Transparency Market Research Report Added "Corporate Wellness Market" to its database.
Albany, NY -- (SBWIRE) -- 04/04/2016 -- Transparency Market Research's report, titled "Corporate Wellness Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023", is aimed at being a guiding document to companies offering corporate wellness services. With a motive to highlight the strengths, weaknesses, opportunities, and threats, the research report uses a SWOT analysis. Furthermore, it also uses a Porter's five forces analysis to evaluate the threat of new entrants, threat of substitute products or services, bargaining power of customers (buyers), bargaining power of suppliers, and intensity of competitive rivalry in the corporate wellness market.
Corporate lifestyle, defined by a hectic pace of living and stressful jobs, has led to a wide range of conditions among individuals working in this kind of a culture. Hypertension, diabetes, depression, and cardiovascular diseases are some of the commonly seen conditions amongst corporate employees. Not only has the trend of poor and deteriorating health conditions added to corporate expenses, but also worsened the productivity of organizations. Owing to these reasons, corporates are spending wisely and generously on corporate wellness solutions for their employees. These initiatives are aimed towards improving the health status of the employees and helping them maintain fitter bodies. These schemes are also helping the organizations to cut down the attrition rate and enhance productivity.
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Government initiatives that are mandating organizations to implement well initiatives are expected to create a remarkable change in the global corporate wellness market. For instance, the Affordable Care Act in the U.S. raised the incentive cap from 20% to 30% of the total cost that is borne by employees who participate in wellness programs. Such encouragement will effectively improve the quality of health of the employees, thereby creating a positive impact on the productivity of the company's output. Furthermore, these sincere efforts are also expected to improve employee retention, which has become a huge problem in times when stress and irreversible health conditions define the nature of every job. Today, even smaller and medium-sized firms are increasing the adoption of corporate wellness programs to improve employee satisfaction and to keep them motivated to perform better.
Some of the important companies profiled in the global corporate wellness market research report are Corporate Wellness Solutions, Provant Health Solutions, GCC Group, Trotter Wellness, and FitLinxx. Currently, Fitbit, an activity monitor manufacturer, has also started offering corporate wellness solutions. The extensive research report offers an insight into the competitive landscape of the global corporate wellness market and shares important details pertaining to the financial overview, research and development activities, investment outlook, and business and marketing strategies.
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