Frank L. Vandersloot, President and CEO of Eastern Idaho’s largest private employer, Melaleuca made a huge announcement this week that will affect all of its employees in these tough economic times. But the announcement is a bit different than most of the ones we’ve heard on the news lately. This was good news.
Vandersloot made a promise to his employees that Melaleuca, the direct sales company that manufactures health and wellness products will NOT lay off any employees. As he put it himself, “We’re promising our employees no layoffs. Not today, not tomorrow, not next month, not ever,” said Melaleuca President and CEO Frank L. VanderSloot.
VanderSloot wants to make sure that while he understands that times are tough, he does not want any of his employees to worry about their jobs. Vandersloot reiterated the fact that one of the key components of Melaleuca’s business model is to take care of not only their customers, but also their employees.
VanderSloot spoke to his 2500 Eastern Idaho workers this week about the company’s economic conditions saying that even though overall the company has held up, they are definitely feeling the strain of what is happening with the economy. “Our bottom line is being strained,” said VanderSloot. “Even though we’re growing on the top line, expenses are hitting us like they’ve never hit us before.”
As part of a new incentive program, and to keep morale high, the company gave out $1.7 million dollars in cash to its long term workers. So far over $8 million dollars in cash has been given out this year in longevity bonuses.
Employees receive 5000 dollars on their five year anniversary, 10,000 on their 10 year, 20,000 on their 20, and on up.
Melaleuca did over $800 million in sales last year and despite tough times, is expected to do even better this year.
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