The Tack! loyalty program – which means 'thank you' in Swedish – rewards co-workers for a year of growth and success
BURLINGTON, ON, Dec. 5, 2017 /CNW/ - Today, IKEA Group says thank you to its co-workers across the world through Tack! – the IKEA Group loyalty program. IKEA Group announced it will pay another €96 million ($145 million Canadian) into co-worker retirement programs for their loyalty and contribution. For Fiscal Year 2017, every full-time co-worker in Canada who has worked at IKEA for a full fiscal year, will receive $1,453.60, regardless of their position or salary level. Eligible part-time co-workers will also receive a proportional amount in relation to hours worked.
"We know that IKEA co-workers are our best ambassadors and the key to developing our business and delivering strong results," said Marsha Smith, President of IKEA Canada. "We believe in rewarding their loyalty and showing our appreciation for their continued hard work. As we look to double the number of Canadian co-workers in the coming years, we are committed to ensuring that IKEA continues to be a great place to work."
In Canada, the Tack! loyalty program operates as a deferred profit sharing program. As part of the program, IKEA Group co-workers annually receive an extra pay-out in addition to existing RRSP contribution programs. Tack! is part of IKEA Canada's Total Rewards package for co-workers, which also includes a performance-driven bonus program, subsidized meals, a co-worker discount and a Group RRSP.
The Tack! loyalty program launched in 2014 based on the wish of IKEA founder Ingvar Kamprad to share the success of IKEA with all co-workers around the world. Since then the IKEA Group has paid out €509 million globally. The global funding is divided between all IKEA Group countries, based on each country's proportion of the total salary and wages.
ABOUT IKEA CANADA
IKEA Group is a leading home furnishing retailer with 357 stores in more than 29 countries worldwide, which are visited by 817 million people every year. IKEA Canada has 13 stores, an eCommerce virtual store, six Pick-up and order points and 13 Collection Points. The company also announced plans to open new stores in Quebec City and London, Ontario. Last year, IKEA Canada welcomed 28 million visitors to its stores and 95 million visitors to the IKEA.ca website. Founded in 1943, IKEA's business philosophy is to offer a wide range of products of good design and function at prices so low, the majority of people can afford them. For more information on IKEA Canada, please visit: www.ikea.com.
SOURCE IKEA Canada
IKEA CANADA, Kristin Newbigging, Public Relations Manager, 905-637-9440 ext. 6237, [email protected]
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