When one wants to expand a business through an MLM plan or when one wants to join a leading MLM company for extra income, one would need information on the latest top MLM companies in the world. This will give them information about what makes these MLM companies successful and what are their compensation plans.
MLM (multi-level-marketing) plans are best when one wants to augment their income or improve their savings. Also, a business can reach greater levels of success if it follows any MLM model. An MLM plan in business ensures that your product reaches new people in a cost-effective way. A company will increase its product sales if it has a well-thought MLM plan that has a good compensation plan to pay to its distributors.
Let us see the top 5 MLM companies in the world-
Sales: US $ 8.4 billion in 2019
Amway Corporation, a Michigan-based MLM company became a household name in the US by selling a vast product line including home and personal care products, dietary supplements, and electronics. Its distributors are paid commissions on the sale of products and also on recruiting new members to its direct-selling model.
Amway was established in the year 1959 by Jay Van Andel and Richard DeVos as American Way Association (Amway). Its first product was a concentrated liquid organic cleaner. Since then, it has established its presence in over 100 countries.
The Amway products are not available in stores. They have to be purchased from distributors. Amway has earned a name for itself because of the quality of its products and its presence worldwide. 52% of its total sales were in nutrition and wellness products and 26% in beauty and personal care products.
Sales: US $ 8.3 billion in 2020
Market America was founded in 1992 by James Howard Ridinger and his wife Loren Ridinger. James is a former Amway distributor. At present, Market America is headquartered in Greensboro, North Carolina. Its products include household cleaning products, dietary supplements, water purifiers, jewelry, personal care products, financial management and custom websites.
Market America sells many products like auto care, electronics, water filtration systems and oral hygiene through affiliations with other outside companies that advertise and sell these products. The independent distributors are addressed as ‘UnFranchise Business Owners’ and they can also operate their online retail website. The distributors earn money through the sale of products and by bringing in new recruits.
Sales: US $ 5.57 billion in 2019
Avon Products was founded in 1885 by David. H. McConnell and is based in London, United Kingdom. Its main products are cosmetics, clothing and perfume. Initially started in New York, it first sold only perfumes and was registered as California Perfume Company.
Avon sells products in more than 100 countries. It shifted its headquarters to London in 2016. In 2019, Brazilian beauty company Natura purchased a 76% stake in Avon Products making it the world’s fourth-largest beauty company.
Avon Products operates training centers in some cities and they have a small retail section in which they sell skincare products. The main chunk of their profits comes from multi-level marketing in which they recruit Avon ladies and Avon men to do the direct selling of products.
There is ambiguity regarding Market America or Avon Products being the second largest direct-selling company worldwide.
Avon Products has already closed shops in France, Australia and New Zealand. Its sale is continuously dipping since 2014 and now it remains to be seen if the acquisition by Natura will infuse life to it.
Sales: US 4.89 billion as in 2018
Mark. R. Hughes is the founder of Herbalife Nutrition that has its headquarters in California, U.S.A. This multi-level marketing company sells weight management products, dietary supplements, personal care products and sports nutrition. It operates in 100 countries and has a network of independent distributors of about 4.5 million.
Herbalife’s first product was a protein shake, a weight management product. This Formula 1 protein shake is a soy-based meal replacement and even now remains the company’s best-selling product. In the USA, a member can join Herbalife as a member and get a discount on its products or join as a distributor to earn extra income. The members cannot sell products or are not eligible for rewards.
Sales: US $ 2.68 billion as in 2018
Nu Skin Enterprises is an American multi-level marketing company founded in 1984. It sells personal care products and dietary supplements. Its products are sold in more than 50 countries and it has about 1.2 million independent distributors.
It sells personal care products under its Nu Skin brand and dietary supplements under the Pharmanex brand. It also sells antiaging products under the ageLOC brand. It has its head office at Provo, Utah in the United States.
An MLM company succeeds when it has effective management of resources. An automated MLM software/website/app will help in organizing the downline and the payouts. MLM websites and apps help distributors in easy management of their sales and incomes. It also helps for easy communication between the distributors and their team leaders.
If you have any requirement for MLM software/website/app, you can count on us. We have the best website developer and designer who will design websites and apps that will help you in easy management of your MLM business.
The best way to grow your business and increase its brand awareness is to sell it through multi-level marketing (MLM) plan. Also called direct selling or network marketing, this type of plan succeeds when the members have a strong network and use it to join new members in the plan. This way, the products/services get sold and you reach a wide customer base. This MLM plan works when you offer attractive incentives and profits to the members.
Each MLM plan is structured depending on what a business wants to achieve and the product/service that it wants to sell. An MLM has many types. A business may want to achieve more customers, more product sales, target a specific location or group and so on. Based on this, the MLM type is decided.
The reason why MLM business is popular is that it offers a chance of income from top to the bottom of the tree. IN any MLM plan, you join as a distributor under someone. You start to enroll people under you. When the people under you make any sale, a small part of the profit gets distributed among the upline members. If the right people join under you, you are guaranteed a good income from your downline. The people under you also ensure the same and hence everyone is benefitted by it.
There are main 3 types of MLM plans-
The Binary MLM plan follows a tree-structure with two legs, usually termed as the right leg and the left leg. Only 2 people can be recruited directly under a distributor and the remaining goes under the downline. Usually, the two legs in the Binary MLM plan is known as the power leg and profit leg. New recruits are added in the power leg and the tree keeps growing. A new recruit is added to the profit leg to complete the binary structure. The profit compensation is distributed among the upline members.
This is the simplest MLM plan and allows distributors to add unlimited recruits directly below them. The distributor can keep adding newcomers and increase the width of his tree. The commission is distributed up to a fixed depth as previously decided. The process continues and schemes are made attractive by bonuses and incentives after reaching a specific level of frontline depth. This is most preferred for new MLMs as the concept is easy to explain for newcomers.
Also known as the forced matrix plan or the ladder plan, this MLM structure has a fixed width and depth as pre-decided by the company. Since the width is limited, the distributor has to drive more sales from his downline to enable profits. To qualify for the position and the forced matrix bonus in the Matrix MLM plan, the member’s downline team will have to complete their matrix and fill in all the required free positions. This type of plan is usually preferred by businesses that need people to purchase its products only once like RO filter, power bank and so on. Here a repeat purchase is generally not done by the members.
The rest of the MLM plans are derived from these 3 MLM types. A company can select the type of MLM that best suits their product and the business target they want to achieve.
This plan uses 3 child members under a single parent. Similar to the binary plan, a third leg is added usually to the left side here for sales support. During the time of payouts, 3 IDs are required for matching.
This plan is very popular now and is preferred by most of the newly formed MLM companies. It is very similar to the tri-binary plan, but the only difference is that binary matching is not essential to complete the tree. It is also called the X-Up Plan or Step-Up Plan.
This MLM plan grows in depth with recruits added one under the other. Also known as a monoline or linear compensation plan, here the distributor at the top of the hierarchy profits from every new user added downline.
Also known as the revolving matrix plan or the recycled matrix MLM plan, this constitutes a board with a member limit set by the company. The role of the member is to recruit other members in the downline. When the matrix is complete, the board is divided and the member now has to recruit new members to complete the new board matrix. He gets a commission for the completed board and has to pay to join the new matrix.
Also named as the Crowdfunding MLM, Donation Plan, Money Order/Cash Order Plan or the Help/Helping Plan, this is a give and take plan. A distributor receives help from his network/downline in the form of donations when needed. Or a distributor sends a gift directly to one member and receives gifts from many other members. So, some of the members receive multiple gift receipts from others. This is beneficial for people who lack financial resources for maybe initial startup, business diversification or some other purpose. In turn, when other distributors need money, all other distributors have to pool the money so that they help him. The Gift MLM plan is considered illegal in some countries.
In this plan, members recharge other people’s SIMs and DTHs. The bonus or incentive is received when a set number of transactions are completed. You also add new recruits to increase the network.
One of the popular MLM plans, the generation plan is also referred to as the repurchase plan or the gap commission plan. This involves the generation structure or the levels and members earn a certain income either on level completion or rank achievement. The level completion bonus is when a certain level in the tree structure is completed. The rank bonus is based on your performance and is mainly associated with how active your downline team is. The FMCG products generally follow the Generation MLM plan.
In a party MLM plan, the products/services are marketed through the arrangement of gatherings, parties, and social events. The host conducts the party inviting his family and friends and pitches the products to them.
The Hybrid MLM plan is a combination of two or more plans adapted to suit the business strategy and growth. Usually, the uni-level and binary MLM plans are combined to extract the strengths of both the plans.
This MLM plan also called the Stair Step Breakaway Compensation MLM Plan is based on a pre-decided volume of sales target that forms a step. When the distributor, with the downline team, completes the target/step, he is promoted to the next step or the higher level. The compensation is paid when the set target is complete. In this MLM plan, all strive for higher sales and better profits. While you move higher in the network, you better your income. Finally, those who earn higher or reach a threshold, breakaway and form part of another group within the MLM that aims for much higher income.
An MLM works well for businesses that lag behind in networking resources. MLM helps them to broaden their network and join new customers with the help of others. It also augments the income of its members.
An MLM works best when you manage the MLM tree structure and the payouts efficiently. The MLM software including the website and the app helps businesses to manage their MLM effectively. It fastens the calculations and helps in payout and member management.
If you are interested in MLM software, select the best MLM software development company near you that will design the software/website/app as per your MLM business requirement. After all, good MLM software will help you manage and increase your profits.
A comprehensive HRMS software must have important modules incorporated in it so that human resource management becomes an easy and hassle-free process. Let us go in detail about the various modules and their features.
The recruitment module unburdens the task of HR by automating and managing the recruitment and staffing operations of the enterprise. Tasks like interviewing, scheduling, and tracking can be done easily in a hassle-free way. This includes the following features-
Create and post hiring advertisements on different job boards
Manage and sort resumes
Application tracking system
Easy data entry management
Managing candidate information helps the enterprise to create a talent database and use it when a future vacancy arises.
Employee induction showcases your enterprise culture and you need it to be perfect so that the new employees feel at ease during the initial days at the organization.
The joining module includes the onboarding process so that both the new employee and the staff are familiarized with each other. This feature includes-
Preparation for the candidate inclusion
Employee login and access to the HRMS software
Important details are delivered to the new employee
Digital cross-department introduction
Maintain complete lifecycle of the employee
The leave management module helps to manage leaves of employees so that any confusion is erased and transparency is maintained.
This includes a leave request application and its approval, including the status of leave application. This module is customized as per the company leave policy. The request and approval systems are streamlined. Only the outcome is incorporated in the team calendar of the dashboard. Some of the features are-
Allocation, booking, approval, tracking, and monitoring the absence of employees.
Information on leave balance and time-off
Sorting of leave types as predefined by the company leave policy
Online leave and time-off application and grant status
Automatic calculation of leave balance
Tracking leave history
The Attendance Module facilitates the accurate calculation of working hours thus enabling better timekeeping. With this, timesheet errors are negated and payroll computation becomes easy.
Instant integration of digital attendance readers
Time clock management
Late coming fines, early go policy, extra time bonus.
Information links to payroll and accounting software
Define and manage break rules
Accessible through cellphone
This performance appraisal module contains tools to manage peer, subordinate, customer, manager appraisals and self-appraisals. The manager can amend open appraisals and add new ones. He can view an employee’s appraisal history. He can track and analyze the performance of the team. This module automates the appraisal process and tracks the target completion. The features of this module are-
Performance feedback from all stakeholders
Scheduling of appraisal meetings
Review and feedback management
Individual employee review system
Insight and analysis of employee competence
Setting and managing goals
This module facilitates prioritizing tasks for effective work management of projects. Task sheets can be created, tracked and analyzed. Managers allot day-to-day or timeline tasks to employees. The module will show the status of the task.
Project or board creation as per the task
Configure tasks at different stages
Include employees and timesheet
Manage task allocation
Record task details with time
Analyze the task sheet
Ticket management involves solving customer grievances using advanced reporting functionalities and cross-functional collaboration to create personalized user-experiences. This module follows a step-by-step procedure to resolve the customer query.
Complete ticket tracking management
View request details and history
Advanced search features
Identify and delete unused & outdated queries in bulk.
The employee resignation and termination module make the employee exit process easy and simple. The notice period details will also be included. The off-boarding process of an employee is made systematic through this module. The concerned higher authorities have the right to approve or reject the submitted resignation request.
Resignation submission and approval
Automatic calculation of employee notice periods
No-dues certificate approval from the required departments
The payroll management solution provides for quick and accurate processing of employee salary registers. It is about processing all the financial records of salaries for an employee. Apart from salary details, the payroll management module will include features to manage-
Claim & reimbursement
Loan & advanced salary
Income tax deduction & compliance
Find information regarding statutory reports like PF, professional tax, Form 16B, ESIC, and more.
This includes details about the hierarchy structure of the company including the reporting lines. This module helps you to set up a primary reporting hierarchy in your enterprise that reflects the reporting lines.
Maintain and manage the team hierarchy and reporting lines
Find employees who report to a particular manager
Database management is all about organizing and managing employee information. The database contains employee details, documents, and reports. This management control is given to a selected few.
Maintain and track employee details in a central database
Saves storage space by minimizing duplicate entries and redundancies.
For organizations that work on the shift system, the employee rotation management feature helps in assigning and managing employee rosters for shifts. This module is for better utilization of the workforce and thus to manage manpower and costs efficiently.
Detailed roster plan with an employee list
Manage work time, area of work, pay as per shifts, time of shift.
Forecasting of employee requirements
Assigning shifts and allocating employees to each shift
A learning management module improves productivity by identifying and providing relevant training. This module produces training plans for the employees including the managers. The individual training plans whether in-office or with third parties is managed through this module.
Setting up training schedules like participants, trainers, training plans, timesheets, and calendars.
Integration with performance management module
Manage courses and topics for training
HRMS software is meant to fully automate HR tasks. So do not settle for less when you plan to purchase it. Get a comprehensive HRMS software designed from a good software company so that the returns are worth the money invested in it.
Before we straight away start with the 10 top HRMS benefits, let us know why enterprises need to have it in the first place.
Are you tired of manually managing employee data? Managing employees in an organization is not an easy task. You are sure to agree on it.
The issue is everywhere. Let us not limit it to big organizations. Small organizations make do with manual employee data management. But as the company grows, so does the number of employees. Here, if employee management is not done efficiently there are chances that it will affect productivity and the business suffers.
To ease the task of HR personnel, businesses need to invest in good Human Resource Management System software (HRMS software). This is nothing but organized management of payrolls, attendance, and other day-to-day activities all done through the system without the need for paperwork. In short, it is automated payroll software and the attendance management system all rolled into one.
1. An efficient HRMS software reduces the task of HR personnel.
2. It standardizes processes and reduces paperwork.
3. It speeds up work by saving time, effort, and resources.
4. It gives an insight into employee productivity, employee management, project management, and efficiency of the workplace.
5. It makes employee management easy by automating hiring, payroll, leave, allocation of resources, timeline and training.
6. It makes the employees aware of the company structure, pay details, leave details, and hierarchy.
7. Automating HR tasks reduces human error in entries and task management.
8. Though the initial investment is high for HRMS software, the company recovers the cost soon.
9. HRMS software ensures the protection of employee data.
10. It offers privacy to the management on matters where secrecy is needed like payroll management, performance appraisal, etc.
A comprehensive HRMS software should incorporate all the below system into one package.
The other modules in this are rotational (shift) management, organizational hierarchy, and training and development module.
We have enlisted the 10 top HRMS software benefits. If you are interested in efficient HRMS software for your enterprise, get in touch with us today. See the difference in having an organized HR management today!