Australian employers are recognising the benefits of investing in employee health and wellbeing, and increasing their spend on corporate health and wellness, according to a new IBISWorld Report.
The Corporate Wellness Services Market Research Report shows this increase in demand for corporate health services has given the industry an annual growth rate of 4.9%, which is estimated to increase to 9.5% over the next five years.
The report suggests this increase in demand is fuelled by businesses keen to invest in corporate health and wellness in order to boost productivity and reduce absenteeism. It’s also bolstered by business confidence in Australia’s strengthening economic conditions.
Other trends include a rise in online delivery of wellness services such as fitness and dietary programs, and health and fitness monitoring.