A precarious economic landscape has compelled Virtuoso to roll out a new benefits model for all its members—a move to help both agents and preferred suppliers weather the recessionary storm. The organization is investing in its members by offering credits for preferred supplier production and full cash participation in network overrides. Virtuoso says it made it a point to listen to its membership; they helped design the benefits model, which puts more cash and credits in the agents’ hands.
Though the bulk of benefits don’t kick into high gear until 2010, Virtuoso isn’t waiting until the calendar year turns over. On July 1, it issued members immediate dollar credits for a percentage of their 2008 sales production with participating preferred suppliers. Beginning January 2010, members will receive dollar credits for a percentage of their 2009 production for all participating cruise, tour and on-site suppliers. Virtuoso will match every dollar a member invests in network marketing, meeting registration, training or membership fees, up to the earned credit amount. In addition, it will allocate an additional percentage of production credit for any incremental year-over-year production growth for participating preferred suppliers. When it comes to overrides, Virtuoso will pay an unprecedented 100 percent of all supplier bonuses directly to all members that show production for that supplier.
The new model had been in discussion for some time and has already been lauded and welcomed by Virtuoso’s members.