Employee-Centric Programs to Revolutionize Corporate Wellness Market by 2023 | Arizton

The epidemic levels of stress and depression are propelling the growth of the global corporate wellness market. Corporate wellness programs are a combination of screening activities and interventions. Screening activities mostly constitute a collection of biometric data, which is then used to plan and evaluate wellness programs. The programs are classified into primary and secondary interventions that cover the gamut of healthcare from prevention to disease management. There are also programs such as health education services that facilitate promotion of a healthy lifestyle in a bid to keep employees in good physical and mental shape. These programs are doled out as single interventions or multi-component programs. Related benefits provided either by employers, group health plans, corporate wellness vendors, or as a mix.

A recent research by Arizton states that the corporate wellness market in the US is anticipated to generate revenues of around $13 billion by 2023, growing at a CAGR of around 8% by 2018-2023.

Read the full report on Corporate Wellness Market in US – Industry Outlook and Forecast 2018-2023
https://www.arizton.com/market-reports/us-corporate-wellness-market

The different programs available in the corporate wellness market are:

Corporate Health and Risk Assessment (HRA)

HRAs typically constitute questionnaires that are used to identify high-risk behaviors. The HRA participation in sync with health insurance premiums is a growing trend in the corporate wellness market. A majority of employers that offer HRAs are using incentives for HRA completions and participation in biometric screenings, and physical activity programs. The extensive use of biometric screening is increasingly becoming a large part of the process to fill gaps and errors that these assessments might give rise to such situations. Vendors in the market working on making HRA programs more effective by integration with other methods and customization wherein the administrator can assess the issues, what incentives might work with the employee and provide the opportunity to address workplace ergonomic concerns, among other benefits.

Corporate Nutrition and Weight Management

The high prevalence of obesity, diabetes, high cholesterol, stroke, anxiety hypertension, depression, and a general decreased sense of well-being, have a huge negative effect on business’s bottom line. These factors have largely incited employers to offer nutrition and weight management programs in the global corporate wellness market. The increase in a number of partnerships with technology providers, yoga teachers, life coaches, and doctors to promote healthier lifestyles will augment the growth of the global market. Biometric testing programs are conducted from time to time to measures employees’ sugar and cholesterol levels. Also, AMA employees can track their activities and earn points through a portal online for healthy-lifestyle habits such as visiting a physician or not smoking.

Corporate Smoking Cessation

The loss of productivity, due to premature death and sick leaves is encouraging employers to hike up their wellness offerings in the corporate wellness market. Smoking cessation programs have immense potential in terms of helping employees adopt healthier lifestyles and cut down on healthcare costs. These programs are designed to enable intense and frequent contacts with wellness coaches. The combination of regular interaction sessions with nicotine replacement therapy are being leveraged by companies as they have high success rates regarding quitting. These novel programs are customized to each employee’s unique requirements and inclination to change. Employers are contributing to this wellness initiative by focusing on improving indoor air quality by creating 100% tobacco-free zones within the premises.

Corporate Fitness Services

The increased focus on lifestyle adjustments within the office space and outside is propelling demand for corporate fitness programs in the corporate wellness market. The corporate offices are adding onsite fitness and recreation centers and add elements of fitness to the office such as a treadmill workstation, dance studios, and bowling alleys. A lot of companies have also built courts and grounds to workout in a team atmosphere. They commonly offer initiatives such as healthy eating boot camps and workshops, group fitness classes, and discounted gym memberships will increase the demand for such programs in the corporate wellness market.

Corporate Alcohol and Drug Rehab

The alcohol and drug rehab corporate wellness programs are geared at battling substance abuse via training of managers to identify the signs of substance abuse, drug testing programs, integration of substance abuse policies, coverage for rehabilitation, and EAPs. The employers are increasingly looking to offer comprehensive health plans that deal with every stage in the treatment of medication, counseling, employee education, and aftercare. Such initiatives will propel the growth of the corporate wellness program market.

Corporate Stress Management

Job-induced stress, extended hours, heavy workloads, and other issues at and outside of work is boosting the adoption of corporate stress management in the corporate wellness market. The leading companies are investing in programs based on a synergistic approach that addresses stress arising from within the organization and personal lives. Stress management programs have for long revolved around the absolute basics such as providing medical insurance, giving employees a regular time off, and offering a discount on a related membership such as yoga classes or gym.

Corporate Health Education Services

Health education is an all-encompassing program that provides general health information regarding lifestyle, nutrition, fitness, preventative care, and total wellbeing to help employees make informed decisions. The corporate wellness market is moving toward collaborative and transformative learning to create a culture of health in the workplace. Bike share programs, walkathons, desk-to-5k races, and other such activities encourage group participation, thereby driving engagement in the corporate wellness market.

Leading players in the corporate wellness market are Compsych, Wellness Corporate Solutions, Virgin Pulse, and Provant Health Solutions.

Read: Leading Segments in the Corporate Wellness Market
https://www.arizton.com/news/press-release/us-corporate-wellness-market-share

Read: Top Trends in the Corporate Wellness Program Market
https://www.arizton.com/news/press-release/corporate-wellness-market-us-market-size-trends

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