What: Ikea has injected GBP 35m into a pay rise and bonus scheme to support staff through the ongoing cost-of-living crisis.

Why it is important: Ikea believes that when its co-workers grow, so does the company, so further investment aims to enhance the financial stability and security of the employees.

Ikea has pledged to meet the new Real Living Wage, with hourly-paid staff within London stores receiving the new rate of GBP 13.15 per hour and employees outside of London will receive GBP 12 per hour. Hourly-paid workers will receive a 10% increase and salaried co-workers will see their pay jump by 5% from January.

The GBP 35m investment into pay follows a GBP 12m cost-of-living support package shared in January.

Ikea staff receive pay rise in GBP 35m investment