IKEA to share 105 million EUR extra with employees

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IKEA gives its employees 105 million EUR extra this year in future pension provision, distributed to 128,000 people in 43 countries. For the Nordics, this means 14,000 SEK, 14,582 NOK, 11,233 DKK or 1176 EUR per full-time working person.

”All employees who’s worked five years of operation, or more, are qualified,” says HR director Karin Bergman.

IKEA is allocating 105 million EUR to the employee’s future retirement, the IKEA Group’s loyalty program Thanks !.

”Thanks! is our way to say thank you to our employees for their loyalty and for their contribution to IKEA’s success. I am pleased to tell you that this year’s payment gives our employees in Sweden almost 14 000 SEK extra in pension provision,” says Karin Bergman, HR director of IKEA Sweden.

Her quote is the same as the Nordic communication managers in each country’s press release.

The amount in Norway is 14,582 NOK, 11,233 DKK in Denmark, 1176 EUR in Finland.

The program is inspired by founder Ingvar Kamprad’s desire to share the success together with the employee. The program aims to strengthen employees’ pensions and appropriated annually when the set criteria are achieved.

”Every employee is important to our success and continued growth. Everyone who works full time at IKEA Sweden gets the same amount regardless of device, position and salary level. Part-time Employees receive an amount that is proportional to the number of hours worked. All employees who worked five years of operation, or more, are qualified,” continues Karin Bergman.

Since the program was introduced two years ago, a total of 305 million EUR has been allocated to the loyalty program. The money is divided between all IKEA Group countries, based on each country’s share of total wages. The loyalty program is a benefit for 128 000 employees in 43 countries.

All IKEA Group employees are also in the performance-based bonus program. This can give each employee an extra payment, equivalent to approximately one month’s salary, each year, if goals are achieved. Denmark’s employees will get it for Christmas. Employees in the other Nordic countries will get in January.