Posted On: DEC-2024 | Categories : Information and Communication Technology
Corporate wellness has grown into a major industry globally, with employers seeking to keep their employees healthy, happy, and engaged. This includes corporate exercise programs, healthy eating campaigns, and office environment improvement. By 2027, the global corporate wellness market is projected to reach a value of 146.6 billion USD, representing a nearly 7% annual growth over 2022.
By 2028, the global corporate wellness industry is expected to have grown from 54.1 billion dollars in 2021 to over 93 billion dollars. With an estimated value of over 16 billion US dollars, North America is currently the second-largest regional market for workplace wellness after Europe. In the United States, employer-sponsored fitness competitions, yearly health risk assessments, and on-site seasonal flu shots were among the most popular wellness initiatives and activities.
Currently, surveys indicate that 9 out of 10 companies use some form of wellness-related efforts.
Currently, 85% of large and 54% of small workplaces provide wellness programs.
About 56% of employees in the wellness program take fewer sick days than those who do not participate.
Over 90% of the respondents underlined that they appreciate the company's new addition of providing support related to mental issues. Also, 80% say that mental health support is one reason for transforming companies.
77% of employees have reported worsening work-related mental health issues, and 25% of employees agree that they are working with a toxic company.
According to the survey, 66% of employees said they are forced to work in offices contrary to their desires as workers.
57% of the workers regarded flexible work schedules as crucial factors to consider when looking for companies to work for so that they can balance their personal and working lives.
Concerning employee financial health, the survey reveals that 60% of respondents believe that the organization where they work is the ideal workplace for them.
Moreover, 46% of the employees said they feel dissatisfied with their current salary.
For employees, 15% detach their opinion that their manager does not respect them as human beings, and 31% said their manager and colleagues should compliment them more often on their work.
Regarding professional well-being, 54% of managers reported never being trained to manage remote workers.
Further, 29 % of employees indicated some work uncertainty.
And 18% of employees want more such chances to make them more competent.
Gallup's 2022 global study reveals that only 33 % of workers are "thriving" in their well-being.
40% of workers reported feeling worried, and 44% said they had "a lot" of stress the day before.
About one-third of workers say they prosper in their general well-being, whereas only 21% of foreign workers say they are engaged at work.
The highest %ages of thriving employees are found among workers in the United States and Canada (60%) and Australia and New Zealand (63%), while the lowest %ages are found in Sub-Saharan Africa (21%) and South Asia (11%).
A recent survey revealed that more than half of the full-time employees are stressed because of their finances, more than during the pandemic.
Currently, 76% of the C-Suite and HR indicate that they experience high levels of financial stress
The latest survey paints a very sorry picture: many workers are woefully ill-prepared for retirement: only 40% of today’s workers have confidence in their ability to save enough for their post-work years.
Concerns about inflation are currently rather high among employees, as 44 % claimed that they have experienced severe negative changes to their financial conditions in the last year due to inflation.
• A survey found that 59% of employees feel their pay is inadequate for the cost of living. Additionally, 49% of adults have trouble making monthly household expenses, up from 41% last year. Among customers with credit card balances, 44% struggle to meet their minimum payments, an increase from 37% the previous year.
Per FOMO, most employees (72%) who undergo financial stress suffer mental health issues, while 60% suffer physical health issues.
A 2023 survey shows that 64% of employees have experienced financial stress, which has strained their relationships with friends and family.
The stress here is mainly due to financial worries, affecting 92% of workers, and its impact means employers lose $190 billion in productivity monthly.
New studies reveal that up to 60% of workers would be willing to change their employers for better monetary incentives
For 2024, only 30% of organizations indicated they would increase their spending on financial wellness programs, a significant decline from 65% in 2023.
Only 61% of workers have access to benefits that include mental health treatment.
In 2023, only 56% of workers believe they have control over their health. In 2023, 41% of workers said their company cared about their well-being, down from 47% in 2022.
In the last year, nearly four out of ten workers (38%) say their employers have cut off a variety of well-being initiatives, such as stress management, nutrition, help for parents and caregivers, and mortgage aid.
65% of working adults stated that stress originating from work impacts and is evident in their homes and with their spouses.
Sources on employee relations stress and anxiety conclude that 56% of employee workplace performance is expected to decline.
Over the last six months, one in four employees have claimed to be suffering from chronic stress or severe anxiety that impacts their functioning.
Approximately 45% of the employees said that anxiety hinders them from professional interaction, leading to 73% isolating themselves from social events, 53%becoming easily provoked, and 43% avoiding attending meetings.
Among all the methods employees utilize to handle stress in the workplace, the most popular one is an increased amount of sleep at 44 %. Other measures employee use to deal with work stress are increasing their intake of caffeine (31%), smoking (27%), exercising (25%), taking medications (23%), and drinking alcohol in quantities that are greater than normal (20%).
Daily, 40% of workers encounter stress or anxiety, yet only a fraction of them, less than 10%, have been clinically diagnosed with anxiety.
Social anxiety disorder – which is characterized by feelings of fear or discomfort in social situations, affects 15 million American adults.
The primary sources of work-related stress are staying on schedule (55%), cooperating with other workers (53%), supervising employees (50%), and solving any emerging issues (49%).
While up to half of the employees had discussed stress with the employer. The top reasons preventing them from doing so are: they feared their boss would think they are not interested or incapable (34%), scared they will be labeled weak (31%), believe that it impacts their promotion chances (22%), fearing that it goes into their portfolio (22%) and that they will be laughed at or not taken seriously (20%).
Organizations today have found that one-third of their employees are actively involved in their work and organizational environment.
Nearly 16 % of employees are described as being in the ‘’actively disengaged’’ state at the workplace, with adverse impact on the workplace culture and employee productivity, among other parameters, via negative attitudes or behaviors.
81% of the hybrid and 78% of the remote employees who responded to the survey agreed with this statement. The fully in-office workers are the least engaged, with an engagement score of 72%. 73% of employees said they would perform better if their managers appreciated more.
89% of human resource professionals ranked lack of feedback and clarity of expectations as critical for enhanced employee engagement.
The wellness program revealed that 89 % of the employees who have received this program said they are more engaged and happier in their jobs.