As wellness and prevention swiftly become the No. 1 driving force behind employer-sponsored health benefits, you may have noticed that the wellness industry is expanding—exploding, really—in turn. This trend is creating a tougher challenge for corporate leaders, who are seeking to successfully navigate a fast-moving market with a hefty array of services.
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Exact numbers are hard to come by, but reliable estimates now peg the size and scope of the employer wellness industry in the billions—with hundreds of vendors and providers making up a high-growth market.
“Corporate Wellness Services in the US: Market Research Report,” a 2016 analysis by IBISWorld, gives one measure: It describes an $8 billion industry of 549 companies that’s experienced robust growth over the past 5 years, as many businesses purchased wellness programs to help lower healthcare costs. During the next 5 years, researchers forecast increasingly brisk growth, as many companies look to increase the scope of their existing wellness programs.
So how can you feel more confident in navigating the crowded field of wellness providers and health promotion programs? According to wellness experts, health promotion researchers, and HR and benefits leaders, common themes and advice emerge about the best ways to narrow market choices and make sound decisions.
Today’s Leadership Daily Advisor outlines the first three of our six advice points to follow when mapping out your company’s wellness strategy.
Assess your needs first, and then research the best vendor—not the other way around. The message: Don’t be swayed by what looks good but might not be what your company really needs. Start by examining the biggest health risks in your overall employee population—the ones that cost the most in medical claims and productivity.
Health risk appraisals, for example, can identify prevalent risk factors, and claims analysis from your company’s healthcare provider can add to that information. Look at group data you collect from screenings, too. And consider your demographics—an employee group that includes many young women may benefit from prenatal care education, while an aging workforce may need heart health interventions. Types of jobs, stress levels, and physical requirements also may play into program choices.
Ask your employees. The reason: It’s simply one of the easiest and least expensive things you can do, and it naturally builds participation in your wellness focus.
At online apparel and footwear retailer Zappos.com, in Henderson, Nevada, for example, employees always have a say in the company’s wellness program plans, including specific types of on-site classes they would like to see offered—such as yoga and cardiopulmonary resuscitation (CPR), which have been popular requests.
Narrow the field with accreditation and certification. To keep your focus on quality, get acquainted with these top organizations and their research programs that are excelling in evaluating wellness vendors and health plans:
- The National Committee for Quality Assurance’s (NCQA) Wellness & Health Promotion Accreditation program
- The Health Enhancement Research Organization’s (HERO) Employee Health Management Best Practices Scorecard
- The National Business Group on Health’s Wellness Impact Scorecard
- Wellness Councils of America’s benchmarking data
In tomorrow’s Advisor, we’ll continue with three more tactics.