Melaleuca CEO Frank VanderSloot paid more than $4.7 million in special bonuses to employees at the company’s recognition meeting Thursday.
VanderSloot made a surprise announcement that more than 2,000 employees would receive “hero bonuses” of up to $1,500 in their next check, a Melaleuca news release said. In all, the “hero bonuses” totaled approximately $2 million.
VanderSloot also awarded “beyond the call of duty” bonuses of up to $750 to recognize “employees’ ingenuity, determination, and drive that kept Melaleuca wellness products flowing throughout quarantine and the pandemic,” the release said. The bonus is targeted toward employees in the company’s warehouses, manufacturing plants and distribution centers. Many employees will receive both bonuses, the release said.
“… While other companies all around the country were closing down, Melaleuca kept going,” VanderSloot said, according to the release. “And, in addition, we kept everybody safe. Because you carefully followed our safety precautions, our employees were protected while they were at work. I am so proud of you!”
Additionally, Melaleuca recognized 210 employees who reached landmark work anniversaries this year by rewarding them with over $2.7 million in loyalty and long-term contribution bonuses, the release said. Each of those employees received checks ranging from $5,000 to $33,000 in appreciation for their many years of service to Melaleuca.
This year, Melaleuca’s longevity bonus payout was its largest ever at $2,700,875, the release said. To date the company has paid nearly $33 million in longevity bonuses since the program began in 2007.
This program pays employees $5,000 for a five-year service anniversary, $10,000 at 10 years, $15,000 at 15 years, $33,000 ($20,000 net) for 20 years, $25,000 for 25 years, and $30,000 for 30 years, the release said.
The program is intended to allow Melaleuca employees to retire as millionaires.
“Every 30-year employee has the opportunity to save over $1 million for retirement from Melaleuca,” the release said. “An employee would only need to take advantage of the company’s 401(k) matching program, invest their longevity bonuses, and achieve a modest rate of return on that investment.”
Now in its 37th year, Melaleuca has grown to 4,903 employees worldwide with 2,424 employees in the United States, the release said.