CST: 29/07/2016 02:47:45   

IKEA U.S. Listed on the 2016 FORTUNE 100 Best Companies to Work For(R) List

147 Days ago

CONSHOHOCKEN, PA --(Marketwired - March 03, 2016) - Today FORTUNE announced that IKEA U.S. is listed on the 2016 FORTUNE 100 Best Companies to Work For® list.

"I'd like to thank my fellow 14,000 U.S. co-workers for their contribution in making IKEA a great place to work," said Lars Petersson, IKEA U.S. President. "It's gratifying that our unique culture and values, together with the investments that we've made in our co-workers, help to make working at IKEA a great experience for co-workers. And happy co-workers contribute to a good shopping experience for our customers."

"The 100 best workplaces are at the vanguard of an emerging movement," said Michael Bush, CEO of Great Place to Work®. "It's a movement of great workplaces for all-for people of all backgrounds, geographies and job titles. The 100 best and those that join them are enjoying better business outcomes even as they build a better society."

IKEA was cited for its strong culture and how it ensures that employees live the company values of humbleness, willpower, simplicity, and togetherness and enthusiasm. The company was also recognized for their "egalitarian culture" that provides part-time co-workers who work 20 hours or more per week full benefits. Additionally, if an hourly co-worker has a disagreement with a corrective action or termination, the issue can be reviewed by a panel of peers.

Great Place to Work® evaluates each company's application using its unique methodology based on five dimensions: credibility, respect, fairness, pride and camaraderie. Applicant companies opt to participate in the selection process, which includes an employee survey and an in-depth questionnaire about their programs and company practices.*

What makes IKEA a great place to work

  • Our unique work environment.
    • The IKEA values of humbleness and simplicity, working together and embracing diversity are core to  IKEA. Caring about co-workers is behind the many decisions IKEA makes.
    • For example, IKEA offers retail industry leading scheduling, providing schedules three weeks in advance so our co-workers can plan a life outside of work.
  • There are opportunities to have a retail career at IKEA.
    • Every person is seen as talent with the ability to learn and the possibility to grow and develop. All co-workers have the opportunity to develop their competence in their daily work, through training programs and assignments.
  • Our co-workers want to stay at IKEA.
    • As of July 2015, the average tenure of an IKEA co-worker is 5 years, which is well above industry and U.S. workforce average (The 2014 U.S. Dept. of Labor report states that the average tenure of a U.S. retail co-worker is 3.3 years). Turnover rate is currently 28%, well below the industry average of 49%.**
  • We've invested in compensation and benefits to have a positive impact on our co-workers' lives.
    • In January 2015, IKEA implemented a new minimum wage structure based on the local living costs instead of the cost of labor. In January 2016, IKEA raised local minimum wages again. The average minimum hourly wage is $11.87 and all IKEA stores have a minimum wage above $10 per hour. The average hourly pay rate is $15.45/hour.
    • Co-workers working 20 hours or more per week are eligible for health benefits.
    • According to an independent evaluation (Towers Watson BENVAL), the IKEA benefit offer is above average in healthcare benefits compared to our peers, and well above average in disability and paid time off benefits.

IKEA U.S. has recently been recognized as a great place to work on the Great Place to Work® and Fortune 20 Best Workplaces Retail list. Additionally, IKEA received the number three spot on the CareerBliss "Happiest Retailers to Work For" list and was also recently recognized by the Human Rights Campaign (HRC) Foundation with a 100%, perfect score on the 2016 Corporate Equality Index (CEI).

About IKEA Group

The IKEA vision is to create a better everyday life for the many people. Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. There are currently 328 IKEA Group stores in 28 countries. Additionally, there are 40 IKEA stores run by franchises. There are 41 IKEA stores in the U.S. In FY 15, IKEA Group had 771 million visitors to the stores and 1.9 billion visitors to IKEA.com. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information, please visit www.IKEA.com, facebook.com/IKEAUSA, @IKEAUSANews, @IKEAUSA, http://pinterest.com/IKEAUSA/, www.youtube.com/IKEAUSA, www.theshare-space.com, www.theshare-space.com/en/Blog

About Great Place to Work®

Great Place to Work® is the global authority on high-trust, high-performance workplace cultures. Through proprietary assessment tools, advisory services, and certification programs, including Best Workplaces lists and workplace reviews, Great Place to Work® provides the benchmarks, framework, and expertise needed to create, sustain, and recognize outstanding workplace cultures. In the United States, Great Place to Work® produces the annual Fortune "100 Best Companies to Work For®" list and a series of Great Place to Work® Best Workplaces lists including lists for Millennials, Women, Diversity, Small and Medium Companies and over a half dozen different industry lists.

Follow Great Place to Work® online at www.greatplacetowork.com and on Twitter at @GPTW_US.

About the methodology*

To identify the 100 Best Companies to Work For, each year Fortune partners with Great Place to Work to conduct the most extensive employee survey in corporate America. Two-thirds of a company's survey score is based on the results of the Trust Index Employee Survey, which is sent to a random sample of employees from each company. This survey asks questions related to employees' attitudes about management's credibility, overall job satisfaction, and camaraderie. The other third is based on responses to the Culture Audit, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, methods of internal communication, training, recognition programs, and diversity efforts.

**Industry average turnover rate is from the Society of Human Resources Management Report, July 31, 2015.

Contact:
Mona Astra Liss
IKEA U.S. PR Director
Mona.Liss@IKEA.com
610.834.0180, ext. 5852