2017 Best Places to Work in Direct Selling

by Courtney Roush

4 Signs
4 Signs

Click here to order the April 2017 issue in which this article appeared or click here to download it to your mobile device.


“Most people think trust is earned. Here, trust is granted. We wouldn’t have hired you if we didn’t trust you.”

These very words are spoken by Xyngular CEO Russ Fletcher to new hires during the company’s new employee orientation sessions, presented by the four members of its executive team. At Xyngular, one of this year’s Best Places to Work in Direct Selling (see special award supplement included with issue), that statement sets the tone for what’s to come: a culture and a host of perks and benefits that convey an implicit message of trust, a key component of employee engagement. So what kind of impact does it have when an executive not only takes the time to personally welcome a new employee, but also makes a declaration of trust right out of the gate? For starters, a 97.7 percent employee retention rate.

Employee engagement: It’s both a simple concept and a complex dynamic. On the surface, employee engagement refers to satisfaction and happiness, but it is so much more than that. It’s a science that puts hard data around “soft” variables like emotional investment and intent to stay. Examine any high-growth company, and you can count on finding employees who believe their opinions are heard, who know specifically how their jobs contribute to the company’s objectives, who have access to professional development opportunities, and who feel valued by leadership. All too often, a company first learns of an employee’s disengagement with a resignation letter. Earlier intervention through better onboarding, mentoring, professional and personal development, recognition and occasional, but regular, touchpoints with senior leadership could have made a difference.

Engagement is a critical topic because, according to our third-party vendor and research partner Quantum Workplace, which conducted surveys and compiled findings for the 2017 Best Places to Work in Direct Selling contest, those perceptions are directly tied to a company’s bottom line.

For more than 10 years, Quantum Workplace has been conducting in-depth surveys with organizations throughout the world. Along the way, a consistent theme has emerged from their findings: Companies with higher employee engagement see better retention, better productivity, better profits. Based on that knowledge, Quantum, through its in-depth research, has revealed some of the primary drivers of engagement, along with factors that can diminish it.

When we speak of employee engagement within direct selling companies, the contributors and detractors really don’t differ from the business world at large. However, it’s important to note the effect of employee engagement on our ultimate customer: the independent salesforce members we serve. It stands to reason that happier employees mean a happier independent salesforce.

The continued growth of the direct selling channel has created an exciting climate in which talented candidates have …

Click here to read the rest of the article at Direct Selling News.

 

 

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Forces Under 40 2017

by DSN Staff

Click here to order the March 2017 issue in which this article appeared.


DSN is thrilled to showcase the most outstanding young professionals working in direct selling companies today. These honorees represent all aspects of the business—from technology and marketing to finance and field services—and represent the fine talent of tomorrow. We know it is imperative to nurture and encourage the young leaders in our channel in order to secure the brightest future possible for all.

These dynamic young leaders are broadening the scope of the companies they work for as well as our entire channel of distribution. Based upon the enthusiastic nominations of the honorees presented here, the future is bright indeed. The program was open to all full-time professionals working in active direct selling companies who turned 40 years old on or after Jan. 1, 2017. The honorees are presented in alphabetical order with each profile including the thoughts and words of the honoree’s respective company.

We also want to thank our generous sponsors, Avalara and Fossil.


PROFILES:

…. Continue to the Honoree’s profiles.

 

 

DSN Announces the 2017 Best Places to Work in Direct Selling

Building on the positive results from its inaugural year, Direct Selling News has partnered once again with the employee engagement experts at Quantum Workplace to identify the Best Places to Work in Direct Selling. The contest was open to all direct selling companies headquartered in North America and having at least 50 employees.

The 2017 honorees for the Best Places to Work in Direct Selling are listed below in alphabetical order. All of these companies are equal honorees and are recognized collectively as the Best Places to Work within the direct selling channel.

Click here to view the honorees.

 

Ryan Goodwin Joins LifeVantage as Chief Marketing Officer

LifeVantage Corp. has tapped marketing strategist Ryan Goodwin to serve as Chief Marketing Officer, rounding out the executive team assembled by CEO Darren Jensen, who joined the company in April.

Goodwin joins Chief Sales Officer Justin Rose, who came on board in July, and Chief Financial Officer Mark Jaggi, who followed in August.

As an entrepreneur and creative director, Goodwin has helped a wide range of companies build successful brands, both inside and outside the direct sales channel. In 2003 he co-founded Struck, a full-service creative agency with offices in Salt Lake City, Los Angeles and Portland, Oregon. Serving as Executive Creative Director of Struck, Goodwin headed up the agency’s creative work for clients such as Volkswagen, Nintendo and Gatorade.

“When it comes to CMOs, there are those who are managers, and there are those who are thought leaders and are truly revolutionary in the way they think,” Jensen said in a statement. “Ryan is one who sees things in a different way than others see things.”

Under Goodwin’s leadership Struck garnered numerous awards, including 2011 Small Agency of the Year from AdAge, a Cannes Lion from the Cannes Lions International Festival of Creativity, Gold Pencils from the One ShowFWA Site of the Year 2006 and others.

“After careful scrutiny of the LifeVantage community, it is clear to me that there is something truly unique here,” said Goodwin. “I believe my skill set perfectly complements the future direction of LifeVantage and our products. Darren brought me here to implement new ideas—things that have never been done in this industry. Consider the ruckus started.”

LifeVantage Slated to Enter Europe in Early 2016

LifeVantage is setting its sights on the European Union, with plans to open its first markets in the region early next year. Initially, the company will offer its wellness, skincare and pet care products in the United Kingdom and the Netherlands, LifeVantage said Wednesday.

“The United Kingdom represents one of the fastest growing markets within direct selling, and their distributors are product-oriented business builders who leverage technology to drive their organizations,” CEO Darren Jensen said in a statement. “The Netherlands represents nearly $150 million in retail sales with more than 48,000 distributors in the country.”

As a whole, the EU accounted for nearly $33 billion in retail sales last year, according to industry research by the World Federation of Direct Selling Associations (WFDSA). LifeVantage plans to leverage its business in the U.K. and the Netherlands as a gateway to additional EU countries, with the Netherlands serving as its logistics hub in the region. The company will begin holding business meetings in the two markets in February 2016.

Utah-based LifeVantage currently operates across North America and Mexico, as well as select markets in the Asia Pacific region, including Australia, Japan, Hong Kong, Thailand and the Philippines. The company generated revenue of $208 million in 2014, placing it at No. 67 on this year’s DSN Global 100 ranking.

LifeVantage Reports Full-Year Earnings Dip, Proposes Reverse Stock Split

LifeVantage Corp. (LFVN—NASDAQ) closed out its fiscal year with revenue down 10 percent to $190.3 million, the health and wellness company said Tuesday.

In the fourth quarter, ended June 30, revenue dropped 20 percent from a year ago to $45.3 million, beating analysts’ estimates of $45.1 million. Adjusted earnings were $3.1 million, down 50 percent year-over-year, but comparable to the company’s third quarter results.

“Our fourth quarter results reflected stability in our revenue and operating results,” President and CEO Darren Jensen, who joined LifeVantage in April, said in a statement. “We strategically implemented $4 million of annualized cost savings in the fourth quarter of fiscal 2015 to better align our cost structure with current sales trends, and position us for stronger EBITDA and net income in fiscal 2016.”

For the full year, LifeVantage generated adjusted earnings of $17.4 million, down 30 percent from 2014. On the back of a 28.2 percent revenue decrease in the Asia/Pacific region, net income fell 40 percent to $7.0 million.

The company also reported that its board of directors has unanimously put forth a reverse stock split proposal. If approved by shareholders, the reverse split would aim at driving up the stock’s minimum price and securing LifeVantage’s Nasdaq listing. The company’s 98 million outstanding shares are currently trading below the $1 minimum required by Nasdaq.

LifeVantage Continues Executive Overhaul with New CFO

Photo: LifeVantage’s Sandy, Utah, headquarters.


LifeVantage has announced another appointment to its executive team, under the leadership of CEO Darren Jensen, who joined the company in April. After bringing on a new Chief Sales Officer in July, the wellness and anti-aging brand this week introduced a new Chief Financial Officer, Mark Jaggi.

Since beginning his finance career at the Ford Motor Co., Jaggi has served as Chief Financial Officer at a succession of companies, including furniture maker O’Sullivan Industries; pharmaceutical, household and pet products company Summit Industries, where he also served as CEO; and health and wellness group TwinLab Consolidated Holdings. At TwinLab, Jaggi’s financial and operational leadership included heading up the company’s debt and equity financing.

“Mark Jaggi brings the perfect mix of business acumen and financial expertise to the company,” Jensen said in a statement. “His years of experience in the nutritional supplement industry as a finance and operations executive, and within growing, publicly traded companies gives Mark a clear understanding of what needs to be accomplished to successfully and responsibly position LifeVantage for long-term sustainable growth.”

LifeVantage and Real Salt Lake Unveil World-Class Testing Lab

Now in the second year of its Real Salt Lake jersey sponsorship, LifeVantage has announced the creation of a performance testing facility in partnership with the Major League Soccer club. The LifeVantage Sport Science Lab will apply advanced science and technology to help players improve their on-field performance.

“We are very excited for our club to venture into this space, one occupied by only a handful of the biggest soccer franchises in the world,” said Dan Barlow, Director of Sports Science and Performance for Real Salt Lake. “The expansion of our performance baselines and the in-depth monitoring of our athletes would not be possible without the commitment and guidance of our LifeVantage partners.”

Barlow is heading up the joint venture, which will hone in on each player’s response to training stress. The data collected will enable the Real Salt Lake Sports Science Department to measure the cellular stress profile—including factors such as oxidation and inflammation—of each athlete and create tailored workout regimens and nutrition plans.

Salt Lake City-based LifeVantage has signed on as the club’s jersey front sponsor for the 2014-2024 seasons. The nutrition and skincare brand markets products that interact with the body at the cellular level, and the lab’s research will help LifeVantage provide the proper supplements to take each player’s game to the next level.

LifeVantage Names Darren Jensen as CEO

The search for LifeVantage’s new President and CEO has ended with the appointment of industry veteran Darren Jensen, effective May 18. Salt Lake City-based LifeVantage announced Wednesday that Jensen will succeed Douglas Robinson, who resigned in February after a four-year tenure with the company.

“The Board quickly recognized that Darren’s unparalleled track record of success with leading the development and execution of business expansion and sales growth strategies makes him the right leader for LifeVantage,” said Garry Mauro, Chairman of the Board of Directors for LifeVantage, calling Jensen a “respected visionary leader” within the industry.

Jensen’s 25 years of direct selling experience has included senior roles at several DSN Global 100 companies. He has led development and execution of global sales, product development and service expansion strategies, most recently as President of the Americas and Chief Sales Officer at a fast-growing personal-care and nutrition brand.

LifeVantage, the No. 34 direct selling company in North America with $214 million in 2014 revenue, reported lagging sales in its second quarter ended Dec. 31, 2014. Revenue dropped from $52 million in the prior year to $48 million, impacted by lower sales in Japan. Outside the Japanese market, revenue increased 1.6 percent compared to the second quarter of 2014. LifeVantage will report its third quarter results on May 6.

via LifeVantage Names Darren Jensen as CEO — Direct Selling News.

2015 DSN North America 50 List


The DSN North America 50DSN Announces the 2015 North America 50!

This marks the sixth year for the Global 100 list of top direct selling companies in the world, and we would not be Direct Selling News if we did not continually strive to raise the bar.

That is why we are pleased to share with you a new component of the project this year: The North America 50. As a subset of the Global 100, this list draws attention to the most significant players in one of the world’s largest direct selling markets.

As DSN embarks on the annual research for the Global 100, we continue to refine the process as we identify the largest companies and acknowledge their achievements while bringing attention to the magnitude of the direct selling industry as a whole. Within that context, the impact that North American companies have on the global marketplace as well as on those that buy and sell through this channel cannot be overstated.

The following contains the North America 50 ranking for the 2015 DSN Global 100 (based on 2014 revenues). Both lists will be published in the June issue of Direct Selling News.


2015 Rank

Company Name

2014 Revenue

1 Amway $10.80B
2 Avon $8.9B
3 Herbalife $5.0B
4 Mary Kay $4.0B
5 Tupperware $2.60B
6 Nu Skin $2.57B
7 Ambit Energy $1.50B
8 Primerica $1.34B
9 Stream Energy $918M
10 Shaklee $844M

Click here to see the rest of the DSN North America 50 List.