Nearly 200 Melaleuca employees smiled a little brighter than usual during a companywide meeting today. That’s because for 197 employees, each of whom celebrated landmark anniversaries this year with Melaleuca, they received a portion of $2.3 million in loyalty and longevity bonuses at today’s event.
$17.5 Million in Service Bonuses Since 2007
Melaleuca has paid $17,584,243 to over 1,000 employees since instituting this bonus in 2007. It created this program so every 30-year employee can have in excess of $1 million in the bank when they retire from Melaleuca.
This bonus is for all full- and part-time employees, regardless of position or pay level, and an employee’s length of service is the only qualification. Melaleuca pays $5,000 for a five-year anniversary, $10,000 for 10 years, $15,000 for 15 years, $33,000 ($20,000 net) for 20 years, $25,000 for 25 years, and $30,000 for 30 years.
In 2015, eleven employees earned $25,000 checks, 16 employees received $20,000 net checks, and 27 employees opened $15,000 checks. Melaleuca also presented $10,000 checks to 65 employees, and $5,000 checks to 77 employees.
“It’s impressive to watch how many people are going the distance with us,” said Melaleuca CEO Frank VanderSloot. “We believe that employees who have helped us build this company should share in the wealth.”
Retire as a Millionaire
Prior to distributing $2.3 million, VanderSloot met with each of the longevity bonus recipients. He expressed his appreciation for their years of service and encouraged them to plan for retirement with the money they receive.“It’s our goal that all Melaleuca employees will retire as millionaires,” said VanderSloot. “Even the janitors will retire as millionaires if they simply follow our program.”
Every 30-year employee has the opportunity to save over $1 million for retirement from Melaleuca. An employee would only need to take advantage of the company’s 401(k) matching program, invest the longevity bonuses, and achieve a modest rate of return on that investment.
“Just take that money and invest it wisely and safely,” VanderSloot advised. “The number one investing secret is to start now. You want that money to compound as long as it can. They say that those who understand interest earn it, and those who don’t understand it pay it.”
Melaleuca pays its employees many types of incentives based on performance and productivity. In addition to the company’s loyalty and long-term contribution bonus, Melaleuca offers many benefits that can be found on the Melaleuca jobs website.