Ingka Group, the largest IKEA retailer operating in 31 countries, will pay out a EUR 311 million performance-based bonus, based on good result in FY23(1), which saw revenue grow by 5.4%.
“We want all co-workers to stay and grow with IKEA, and to know how much we value their long-term contribution, entrepreneurship, dedication, and commitment”
– Ulrika Biesèrt, People & Culture manager for Ingka Group
“In an era marked by increased cost of living, with stress and mental health issues on the rise around the world, and the looming challenges of climate, geopolitical and technological change, it’s more important than ever to recognize that the success of IKEA depends on engaged co-workers who strive every day to create a better everyday life for the many people,” says Ulrika Biesèrt, People & Culture manager for Ingka Group. “When co-workers thrive, customers are happy, and IKEA grows.”
Over the past few years, Ingka Group has been transforming into an omnichannel retailer, while it focuses on simplifying its organisation and ensuring it’s financially fit. The company’s global annual performance-driven bonus programme, “One IKEA Bonus”, rewards co-workers each year when the specific business goals are reached or exceeded. The pay-out varies every year and is based on the performance of the business unit, or a retail country and market area.
Additionally, Ingka Group will allocate a total of EUR 103 million in contribution through the company’s global “Tack!” loyalty pension programme. Tack means “thank you” in Swedish.
The “Tack!” pension funding is divided between all countries where Ingka Group is represented. In each country, every full-time co-worker who has worked for Ingka Group for five years or more receives the same amount of extra contribution to their pension fund, regardless of their position or salary level. Part-time co-workers receive a proportional contribution, in relation to the hours worked.
“We want all co-workers to stay and grow with IKEA, and to know how much we value their long-term contribution, entrepreneurship, dedication, and commitment,” Biesèrt says. “This is the right thing to do and it’s good for business.”
Including the new FY23 figures, Ingka Group has paid out around EUR 1.4 billion in its “One IKEA Bonus” since 2017 and around EUR 930 million through its “Tack!” loyalty pension programme since 2014.
(1) Fiscal year 23: 1 September 2022 – 31 August 2023.
About Ingka Group:
With IKEA retail operations on 31 markets, Ingka Group is the largest IKEA retailer and represents about 90% of IKEA retail sales. It is a strategic partner to develop and innovate the IKEA business and help define common IKEA strategies. Ingka Group owns and operates IKEA sales channels under franchise agreements with Inter IKEA Systems B.V. It has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Read more on www.Ingka.com.
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