Corporate Wellness Programs: The Secret to BIG Business With SMALL Overhead

Digital Image by Sean Locke Digital Planet Design www.digitalplanetdesign.comCorporate Wellness Programs are one of the fastest growing and most lucrative aspects of the health and wellness industry and they offer unlimited earning possibilities for wellness businesses and practitioners.

What are Corporate Wellness Programs?

In order to increase morale and find less expensive alternatives to rising employee healthcare costs, many companies are instigating Corporate Wellness Programs for their teams. Popular offerings focus on everything from nutrition education, live fitness classes, mindfulness training and yoga as well as lunchtime massages.

For wellness practitioners from personal trainers, massage therapists, to yoga and Pilates instructors, providing corporate wellness packages to local businesses provides both scheduling flexibility, freedom from overhead costs, and access to innumerable potential future clients.

Why are CWPs in such high demand?

    • Exercise classes and health club membership ranked No. 2 and 3, respectively, behind full medical checkups, in terms of subsidized benefits that employees would like to receive.

 

    • The success of early corporate wellness programs (particularly the positive impact on the bottom line) has spurred many companies to adopt health-based programs for their own employees. According to the Society for Human Resource Management, 77% of employers currently offer some sort of formal health and wellness program and 31% of America’s larger corporations subsidized their employees’ health club memberships.

 

    • Employers reported a 56% increase in employee morale after launching a corporate wellness program.

 

  • 82% of Americans said they would exercise regularly if their employer subsidized health club memberships.

Today, it seems that many employees’ wishes are coming true-yet it isn’t pure corporate altruism. With skyrocketing healthcare costs, many businesses are realizing that they stand to payout far less if they invest in employee fitness, nutrition, and stress reduction through preventative wellness programs rather than mitigate future HMO costs.

How to profit from the Corporate Wellness agenda:

pb-big-businessThe first step is to create a series of turnkey packages that are designed to fit a variety of business sizes and cultures, and then to relay on good, old fashioned grassroots marketing to network with said companies in order to distribute your service information. Yet the question remains, once you’ve put your package together, how do you convince employers of its necessity? Incorporate these great facts and they won’t be able to say no:

    • The obesity epidemic and unhealthy lifestyles of employees have led to lower worker productivity, higher compensation claims and higher heath insurance costs – severely hurting U.S. companies’ bottom line (Merriman Curhan Ford Fitness and Wellness Report, 2008.)

 

    • Obese employees cost private employers approximately $45 billion a year due to medical expenses and excessive absenteeism (Weights and Measures: What Employers Should Know About Obesity, by Barbara Rosen and Linda Barrington, The Conference Board, 2008).

 

    • Companies are projected to pay an average of $9,312 per employee for health care in 2008, up from $6,385 in 2003 (2008 Health Care Cost Survey, Towers Perrin).

 

  • Health insurance costs are the fastest-growing cost component for employers (“Will Health Benefit Costs Eclipse Profits?” McKinsey & Company, September 2004).

Critical Condition: How Health Care In America Became Big Business-And Bad Medicine:

images (1)Small businesses and big corporations have a lot in common but they also have a lot of differences too. Every business has to start small and work their way up. Some businesses are faster at growing than others and some don’t ever reach their maximum potential. A small business is just that, maybe a single person offering some type of service or maybe a store with a few employees. When a small business remains small, there is usually a reason for it. Maybe the business just wants to stay small, or maybe they just don’t know how to grow. If you want to grow your business to its full potential, then you have to keep your eyes constantly open for new ideas and ways to do stuff.

One aspect that separates big businesses from small businesses, is what you do with your money when you make it. Do you use that money to re-invest into your business? Or do you use it to go have a good time over the weekend? Obviously I’m not saying don’t enjoy your money but you have to invest some back into your business. The more you invest back into your business, the more you get out of your business and the more it grows. Look at your competitors and see how they are spending their money. Are they investing it back into their business or blowing it? I would guess if you were looking at a big successful competitor of yours, they would be investing quite a bit of money back into the business to grow it. If you were looking at a smaller business competitor of yours, they might just be putting in a little, or no money back into the business.

imagesAnother difference between the two would be constantly changing the way you do things. If something is not working then fix it. Don’t just keep doing it and hoping that it will get better in the future. Also how are you keeping track of stuff? Or are you keeping track of stuff? If you are, are you still using a notepad and a pen, or are you using a computer and staying above your competition? Do you accept credit cards or cash only? Are you using old outdated equipment or the newest equipment that gets the job done better and cheaper? All of these are examples of what I mean by you need to constantly be changing or updating the way you do business.

Looking professional is a huge part of big business. If you and your business don’t look professional, your not going to ever get to the big business. Make sure you and your employees wear company uniforms or at least dress for the job. Don’t show up to someones house looking like garbage. Even if your not garbage, people might think you are and not hire you just because of the way you or your employees look. Make all your documents look professional. Make and use a company logo on everything. If you have a company logo, then your already setting yourself up for success. If your not sure where to start on getting a logo, go to my website and get one made at the price you want.

One final thing that big businesses separate themselves with is, employee treatment. If you get big enough to have employees, treat them the way you would want to be treated. Employees want to get paid good, yes but they also want to work for someone that they respect. Help out your employees any way you can. If your company is making enough money, maybe look into getting health insurance or some other benefit for your employees. Do something that separates the way you treat your employees from the way your competition treats their employees.