 crores into the pension fundings of its co-workers all over the world. This is the companies way of saying thank you to its co-workers through Tack! – which is the IKEA Group’s loyalty programme.

“We believe that TACK is a great contribution in creating a better everyday life for our co-workers, who are our most important asset. It is IKEA’s way to say thank you to our co-workers. In India, today we are a small team of 200 people but we expect to grow to be 10,000 + co-workers over time, as we plan to build 25 stores in the coming years. Each store will employ about 500 to 700 co-workers directly and 1200 indirectly in the supply chain. In India, IKEA aims to employ 50% women co-workers across all levels,” says Anna- Carin, Country HR Manager, IKEA India.

As a part of the unique loyalty programme, inspired by the founder Ingvar Kamprad, IKEA Group co-workers annually receive an extra pay-out in addition to existing pensions, according to the same fair and simple principle.

“Every co-worker is important for our success and continued growth. This is why 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”, says Anna-Carin.

Since Tack!was introduced two years ago a total of 2148 crores (305 million euros) has been allocated to the programme. The global funding is divided between all IKEA Group countries, based on each country’s proportion of the total salary and wages. The loyalty programme benefits some 128,000 co-workers in 43 countries.

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.

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