Introduction
Corporate wellness programs have gained significant attention in the United States in recent years. These programs aim to improve employees’ health and well-being, which can lead to increased productivity and reduced healthcare costs for companies. In this report, we will analyze the industry trends for corporate wellness in the USA for the past 12 months and compare it to the same period five years ago.
Methodology
To conduct our analysis, we reviewed industry reports, news articles, and surveys related to corporate wellness programs in the USA for the past 12 months and compared it to five years ago. We also looked at data from the Bureau of Labor Statistics and other government agencies.
Findings
Our analysis revealed the following trends in the corporate wellness industry in the USA:
Increased Adoption of Corporate Wellness Programs
Over the past 12 months, there has been a significant increase in the adoption of corporate wellness programs. According to a survey conducted by the National Business Group on Health, 82% of large employers in the USA offered a wellness program in 2020, up from 73% in 2019 1. Five years ago, in 2016, a survey by the Society for Human Resource Management found that 70% of employers offered wellness programs, indicating a 12% increase in adoption over the past five years 2.
Focus on Mental Health
Mental health has become a top priority for many corporate wellness programs. The COVID-19 pandemic has had a significant impact on mental health, and many companies have responded by offering resources and support for their employees. According to a survey by Willis Towers Watson, 77% of employers in the USA plan to increase their focus on mental health in their wellness programs in 2021 3. Five years ago, in 2016, a survey by the International Foundation of Employee Benefit Plans found that 73% of employers offered stress management programs, indicating a 4% increase in focus on mental health over the past five years 4.
Emphasis on Virtual Wellness
The COVID-19 pandemic has led to an increased emphasis on virtual wellness programs. With many employees working from home, companies have had to adapt their wellness programs to be accessible online. According to a report by the Health Enhancement Research Organization, 91% of employers in the USA offered virtual wellness programs in 2020, up from 74% in 2019 5. Five years ago, in 2016, a survey by the Society for Human Resource Management found that 59% of employers offered online wellness resources, indicating a 32% increase in the use of virtual wellness programs over the past five years 2.
Increased Investment in Wellness Programs
Companies are investing more in their wellness programs than ever before. According to a report by Fidelity Investments and the National Business Group on Health, the average employer contribution to employee wellness programs was $880 per employee in 2020, up from $762 in 2019 6. Five years ago, in 2016, a survey by the International Foundation of Employee Benefit Plans found that the average employer contribution to wellness programs was $693 per employee, indicating a 27% increase in investment over the past five years 4.
Conclusion
The corporate wellness industry in the USA has seen significant growth and change over the past five years. Companies are increasingly recognizing the benefits of these programs and are investing more in them than ever before. The focus on mental health and virtual wellness is likely to continue in the coming years, as companies adapt to the changing needs of their employees. If your company needs a virtual health and fitness platform for your corporate wellness needs find out more here.
Sources:
- National Business Group on Health. (2020). Large Employers’ 2020 Health Care Strategy and Plan Design Survey. https://www.businessgrouphealth.org/resources/large-employers-2020-health-care-strategy-and-plan-design-survey ↩
- Society for Human Resource Management. (2016). Employee Benefits Survey. https://www.shrm.org/hr-today/trends-and-forecasting/research-and-surveys/pages/2016-employee-benefits.aspx ↩ ↩2
- Willis Towers Watson. (2021). 2021 Emerging Trends in Health Care Survey. https://www.willistowerswatson.com/en-US/Insights/2021/02/2021-emerging-trends-in-health-care-survey ↩
- International Foundation of Employee Benefit Plans. (2016). Workplace Wellness Trends. https://www.ifebp.org/bookstore/workplace-wellness-trends-2016 ↩ ↩2
- Health Enhancement Research Organization. (2020). HERO Scorecard: Best Practices in Workplace Well-being. https://hero-health.org/hero-scorecard/ ↩
- Fidelity Investments and the National Business Group on Health. (2020). 2020 Annual Employer-Sponsored Health and Well-being Survey. https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/press-release/2020-employer-health-and-well-being-survey-press-release-final.pdf ↩
