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IKEA To Thank Staff Via Cash

Has your boss ever thanked you for a job well done? Well, one company is doing just that and then some.

Swedish home furnishings giant IKEA is splitting this Saturday's sales equally among its 40,000 employees worldwide. CBS News This Morning reports.


All gross sales from IKEA stores worldwide Oct. 9 will be divided among its 40,000 employees without regard to rank or years of service within the company.

According to estimates, each employee worldwide stands to earn approximately $1,500. Part-time employees will receive a half share. There is a maximum limit of three months' salary for IKEA store employees in some countries such as China and Poland.

"The founder of the company wanted to say thank-you for not only a good year but for good performance over a number of years," says Jan Kjellman, president of IKEA North America, about Ingvar Kamprad.

The Swedish corporation is a 54-year-old worldwide home furnishings giant, specializing in stripped-down warehouse stores, reasonable prices and "some-assembly-required" furniture.

The company has 150 stores worldwide in 29 countries; there 13 IKEA stores in the United States, in New York, New Jersey, Pennsylvania, Maryland, Virginia, Texas, California and Washington state.

"The co-workers at the stores have been driving all of the hoopla behind the event and have been involved in the marketing," Kjellman says.

The employees have a special reason to get involved in marketing this event, but Kjellman says that the company generally encourages them to take responsibility for how the stores operate.

"We have extended the opening hours. Stores in America will open from 7 a.m. to 11 p.m.," says Kjellman. "In some countries, stores will be open the whole night."

IKEA does about $8 billion a year in sales; on a good day its sales total $60 million, or 500 million krona.

IKEA is also offering something special to its customers on Saturday, Kjellman says. "Here in the U.S., in each of our stores every hour there will be two possibilities to win all of your purchases."

"There will be a lottery set up at the cash lanes. There will be other things such as music and face painting for kids, and clowns," he adds.

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