The arrival of the new year means the release of Wellable’s 2020 Employee Wellness Industry Trends Report. This annual report aims to quantify and better understand the wellness strategies companies are implementing in the upcoming year, providing a guide for all employers to help them create a healthy, happy, and productive workforce. Employers and brokers can use this information to make better benefits decisions to ensure they are creating competitive wellness plans to address the needs of current and prospective employees.
As part of the research, the survey explored three key areas:
- Investment Trends – The survey explored employer strategies and sentiments on 20 popular wellness program offerings to see where they were planning to invest. New to this year’s report is a deep dive into specific solutions for caregiver support.
- Decision Influencers – The survey identified six factors companies consider when making benefit decisions and measured the degree to which these factors influence their choices.
- Vendor Evaluation – Many companies utilize third-party vendors to meet their employee wellness needs. This section of the survey evaluated the top criteria employers use to evaluate vendors.
Download the full report to see all the valuable information gathered from the research. As a teaser, enjoy the interesting tidbits below, which are expounded upon in more detail inside the report.
- Mental wellness is the clear winner when it comes to expanding benefits. Mental health, stress management, and mindfulness and meditation all surged in popularity with 80%, 73%, and 66% of employers expecting to invest more in these types of programs in 2020, respectively.
- As the large baby boomer generation enters old age and more parents enter the workforce, companies are focusing more on how they can support caregivers. Employers overwhelmingly favor flexible schedules (84%), remote work (67%), and paid time off (53%) as benefits of choice to support these workers. These offerings allow caregivers the schedule flexibility they desperately need without sacrificing income and valuable benefits, and do not require a high amount of resources to implement.
- Pricing continued to be the top criteria used when evaluating wellness vendors for small (<250 employees) and medium (250-1,000 employees) companies, while flexibility and customizability was the top criteria for large companies (1,000+ employees).