SALT LAKE CITY, April 16, 2018 (GLOBE NEWSWIRE) -- For the second year running, LifeVantage Corporation (Nasdaq:LFVN) has been recognized among the “Best Places to Work” in the direct selling industry.
“Being a two-time honoree is something we take a great deal of pride in,” said LifeVantage CEO Darren Jensen. “The most gratifying part about this particular recognition is that it’s a reflection of how our employees feel about us as a company, and that’s something we put a lot of stock in.”
Direct Selling News partnered with Quantum Workplace – an HR technology company that has been collecting Best Places to Work data for more than a decade across nearly every industry sector – to measure and analyze the industry’s best places to work, specifically by surveying employees.
Particular weight was placed on employee engagement in the study, which has been a longstanding focus of LifeVantage’s. The company – independent of the Best Places to Work survey – just completed its fifth engagement survey in as many years. The LifeVantage human resources department reviews both the annual and historical data with each department once the results come in each year.
“It helps promote a conversation that really helps us be in tune with our employees,” said LifeVantage Sr. Vice President of Human Resources Michelle Oborn. “These surveys mean a lot to our company, and our employees are very open in them. Anecdotal data is one thing, but having quantifiable and measurable data allows us to continuously improve in an informed way. Our philosophy is that there is a strong correlation between high performance organziations and the level of engagement of their employees.”
When it comes to keeping employees engaged, Oborn said, helping them understand how they personally contribute to the success of the company and helping them feel like their work is valued and appreciated are key.
“We go to great lengths to make sure our employees know what our “why” is and how they specifically dovetail with it,” Jensen said. “Once they undersand that, it has a very powerful impact on their level of engagement and feeling of connectedness.”
The “Best Places to Work” questionairre ranged topicly from whether employees felt valued, had a positive outlook, intention to stay with the company, commitment to their work, and team dynamics to perception of leadership, culture, recognition, professional development, employer-provided benefits, and communication.
Among the perks LifeVantage has become known for over the years include product benefits, 90 percent coverage of insurance premiums (for both employee and their families), a 401k employer match program made available to employees immediately upon hire, gym membership subsidies, tickets to Major League Soccer matches (LifeVantage is the jerseyfront sponsor for MLS’s Real Salt Lake), and an unlimited PTO policy.
“People may think engagement is tied to how many parties or lunches we have, but that’s just window dressing for what our day-to-day culture is,” Jensen said. “It’s taking the time to give real thought to what the meaningful things are for your employee base.”
From a methodology standpoint, employees of nominated companies were asked to complete an online survey designed, in particular, to measure workplace engagement, which has been linked to better employee retention, higher productivity and more profit. A certain percentage of employees at each company, based on size, had to complete the survey in order for the company to reach the threshold to be considered. Responses were then compiled and evaluated, and companies were ranked based on their overall engagement score. Any direct selling company with a minimum of 40 full-time employees based in North America was eligible.
About LifeVantage Corporation
LifeVantage Corporation (Nasdaq:LFVN) is a pioneer in Nutrigenomics – a new science dedicated to biohacking the human aging code. The company is engaged in the identification, research, development and distribution of advanced nutraceutical dietary supplements and skin care products, including Protandim®, a line of scientifically-validated dietary supplements; TrueScience®, a line of Nrf2 infused skin care products; Petandim™ for Dogs, a companion pet supplement formulated to combat oxidative stress in dogs; Axio® Smart Energy Drink mixes; PhysIQ™, a Smart Weight Management System; and Omega+, a 3-in-1 fish oil supplement. LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah. For more information, visit www.lifevantage.com.
Media Relations Contact:
Director of Communications
Source: LifeVantage Corporation