Little less than a decade ago, those hitting the gym or following a stringent diet routine were called ‘fitness freaks’. Cut to 2018 and it’s not the employees that are knocking on the doors of wellness centres but industry biggies like MNCs and private players. Why is the corporate wellness sector booming like never before?
In the next 5-7 years, the global corporate wellness market is expected to be USD 84.9 billion worth, while it is estimated to expand at a CAGR of 6.8% during this period. Although there has been dismal importance paid to corporate wellness programs in the past, the last few years have spelled magic for the industry. Medical health checkups, community workouts, yoga camps, meditation breaks and exercise regimes are some of the most popular wellness programs at workplaces. “Blame it on the long working and unhealthy lifestyle routines that have given rise to the need for corporate wellness programs,” says Mithun Shetty, Head of Community, 91 Springboards.
Across its 20 co-work spaces in the country, the start-up has launched various wellness programs which ensure the overall health of a large community. As many as 9,000 active members of the start-up have been a part various kinds of engagements such as health screenings, meditation, yoga camps, and workshops on cooking healthy meals, among others. Interestingly, the app has partnered with Fitternity for exclusive offers to the employees in its co-work space, while it is open for more collaborations and partnerships in the coming year.
A Ripe Market
Commenting on why there has been a boom in the industry for wellness programs, Mahayogi Akshar Nath, Founder and Chairman of Akshar Yoga, says, “The market in India now is ripe for corporate wellness programs owing to the nature of our current lifestyles. Corporate achievements are leading to stress, anxiety and many lifestyle-related diseases. Bringing holistic health into workplaces and corporate organisations is the right way to combat them.” With 20 academies running successfully under the Akshar Yoga banner in Bengaluru along with its sister organisations in France and Iran, Akshar Yoga aims to launch four flagship academies at four major metropolitan cities by 2020. It is also setting sights on global expansion.
Taking an overview of the current health status of Indians, especially those working with the corporates, Akshar Nath is now inviting potential franchises and corporates to join hands with them to build a society of health and happiness. “The need of the hour is the allocation of an exclusive team equipped to handle the extreme lifestyle imbalance. Our franchisees handle the training of teachers, especially to work for the mental, physical and emotional wellbeing of people,” he says. While keeping pace with the rapidly changing demands of professional life has become crucial, Akshar Nath maintains that neglecting health should be avoided at all costs.
Rooting for Wellness
Incorporated in 2010, wellness management and consulting organisation Truworth Wellness has served more than 200 corporate clients and has reached over 2 million customers in the last five years. While its co-founder Rohit Chohan observes that workplace wellness is fairly a new concept to India when compared to developed countries like the USA, UK and certain European nations, he observes that there has been a transition in the methods of adopting wellness programs, thanks to technology.
“Some of the noticeable recent trends in corporate wellness programs have been the use of mobile technology, increased used of connected devices and even the application of artificial intelligence (AI). While fitness brands and tele-consultations are used to tweak programs as per individual needs, apps are used on mobiles to provide different solutions such as wellness-related activity plan, activity tracker, knowledge content sharing, health expert sessions and more. AI is used for identifying health ailments, patterns and correlation of different parameters affecting health by analysing health data,” Chohan says.
In fact, AI can be useful to tweak personalised routines based on health vitals such as changing diet plan or activity chart. This helps individuals to match their wellness requirements with the changing professional scenario, particularly during travel and long hours at work. Further, commenting about their franchising plans, Chohan, says, “We are currently delivering wellness to around 2 million customers. We want to roll out our franchise model and look for 50 or more franchise partners who can help us reach 5 million customers both in India and abroad.”
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