In our pandemic-driven world, well-being is a top priority for all of us. As we, in our individual capacity, seek solutions to nurture our bodies and mind in the corporate world, organisations are increasingly looking for holistic ways to nurture their workforce. Corporate wellness as an industry is also growing rapidly in the post-pandemic world, as a market research report touts growth at 8.37% CAGR—suggesting that the industry will capture a market size of USD 104.9 billion (worldwide) by 2030.
While the pandemic has been a major driving force behind the rising demand for corporate wellness programs, the truth is that enterprises are also clearly seeing value in the productivity-enhancing benefits of such interventions. But what does this mean for the world of corporate wellness in India in 2023, where such programs are evolving from just being an HR mandate to a necessity to motivate people and bolster employee retention? Well, here are my predictions on the trends that will dominate the sector in the New Year:
Solutions backed by data and devices
Modern-day corporate wellness programmes are rooted in data. The need for data-driven solutions are only going to rise in 2023, as organisations look to create impact through the wellness solutions they invest in. Thus, scientific evidence—and not anecdotal data—will be at the core of successful wellness programs.
Since devices play a big role in data gathering, they will lay at the heart of programmes. From metabolic data to sleep data—biomarkers based on the tenets of a healthy lifestyle will be used to craft solutions that target performance, focus, and productivity.
Custom-made wellness programmes are the future
By basing wellness programs on data and devices, solution providers are already paving the way for personalised programs. And so, the one-size-fits-all approach will become redundant. Personalisation and customisation in wellness programs will be in demand, especially since they lead to more effective solutions that can drive job satisfaction, employee retention, and productivity—results that enterprises desperately want from their investment.
An integrative approach to wellness will seize the day
Holistic health is truly the need of the hour. Increasingly in 2023, programs will have to factor in the overall well-being of the people they cater to. Both physical and mental health will be on the forefront of these programs, with integrative solutions that take cues from allopathy, naturopathy, Ayurveda, and other alternative medicine systems.
Corporate wellness will become all-encompassing as it helps to empower employees to be the best they can be in all spheres of their lives and not just work.
Work culture is evolving; corporate wellness must too
Today’s workforce has diverse needs. As young Gen Z infiltrates the talent pool across the globe, bringing in expectations of work-life balance, mental health awareness, and the need for professional boundaries—the millennial workforce is slowly but surely dominating the top brass, changing the rules of the game. Flexible working hours, hybrid working models, and positive workplace culture are now the requirements of this eclectic mix of professionals. And so, enterprises are no longer looking for band-aid solutions that can be labeled as wellness interventions and applied annually.
Engaging wellbeing programmes that take into consideration the professional and personal needs of today’s workforce, across generations and cohort levels, is what corporations want. And solution providers will need to provide exactly that to stay in the game in 2023.