Ikea’s global loyalty program gives the employees a special annual bonus.
But it won’t be opened for Christmas.
The extra payments will be done after five years – and available when retiring.
The loyalty program ”Thanks” aims to strengthen employees’ retirement. The provision for 2014 is 100 million EUR. In conjunction with the launch of ‘Thanks’, a year ago, a lump sum of 100 million EUR was allocated . The total sum amounts to 200 million EUR.
The loyalty program, is inspired by Ingvar Kamprad’s desire to share the success with employees.
”’Thanks’ is a way for us to show appreciation and gratitude to our employees. All employees, regardless of position, contribute to and are important to our continued growth”, says Håkan Svedman, country manager of IKEA Sweden.
Employees who work full time receive the same amount regardless of device, position and salary level. Employees who work part-time receive a proportional amount in relation to the time worked.
The global allocation is distributed among all countries in the IKEA Group based on each country’s share of total wages. For every completed year of operation as an employee, are allocated an individual amount of pension.
Provision for the year means approximately 27,000 SEK for a full-time employee in Sweden, 19,000 DKK in Denmark
“We can now celebrate the first annual payment to our employees, and it is with great pleasure that I can tell you that a full-time employee in Denmark with five years of service or more this year paid 18 936 kr. For their retirement.” says Dennis Balslev, Country Manager in Denmark.
When an Ikea co-worker has worked for five years a provision is done the following fiscal year. The basic principle is that the payment is made when the employee retires.
All employees within the Ikea Group are covered by both ‘Thanks!’ and the performance-based bonus system ‘One IKEA bonus’ that is linked to salary level and paid annually on the achievement of agreed targets.
”We see that these two benefits will strengthen the Ikea Group as a great place to work, today and in the future,” says Håkan Svedman.