News: Christmas comes early for IKEA workers with pension goodies

Compensation & Benefits

Christmas comes early for IKEA workers with pension goodies

IKEA Group thanks its staff with Rs 737-crore pension fund. In India, the company plans to open 25 stores, to hire 10,000, plans to rope in more women workers.
Christmas comes early for IKEA workers with pension goodies

New Delhi: IKEA Group, through its loyalty programme TACK, has put Rs 737 crores into the pension fundings of its co-workers all over the world. This is the company’s way of saying thank you to its employees. The loyalty programme benefits some 128,000 co-workers in 43 countries.

“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,” said 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”, said Anna-Carin. 

TACK was introduced two years ago in IKEA. Since then, a total of  Rs 2,148 crore 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. 

All IKEA Group co-workers are also included in the performance driven ‘One IKEA Bonus’ that can potentially give every employee an extra month’s salary each year. Recently IKEA India purchased its first piece of land in Hyderabad and is looking for land sites in the other cities of Delhi & NCR, Mumbai and Bangalore to open their stores. 






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Topics: Compensation & Benefits, #Corporate

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