IKEA Canada is supporting employees amid the rising cost of living by offering emergency relief grants through its Ingka Social Fund and extra discounts on select products.
“The establishment of the global social fund was triggered by the energy crisis and inflationary pressures that many are experiencing in markets around the world,” says Natasha Bagley, co-worker experience manager at IKEA Canada. “The ambition of the fund was to support one-time costs for co-workers who may need a little extra support during these unprecedented times.”
To qualify for the fund, employees needed to demonstrate financial need while having made reasonable attempts to address the emergency on their own, notes Bagley, adding the application process is completely anonymous and confidential.
Since February 2023, a national committee has reviewed submissions bi-weekly and roughly 275 employees have been provided with a one-time financial aid contribution.
Employees can also receive a discount on select products such as energy-saving light bulbs, textiles and floor coverings, as well as food items available in IKEA Canada stores.
Beyond these initiatives, the company provides support through a comprehensive total rewards package that’s meaningful and competitive with the local market, says Bagley. This includes mental-health resources through an employee assistance program and wellness days for all permanent employees.
“We believe in making space for the uniqueness of the individuals on our teams and in taking care of our [employees and their well-being]. Our workplace culture and IKEA spirit help us to face these new challenges as we build an IKEA for generations to come.”