Corporate wellness programmes
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Corporate lifestyle, defined by a hectic pace of living and stressful jobs, can produce a range of health conditions among individuals. Hypertension, diabetes, depression, and cardiovascular diseases are some of the most commonly-seen conditions amongst corporate employees. The sedentary lifestyle of many corporate employees has added to the overall pool of individuals suffering from these conditions.
Not only has the trend of poor and deteriorating health added to corporate costs, it has worsened the productivity of organisations, who, as a result are spending more on corporate wellness solutions for their employees.
These initiatives are aimed at:
- Improving the health status of employees.
- Helping them maintain fitter bodies.
- Helping organisations cut down absenteeism.
- Enhancing productivity.
- Improving employee retention.
Healthcare cost discounts offered to employees participating in wellness programmes has helped to increase the demand for corporate wellness services.
Government initiatives mandating wellness initiatives are also expected to create a significant change in the global market. For instance, the Affordable Care Act in the U.S. raised the incentive cap from 20% to 30% of the total cost that is borne by employees who participate in wellness programmes. Even smaller and medium-sized firms are increasing the adoption of corporate wellness programmes to improve employee satisfaction and to keep them motivated to perform better.
The corporate wellness industry involves fitness consultants, nutrition consultants, psychological therapists, and organisations who offer all services under a single roof.
Some of the larger companies involved in this sector are Corporate Wellness Solutions, Provant Health Solutions, GCC Group, Trotter Wellness, and FitLinxx. Currently, Fitbit, an activity monitor manufacturer, has also started offering corporate wellness solutions. strategies.
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