The corporate
wellness programs find success in proper execution of the plan, where
employee’s active participation is a key factor and
companies must implement corporate wellness programs as a long term
process for better results.This research report analyzes this market
on the basis of its market segments, major geographies, and current
market trends.
Sedentary lifestyle
of most of the corporate employees have added to the coverall pool of
individuals suffering from hypertension, obesity, depression and
other diseases such as diabetes, and cardiovascular diseases.
Indirectly this has increased expenses for the corporations, as
companies have to spend more on human resource management. To tackle
the problem, corporate wellness initiatives are taken by companies to
improve and maintain the health of employees. These programs help
companies in many ways in reducing attrition rate and increasing
productivity. Company profits are negatively affected by reduced
productivity as a result of absenteeism. This can be prevented
through a various measures to improve employee wellbeing. Regular
fitness activities also motivate employees at work place and helps in
reducing the overall healthcare costs. Workplace is also an important
destination for increasing health awareness as employees spend most
of their time at work. Consistent rise in the healthcare costs and
discounts offered for employees participating in wellness programs,
increased demand for corporate wellness services. Corporate wellness
industry primarily involves fitness consultants, nutrition
consultants, psychological therapists, and organizations who offer
all the aforementioned services under a single roof.
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the full Corporate Wellness
Market Report
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Government
initiatives in mandating companies to implement well programs for
employees will boost the market growth. In the U.S., with recent
reforms in the Affordable Care Act increased the cap on incentives
granted to employees for participating in health related wellness
programs from 20% to 30% of the total cost. Such reforms will
motivate employees to actively participate in the corporate wellness
programs. Employee retention is also major issues corporate across
the globe are facing today. Implementing corporate wellness programs
will help in retaining valuable human resource as it increases
employee satisfaction and motivates employees to perform better.
Earlier corporate
wellness programs were implemented in larger organizations, which had
the funds to implement such policies. But with increasing adoption of
the programs in smaller organizations, the market is expected to
propel at a faster rate in the future. Increasing industrialization
in developing counties will also support the market growth. Employers
are now committed to improving health of their employees. Corporates
are conducting lifestyle coaching, biometric screenings; and are also
encouraging service providers to synchronize hospital care as well.
Companies are also looking forward to implement evidence based
treatment schemes for employees. Corporate wellness programs are thus
emerging as a routine employer sponsored initiative for health
improvement of employees.
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The corporate
wellness programs find success in proper execution of the plan, where
employee’s active participation is a key factor and companies must
implement corporate wellness programs as a long term process for
better results. Proper education and awareness for the wellness
programs is necessary for its effective implementation. Currently
major restraint for the corporate wellness market is the inefficient
execution of plan which has ultimately resulted to increased costs
for the companies. Employers need to discover efficient and effective
models to implement the wellness programs. Although reward based
approach has been successful in many organizations, better models
beneficial to employers as well as employees will ensure deeper
market penetration.
Although North
America and European companies have tried and tested the concept of
corporate wellness, the market especially hold potential in Asia
Pacific region. Being an emerging market, global companies are trying
to build their hold in these regions. Thus increasing
industrialization will increase scope of corporate wellness programs.
Some of the players in the corporate wellness market include
Corporate Wellness Solutions, Trotter Wellness, GCC Group, FitLinxx,
Provant Health Solutions and many others. Fitbit, an activity monitor
manufacturer has also expanded its business for providing corporate
wellness solutions.
This research report
analyzes this market on the basis of its market segments, major
geographies, and current market trends.
Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This report
provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a
complete study of current trends in the market, industry growth
drivers, and restraints. It provides market projections for the
coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
Reasons for
Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
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