More than 950 IKEA workers in the north west will receive a pay increase as part of the retailer's £12m cost of living investment.
Workers at the Warrington and Manchester stores will further benefit as the retailer is also introducing a broad range of support measures. Workers paid an hourly rate will receive a boost in earnings to £10.90 as part of the Swedish retailer's continued pledge to pay the Real Living Wage.
Salaried workers in the north west will receive a pay rise of 6% on average. IKEA is also ramping up its benefits package for workers, investing in additional financial, physical and mental support measures. Measures will include increased discounts of IKEA products with staff discount doubling to 30%, more free food options in the restaurant, and travel season ticket discounts.
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Employees of more than six months will have the option of a flexible, no questions asked loan of up to £1,000, or up to 10% of their salary. In addition to the cost-of-living investment, to recognise exceptional performance, all eligible members of the team throughout the UK and Ireland will receive a bonus – of around one month’s salary – in time for the festive season.
Darren Taylor, Country People & Culture Manager, IKEA UK & Ireland: "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, added: "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."
Pay increases for all eligible UK & Ireland co-workers and access to the loan and Ingka IKEA Social Fund will come into effect in January 2023.
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