IKEA's Ingka Group Offers Bonus To Thank Co-workers For Efforts During Pandemic
Ingka Group has announced that it will bring a financial gift, called UPPSKATTA (meaning gift of appreciation, in Swedish). This financial gift of €110 million is for all co-workers around the globe to recognize their efforts during extraordinary times. It is also an opportunity to come together and celebrate great results, our strong IKEA culture and sharing and implementing best practices.
The gift is a one-time show of appreciation, in addition to the existing reward packages Ingka Group offers. These include an annual ‘One IKEA’ bonus based on company and unit performance, as well as a one-time pension contribution through the company’s “Tack” loyalty program for co-workers employed for a minimum of five years.
Ingka Group operates IKEA stores and meeting places in 32 markets, with 170,000+ co-workers. The award will be divided among these countries in which the Ingka Group operates and apply to all Ingka Group co-workers (IKEA Retail, Ingka Centers, and Ingka Investments).
Peter Betzel, CEO & CSO (Chief Sustainability Officer), IKEA India, says, “Our co-workers are our most important brand ambassadors. Since the early stage of the pandemic, we have strived to support our co-workers in a professional and caring manner, in line with our values and humanistic approach, and this is another step in that direction. We adapted both as individuals and as a business to meet our customers’ needs and dreams during a time when life at home was never more important. Together we have developed many new skills and delivered amazing results, despite the pandemic and the impact that had on us. This gift is to show our appreciation for all our co-workers for their hard work and togetherness. We are proud of them.”
“When we look back over the past 18 months, we saw all the extraordinary efforts we have accomplished, together - for each other, for our customers, and with all our partners. We recognize all the hard work we have all put in during last year, and the fact that we have all had our personal battles during that time. The pandemic is still here and affects us personally and our business, but we believe in a bright future. This is truly a heart-warming thank you to all of us that we want to celebrate together and share a financial gift with all our co-workers”, says Parineeta Cecil Lakra, People & Culture Manager, IKEA India.
Since the beginning of the pandemic, the group has overcome incredible challenges, shown how adaptable it could be, and how performance driven it is.
Ingka Group recently announced strong IKEA retail sales of EUR 37.4 billion for the financial year 2021, an increase of 6.3% compared to last year (EUR 35.2 billion in FY20). The total share of online sales increased from 18% to 30%, and despite the challenges of the pandemic, the company opened an additional 26 new locations.
