A Closer Look at Corporate Wellness Companies

Discover how today’s leading companies are investing in employee wellbeing through innovative programs and solutions offered by Wellness360 and others. Build a stronger, more resilient workforce and unlock the potential for a thriving workplace culture.

Corporate Wellness Companies

Employee health and wellbeing have become a crucial and integral part of every business, and so, corporate wellness companies have been busier than ever. With the workforce facing new challenges since the pandemic and workplaces suffering from economic disruption, the future of work is not going to be the same as in the pre-pandemic times.

Apart from the economic and workflow disruptions, employee health and wellbeing have also been disrupted. Unfortunately, this has affected employee engagement and workplace productivity, adding to the woes of organizations. To overcome these issues, companies are implementing employee wellness programs to improve wellbeing, which in turn, reflects better productivity.

The right wellness technology companies improve employee health and wellbeing, reflecting better workplace productivity and business growth.

How Employee Wellbeing Impacts Businesses?

Since 2020, plenty of studies have shown that the pandemic has adversely affected employee wellbeing in many ways. A survey conducted by American Psychological Association (APA) clearly gave a warning about the impact of the COVID-19 pandemic on the physical and mental health of the workforce.
  • Almost 42% had unexpected weight gain. According to the CDC, overweight people are at a higher risk of acquiring chronic health diseases.
  • Around 48% of working parents reported skyrocketing stress levels.
  • 53% of the US adults said they had little or no physical activity during the pandemic.
  • 47% of Americans delayed or postponed their regular healthcare services during the pandemic.
Statista publishing showed 58% of working employees suffered from moderate stress levels in 2020. Around 59% of Millennials and 58% of Gen Z experienced burnout feelings in 2021.

All these factors have impacted overall employee wellbeing.

It is evident that happy and healthy employees are engaged and productive. On the other hand, a workforce that is not happy or healthy is disengaged and loses focus at work, increasing absenteeism, presenteeism, and turnover rates, thus reducing productivity. Also, poor health and wellbeing can lead to higher chances of acquiring chronic health diseases or hospitalizations, increasing healthcare claims. With healthcare costs skyrocketing, it can impact business profits and ROI.

How Employee Wellness Programs Can Help?

According to a 2021 Statista publishing, around 79% of the respondents reported that their employee wellness programs improved their workplace productivity. Also, 79% said these workplace programs improved their overall health and wellbeing, reducing sickness and absenteeism rates.

An NCBI study also reported that 60% of an individual’s quality of life depends on their lifestyle. The study also revealed that their behavioral patterns were related to their premature death possibilities. A CDC report showed that around 90% of the total annual $3.8 trillion that is spent towards healthcare expenses is due to deferred or accumulated chronic health conditions. The American College of Lifestyle Medicine suggested that following a healthy lifestyle for just 6 months could save nearly $92,000 by avoiding medical expenses.

Fortunately, workplace wellness programs can come in handy to overcome these issues.

Modern comprehensive workplace programs focus on holistic health dimensions, including financial, social, and emotional health. These robust workplace wellness programs also come with different modules to cultivate healthy lifestyle habits. For example, fun wellness challenge ideas can be great employee engagement strategies. Also, offering rewards and incentives through an integral incentive management system can also boost employee engagement.

Many corporate wellness companies are integrating their workplace programs with advancing wellness portal software. This makes the employee wellness portal flexible and scalable to accommodate the latest health and wellbeing trends and gives a competitive edge to the vendor in the market.

So, with the right wellness portal software, suitable wellness challenge ideas, and fitting employee engagement strategies, corporate wellness companies can design a dynamic and engaging workplace program that is a sure shot at success.

Simply put, by implementing the right wellbeing program from a credible wellness technology company, businesses can reap many benefits like –

  • Higher employee engagement
  • Lower absenteeism and presenteeism
  • Reduced healthcare costs
  • Enhanced productivity
  • Better workplace culture
  • Lower turnover rates
  • Higher retention rates

Many studies have proven these theories, and here are a few statistics justifying the same.

  • A Harvard Business Review study showed that for every dollar spent on employee wellness, businesses got back around $2.71 through higher productivity, lower healthcare costs, and reduced absenteeism.
  • Companies saved $3.27 on healthcare costs for every dollar spent on workforce wellbeing.
  • Also, employers saved an average of $5.82 on lower absenteeism rates for every dollar spent on well-designed employee wellness programs.

However, to achieve all these benefits, it takes more than just implementing a wellbeing program. It is crucial a credible wellness vendor is chosen who can understand your company’s specific health and wellness needs, and offer customized modules to suit the requirements.

Choosing the Right Wellness Program Vendors

Employee wellness programs have become a top priority now, and with the rising demand, many corporate wellness companies are blossoming. However, the sudden flourishing of the corporate health and wellness companies is also accompanied by a lot of possible rawness and imperfection. So, the onus of your business’s success lies in choosing the best wellness programs at work and the right vendor.

An effective company health program must have a clear health and wellness plan, goals, and strategies, all of which must be crafted well to ensure a great employee experience and success. With so many small and large wellness technology companies budding the market, employers have a wide array of choices to choose from. Although it may seem easy with so many options around, finding the best fitted vendor for your business needs a lot of attention and scrutinizing.

The first step starts by identifying the specific health and wellbeing needs the workplace. Apart from aligning with the business goals and budget, the wellbeing goals must also cater to workforce interests and capabilities.

Before commencing with choosing the health and wellness vendor, the overall business strategy and program plan must be outlined. Here is a quick checklist that most employers must consider while choosing their health and wellness vendor.

Will it be a voluntary or mandatory program?

A voluntary program helps in building morale and can attract employee attention to participate willingly, reflecting better health and overall value to the program.

Will your program offer rewards and incentives?

Offering rewards and incentives are effective employee engagement strategies. However, employee interests and the company budget must be considered while choosing the incentive programs.

What is the approach to evaluating progress?

Wellness program progress can be broadly evaluated by two approaches – Outcomes-based and Participation-based. Depending on the approach, the best-suited metrics must be considered while assessing the progress.

What is the leadership engagement level?

When the company leadership and management are involved in the program, the workforce will be convinced about the authenticity of the program, thus, driving higher employee engagement.

Once the strategies of the health and wellness program are clearly defined, the next step is to find a vendor who can meet all these requirements, and also design the program modules in best way. A few questions most corporate wellness program vendors are asked include –

  • Is the corporate wellness program vendor a technology expert or wellness specialist?
  • Is the digital wellness platform customizable, gamified, and flexible?
  • Are the program modules and features in line with the latest health and wellness trends?
  • Is the wellness software scalable enough to accommodate new changes and modifications?
  • How proficient is the portal’s data integration efficiency?
  • Does the platform provide real-time reports and analytics?
  • How good is the communication hub and targeted messaging features?
  • Does the portal ensure user data privacy and is it HIPAA compliant?

Employers can shortlist a few suitable and credible vendors and collect all this information about them. The collected data can be evaluated using a wellness program and platform assessment scorecard to make sure employers weigh the vendors and make the right choice.

Although there are many health and wellness vendors in the market, there are always a few that are really good at their job. Here are the top 10 corporate wellness companies that can provide the right solutions to suit the health and wellbeing needs of the workplace.

10 Top Wellness Companies

Sprout is the leading Wellness Engagement Platform, used by progressive companies to improve the health of their employees and their business.

Virgin Pulse is a global health management solution offering a range of platform configurations and supporting services designed to achieve your goals while maintaining your budget.

Wellable operates next-generation wellness challenges and health content technology platforms and complements these solutions with on-site services, such as fitness classes, seminars, health coaching.

Limeade creates immersive well-being solutions for a healthy employee experience. With Limeade, every employee knows their company cares. Limeade’s mission is to improve well-being in the world.

Wellness360 designs its employee wellness programs in line with the rising health demands, and its platform is built using advanced Software-as-a-Service (SaaS) technology. We provide private label comprehensive population health management solutions to Healthcare Providers, Payers, Benefits Brokers, Wellness Companies, and Employers. Our exclusive technology platform is designed to optimize your wellness initiatives with personalized strategies that target specific health risks.

MediKeeper is a technology company that designs customizable portals that allow employers, benefits providers, health plans, and wellness companies to efficiently manage corporate health.

WellRight delivers complete corporate wellness programs that address the six key dimensions of holistic health: physical, emotional, financial, social, occupational, and purpose.

MoveSpring is an online platform allowing anyone, no matter what fitness tracker or smartphone they own, to participate in fitness challenges with friends, family, co-workers to motivate and hold each other accountable to stay active together.

Founded in 2008, Bravo is a national provider of employee well-being solutions that empower personal progress, reduce preventable health risks and reduce the long-term claims trend.

BurnAlong delivers to your employees (and their family members) online personalized wellbeing classes and social motivation.

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