The Corporate Wellness Industry is Booming
Here’s why it’s crucial for employers to take notice
Happy employees are productive employees.
A fact that the booming corporate wellness industry supports. Today’s workforce is looking for more work/life balance, they say.
Millennials, Gen Zs, and others want to work for a company that understands that their mental health is a priority. It’s time to make way for a new generation of employees, the experts say, for whom wellness programs are not just a perk, but a necessity.
In fact, recent research tells us that not only are happy employees better workers, but they get sick less and are less likely to leave their jobs.
With that knowledge in mind, more and more companies are adding corporate wellness programs to their list of benefits.
By working to improve the physical and emotional well-being of employees, corporate wellness programs represent a newer, kinder, and more effective corporate culture.
But again, it’s not all love and light. It’s also about the bottom line.
The American Psychological Review, a scientific journal, states that high-stress workplaces have 50% more health care expenditures, and a study by Oxford University concludes that happier employees perform at a higher level, driving more sales.
Thus, the evidence for providing mindful tools to increase workforce happiness and thereby productivity is strong.
And for businesses who want to attract today’s selective job candidates, offering benefits like mindset management workshops, subsidized gym memberships, weight loss programs, and on-call mental health professionals helps them stand out.
According to Verified Market Research, the Global Corporate Wellness Solutions Market size is already valued at close to $60 Billion and is projected to reach $ 110 Billion by 2028.
Those are numbers that can’t be denied.
Companies that don’t get on board with making employee wellness a prime concern are likely to be left behind.
Modern employers should sponsor wellness workshops that tailor to their business, according to corporate wellness experts.
Different workplaces have different sources of stress.
For example, when offering a mindset management workshop for a chain of funeral homes, the focus might be on finding joy in grief. When designing a workshop for a busy television newsroom, the focus might be on calming breaths.
For employers, it’s vital that they be aware and recognize what their employees are going through. Employers can then offer opportunities for employees and employers to be actively engaged in helping the work culture be a positive one.
Because when management takes the time to encourage positivity in the workplace, experts say, there will be a ripple effect. Employees will follow.
In addition, the growing prevalence of chronic diseases across the globe is boosting the overall corporate wellness market.
According to the National Center for Chronic Disease Prevention and Health Promotion, corporate health initiatives have the potential to influence good health decisions in the more than 150 million employees in the United States, which can lower healthcare costs significantly.
Many corporate wellness programs target chronic conditions that are easily addressable, saving lives, reducing pain, and cutting costs.
And as our culture moves forward, awareness of the importance of health and well-being is likely to grow.
Corporate wellness programs will continue to have a positive impact on the overall organizational culture of corporations while also benefiting the home and personal lives of employees.
Because happier and healthier employees make for happier and healthier fathers, mothers, brothers, sisters, and friends.
About the Author
Diana Klurfeld has been in the health care industry for well over decade in NYC. She and her husband, Alex Klurfeld, are calling attention to its shortcomings. During her time in the healthcare industry, Diana and Alex have had the opportunity to work alongside of some of the best health care administrators and doctors in the country.