Wellness technology has been trending lately, even before COVID-19 started impacting employee wellness.
These wellness initiatives are fairly common today, as over six in 10 organizations responding to XpertHR’s 2020 Employee Wellness Survey indicated they either have a formal program in place, or run wellness initiatives without a formal program.
“There is a greater need for wellness initiatives today, especially in light of new challenges presented by the Coronavirus pandemic,” says Andrew Hellwege, Surveys Editor, XpertHR.
“Stress levels are rising, and companies of all sizes need to address these issues or they risk a negative impact on employee wellbeing and lost productivity.”
More wellness technology trends
While wellness initiatives and programs are widespread among mid-size and large employers, they are less common among small organizations.
Fully 89% of organizations with 1,000 or more workers have either a formal wellness program or run wellness initiatives without a formal program, compared with 75% of employers with 250 to 999 workers, and 46% of organizations with a staff of fewer than 250.
Cost may be a contributing factor to why smaller organizations are less likely to have wellness programs or initiatives. Of the companies currently offering wellness programs or initiatives, almost one-half (46%) reported that they are spending less than $200 per employee on an annual basis, while 37% are spending between $200 and $400 per worker, and 17% are spending over $400 per employee.
However, despite the cost of wellness programs, their popularity seems poised to grow, as one-half of those who have no wellness initiatives or programs in place say they plan to introduce a formal wellness program or some initiatives in the near future.
When asked why they haven’t put wellness programs in place, 39% said it has been due to a lack of resources and 38% explain that the “company just hasn’t gotten around to it.”
“In a time of crisis, implementing wellbeing and mental health strategies is one of the most important investments a company can make,” says Hellwege.
“As companies navigate the current pandemic, they should consider putting wellness policies and practices in place to address employee needs just as they would a business continuity operation plan.”