Ikea invests £12m in cost of living support package
These include doubling the staff discount to 30% across 2000+ home-furnishing articles, more free food options in the co-worker restaurant and travel season ticket discounts
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Ikea has announced that it is investing £12m in a pay increase and wellbeing support package for staff across the UK and Ireland to support them during the cost-of-living crisis.
Salaried staff will receive a pay rise of 6% on average, in line with the retailer’s commitment to paying a “fair and sustainable rate of pay”.
The retailer is also ramping up its existing benefits package for staff, investing in additional financial, physical, and mental wellbeing support measures.
These include doubling the staff discount to 30% across 2000+ home-furnishing articles, more free food options in the co-worker restaurant and travel season ticket discounts.
In addition to the cost-of-living investment, every eligible member of the team throughout the UK and Ireland will receive a bonus of approximately one month’s salary in time for christmas.
Darren Taylor, country people and culture manager, said: “Our people are at the heart of the success of our business and we have always been committed to paying a fair, sustainable rate of pay based on the cost of living. This year is no different. Recognising the increasing challenges brought by the rising cost of living.
“We are pleased to share some of the additional measures we are taking to ensure needs are met; and hope that it will ease some of the pressures of the current climate. By building on our existing co-worker benefits, and by heightening the focus in this area, we want to ensure that our colleagues feel supported during this challenging period.”
Katherine Chapman, director of the Living Wage Foundation, said: “Since joining the Living Wage Foundation in 2016, we’re delighted that IKEA continues to show real leadership on pay in retail. We all need a wage that meets our everyday needs, and in paying a real Living Wage to co-workers IKEA will provide them, and their families, with security and stability now and in the months ahead.
“During this cost-of-living crisis, it’s never been more important for workers to earn a real Living Wage, calculated based on the cost of living.”
