“Employees see health and wellness offerings as a mark of progressive employers,” HR Executive Jack Kluepfel, said. “Attractive employers, employers of choice, offer opportunities for people to engage in their health.”
And companies are doing just that – engaging in the health of their employees and offering programs that promote wellbeing in and out of the workplace. This mindset has exploded within the industry. Politico recently quoted the corporate wellness and wellbeing industry to be worth nearly $8 billion in the United States and projected to grow nearly eight percent in the next five years.
But where will that growth come from?
Fast Company’s Gwen Moran answered that question in a recent article. The first item on the list? Data integration.
“The biggest driver of wellness programs will be data integration,” says Moran, paraphrasing an interview with Edward Buckley, founder of employee fitness center company Peerfit. “Software platforms, wearables, and other data sources have the potential to deliver important insights into the wellness program options that make a difference and are important to employees.”
Data’s rise, alongside growth in wellbeing program areas like financial wellness programming, customization and family care, is shaping the future.
“Data, combined with increased insight into the benefits employees need and use, will streamline programs and help them be more effective, which can increase their credibility,” says Joyce Odidison, leadership and life coach company founder, as quoted in Fast Company. “At the same time, that data will help organizations create more holistic approaches to wellness… Helping employees get the help they need.”
If you’re trying to keep up with the ever-growing wellbeing industry, you may be struggling with fragmented vendor solutions for employee engagement, wellness, data integration and more.
Our HealthSpective platform combines employee engagement with industry-leading data to provide a full-circle solution to stay up to date with the industry and, most importantly, elevate your population health. Learn more here.