Tack! is Ikea’s new loyalty programme that should help contribute to employees’ pensions. The chain is still investigating how it can implement the programme in each separate country.
At least 5 years of service
Each Ikea employee will get a yearly amount set aside through Tack! and after at least five years of service, it can be transferred into a contribution for their pension. The money will be paid once the employee reaches the retirement age. All full-time equivalents will get the same amount, regardless of their store, function or salary level. Part-time employees will get a compensation based on the hours they work.
“Tack! is the Swedish word for “thank you” and we want to show appreciation and gratitude for our co-workers’ loyalty and contribution. […] All of them, no matter what position they hold, contribute and are important for our continued growth”, said CEO Peter Agnefjäll.
On top of bonus system
Ikea’s contribution to this new loyalty system will be decided on a yearly basis. For its launch, Ikea will deposit an initial 100 million euro into the fund. The Swedish company does point out that certain global targets have to be reached for contributions to be made.
Tack! follows the recently launched One Ikea Bonus programme, a performance driven bonus system based on the individual salary level. Employees get a yearly bonus if local targets are met. “We believe that these two programs will strengthen the IKEA Group as a great place to work, today and in the future”, Agnefjäll stated.
(Translated by Gary Peeters)