5 Key Takeaways From 2024 Employee Wellness Industry Trends Report

The new year marks the release of Wellable’s 2024 Employee Wellness Trends Industry Report. This annual report reveals wellness strategies companies will be implementing in the upcoming year, offering organizations valuable insights to prepare for and adapt to the constantly changing business landscape. 

The new demands of hybrid work models, combined with surging healthcare costs, require a strategic approach towards allocating resources for employee benefits. This report is uniquely informed by data collected directly from health insurance brokers, who represent thousands of employers and millions of lives. It empowers employers to:

Enjoy these highlights for a sneak peek of the full report!

Employers remain committed to mental health and are pivoting towards more employee-centric wellness programs, evidenced in the survey findings that show rising investments in mental health solutions (91%), stress management tools (66%), telemedicine (65%), and mindfulness programs (55%). 

Mental Health Remains Top Of Mind

For the fifth consecutive year, mental health dominates all wellness solutions, with 91% of companies increasing funding in this area. However, execution is shifting from supplemental, self-service solutions (i.e. mindfulness/meditation apps) toward comprehensive wellness platforms and more personalized care (i.e. telemedicine).

Emphasis On Managing High-cost Health Conditions

The intense demand for weight-loss drugs like Ozempic, coupled with rising healthcare costs, are prompting companies to prioritize the proactive management of chronic health conditions. This is seen in the heightened focus on preventive solutions (i.e. health risk assessments) and weight and disease management programs. Such measures are driven by the potential for long-term cost savings and improved employee health outcomes.

Decline In Physical, On-site Wellness

Investments in traditional, on-site wellness offerings like fitness classes, biometric screenings, and healthy food options are declining. Recognizing the broader scope of wellness and the needs of a hybrid workforce, companies are shifting from location-bound, physical health-dominant programs toward more flexible, personalized offerings.

Growth Of LSAs

Over half (52%) of companies plan to increase investments in lifestyle spending accounts (LSAs), which allow employees to allocate funds to expenses of their choice. This represents a shift toward personalization, autonomy, and flexibility in wellness programs.

Rising Cost Of Benefits

Escalating benefits costs are prompting employers to be more cost-conscious in their benefits decisions and vendor selections. Despite rising healthcare costs due to inflation, labor shortages, and costly treatments, employers are maintaining their commitment to healthcare affordability for employees.

Unlock the full potential of Wellable’s research by accessing the report. These insights are particularly crucial for HR leaders as they plan and implement wellness initiatives in 2024.