As the corporate wellness market is growing, employers are looking for different ways to expand their workplace benefits packages and employee wellness solutions. As many studies have proven the role of corporate wellness programs in improving workplace productivity and business revenue, employers and wellness companies are looking for effective strategies to grow their business while having an advantageous competitive edge in the market.
Ideally, well-planned successful corporate wellness programs are those that are –
Engaging – When the workforce is eager to participate in the wellness challenges and activities, the employee engagement rates are high, reflecting the success of the programs. They are usually, fun and customized to meet the specific health and wellbeing needs of the workforce.
Calculable – To know the progress and effectiveness of the employee wellness programs, the outcomes must be measurable. Be it VOI or ROI, there must be some relevant and calculable indicators that can help understand the results and know where to make any changes.
Contemporary – As health and wellbeing trends are evolving, the employee wellbeing programs must also expand. The programs must be flexible and scalable to accommodate modern technology and modules.
Apart from having these 3 key features, successful employee wellbeing programs must also bring in the desired outcomes and revenue. To make sure the programs grow revenue, these pointers must be considered as well –
Figure out Your Wellness Program’s Business Model
With the corporate wellness market booming rapidly, it is necessary to access your business model to stay on top of the charts.
- Are your services meeting the client’s demands?
- Do your programs support the key wellbeing components?
- Is your pricing fair enough for the services you provide?
- Are you making a consistent profit?
- Are you aware of the shortcomings of the corporate wellness industry and client needs?
When you have a proper business model that can be used to determine the fair cost and the effective services range, you will have enough insight to build the right employee wellness programs. While health and wellbeing is a priority, profits are also crucial.
Marketing Your Business and Wellness Services
Unless people are aware of your business and its services, they cannot avail of them. Although many employee wellness program providers are cropping up rapidly, not many are doing enough to market their operations. Though the health and wellbeing companies may not be pioneers in marketing, it is helpful to have a marketing expert on the team, along with access to some advanced marketing tools and services to spread the word about your business. With the right promotions and marketing skills, businesses can upsell their services to the right client, thus, building revenue.
Offer Exceptional Wellbeing Program Modules
Until the last decade, many employee wellbeing programs were offering traditional features and modules like health assessments, screenings, and wellness challenges focusing primarily on physical health. However, with the evolving health and wellbeing trends, the features and offerings must also expand. The modern employee wellbeing programs must be flexible in supporting many other advanced features and modules like –
- Holistic wellness challenges
- Health coaching
- Rewards and Incentives
- Devices and Apps integration
- Online educational interventions
Apart from offering the trending corporate wellness features, the wellbeing programs must also support specific health and wellbeing requirements of the clients, like financial assessments, mindfulness support, nutrition coaching, and likewise. Also, the wellbeing programs must be delivered through a well-designed corporate wellness platform and wellbeing app with easy access. Supporting multiple languages and services, the program must be capable of broadening your horizons across the globe.
Customization of Corporate Wellbeing Programs
Personalized activities and actions are more effective than the one-size-fits-all approach. For example, offering smoking cessation programs to a majority of the non-smoking group will not be of much use. So, personalized programs that are customized to meet the specific health and wellbeing needs of your workforce are essential to make revenue.
All employees are different, and so will be their health and wellbeing needs. Similarly, all organizations have different workplace cultures that vary from each other. Corporate wellness programs must align with the workplace culture policies and employee wellbeing requirements to ensure its success. This can be possible when the program modules and features are tailored to meet the specific needs of the workplace, employees, and third-party vendors.
Implementing these strategies can help in improving employee engagement of the corporate wellness programs, reflecting higher success rates and better revenue. However, it may seem overwhelming to have them all going on at once. Seek guidance from a proper consultant or employee wellness program provider to make it easier for you.