G2 Crowd predicts that in 2019, Corporate wellness initiatives will expand by 40% to provide financial and mental health solutions that boost the physical wellbeing of employees. The expansion couldn’t come at a better time as insurance and healthcare costs skyrocket and mental health is at the forefront of today’s market. A well-designed wellness program can reduce insurance rates, act as an employee benefit and cultivate a culture that emphasizes happiness, health, and positivity. ZM Ventures is equipped to help your business design and implement a wellness program. Contact ZM Ventures to get started.

Corporate Wellness Initiatives Expansion

Prediction: Corporate wellness initiatives that focus on financial and mental health, in addition to physical wellness solutions, will expand by 40% in 2019. Companies will employ financial and mental health solutions to work part and parcel with physical well-being solutions to boost employees health and wellness.

According to a recent survey, only 35% of U.S. employees reported feeling satisfied with their finances in 2017. Thirty-five percent of employees surveyed miss 3–5 days per month as a result of workplace stress, and yet another 85% of workers who have experienced stress at work rate the efforts of their workplace to reduce stress as fair to poor. Investing in employees’ well-being is an essential part of improving employee engagement and promoting a healthy workplace culture.
As we continue to embrace mental health wellness as a necessity and not just a pleasant (after) thought, corporate wellness programs are expanding beyond focusing solely on employees’ physical health. Technology can help companies improve their corporate wellness programs to include financial and mental health well-being solutions. These well-being programs are catered toward improving employee engagement by providing employees the support that they need to be their most present and productive selves.

More than half of American employees are stressed about their finances, and that stress has increased over the past year. Millennials, for example, are the largest working generation and are the most burdened by crippling school loan debt. Meanwhile, the sandwich generation is stretched thin between caring for children and aging parents.

Financial wellness technology, otherwise known as finwelltech, provides solutions for everything related to an employee’s financial health including 401ks, debt, savings, mortgages, earnings, microsavings, and investments. This technology provides a holistic solution to employees looking to manage their finances. From student loan repayment benefits to assisting employees with short-term financial issues, employers are increasingly providing financial education, assistance, and solutions.

To provide a comprehensive corporate wellness solution, businesses will increase their budget allocated to wellness, focus on integrating solutions to improve employee access, and embrace digital solutions. Businesses will focus on emotional well-being initiatives including offering stress management workshops, providing meditation rooms, and focusing on mindfulness and work-life integration. Companies will also have the option of using wellness apps to better promote and deliver these solutions to all of their employees.

These solutions not only work to reduce employee burnout but provide employees with a holistic wellness solution, businesses will increase their budget allocated to wellness, focus on integrating solutions to improve employee access, and embrace digital solutions. Businesses will focus on emotional well-being initiatives including offering stress management workshops, providing meditation rooms, and focusing on mindfulness and work-life integration. Companies will also have the option of using wellness apps to better promote and deliver these solutions to all of their employees.

 

Source:

Moran, Courtney. “HR Trends: 5 Major Human Resource Innovations in 2019.” G2, 2019, learn.g2.com/trends/2019-hr.