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Ikea Named One Of Fortune’s 2005 “100 Best Companies To Work For”

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IKEA, a leading home furnishings retailer, was recognized among FORTUNE’s eighth annual “100 Best Companies to Work For” list that will hit newsstands on Jan. 17. Ranked 62nd among the top 100 and 22nd among mid-sized companies, the Swedish employer takes pride in creating a workplace that mirrors its corporate vision for its customers – “to create a better everyday life for the many people.” “We’re delighted to be among FORTUNE’s ‘100 Best Companies to Work For.’ At IKEA, we live by the philosophy that when coworkers have the support and flexibility to make their personal lives a success, they thrive in the workplace, too,” said Pernille Spiers-Lopez, president, IKEA North America. “This belief comes directly from our founder, Ingvar Kamprad, whose ‘Nine Points of IKEA’ include ‘The IKEA Spirit’ – take care of each other and inspire each other. When people work in an environment in which they are supported and encouraged by their coworkers, they are more passionate and creative in their daily responsibilities, enabling them to perform at their highest potential. This approach has had a significant impact on our coworker turnover rate, professional development and long-term retention.” As part of its strong commitment to work/life balance, IKEA offers family-friendly initiatives and diverse workplace benefits including full medical/dental insurance to coworkers working 20 hours or more per week with eligibility for domestic partners and children. In addition, coworkers with less than 20 hours a week are offered full access to full benefits. Other benefits include: paid maternity/paternity leave and paid time off for child adoption; tuition assistance; generous 401(k) matching; flexible work arrangements (job share, telecommuting and condensed work weeks); extensive professional development, training and mentoring programs; lactation rooms for nursing mothers; and discounts for weight loss and smoking cessation services. The organization does not subscribe to job titles and puts career opportunity into the hands of the individual, encouraging coworkers to take international assignments, with employment opportunities and tuition allowances for spouses. As a result of these benefits, the company has seen a continuous decline in its sales staff turnover, which was 36% in 2003, down from 56% in 2002 and 76% in 2000. For two consecutive years, IKEA has been named to Working Mother magazine’s list of “100 Best Companies for Working Mothers,” and in 2003 received the magazine’s Family Champion award in recognition of the company’s family-friendly programs. IKEA employs more than 8,000 coworkers in the United States and 84,000 globally. Since its 1943 founding in Sweden, IKEA has offered a wide range of home furnishings and accessories of good design and function, at low prices so the majority of people can afford them. IKEA currently has more than 205 stores in 32 countries, including 22 stores in the United States. The company aims to open approximately five new U.S. stores annually. Other U.S. store locations being planned include: Atlanta, GA; Bolingbrook, IL; Brooklyn, NY; Canton, MI; Dublin, CA; Frisco, TX; Somerville, MA; Stoughton, MA; and West Sacramento, CA. IKEA is recognized as a socially responsible company, and supports causes such as children and the environment. To visit the IKEA Web site, please go to http://www.IKEA-usa.com or http://JobsAt.IKEA-usa.com for Jobs at IKEA.

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