The Growing Business of Wellness
Improving health is often about lowering costs. Healthy people can cost less to insure and can incur fewer health care expenses as individuals and for employers. However, in recent years our understanding of health and wellness benefits has evolved, and we now know that there’s much more to wellness than reduced spending.
Wellness intentions can be found in hospitals and clinics, workplaces, schools and communities. Providers and practitioners of wellness goods and services offer solutions designed to improve all aspects of a person’s health and well-being. The Well Living Lab focuses on many aspects of the wellness industry, including workplace wellness and the global wellness economy.
Wellness in the workplace
Data shows that a workplace that encourages healthy employees can be good for business. Improved employee health has been shown to mitigate absenteeism, presenteeism and health care costs that can otherwise weaken corporate financial performance.
At the same time, employers who invest in the health of their workforce have reported a multitude of positive outcomes, including improved employee productivity, high employee engagement, improved safety outcomes, a positive corporate reputation and superior stock performance. As millennials become the largest contingent of the American workforce, many companies are realizing that a strong focus on employee well-being in addition to physical health can contribute to recruiting and retaining top talent.
At the Well Living Lab, researchers are studying how the physical workplace influences employee health, well-being and productivity. Currently, researchers are observing a work team from Mayo Clinic that has relocated to the Lab’s completely reconfigurable research facility. As employees go about their daily routines, the Well Living Lab research team is manipulating variables like lighting, heat, sound, and air quality. Through the use of wearable devices and sensor technology, they are collecting quantitative and qualitative data to determine how these changes to the physical environment affect employees’ mood, morale, physical comfort and productivity.
Wellness as a business sector
Increased interest in health and wellness has created a significant business opportunity for organizations that produce goods and services to improve health and wellbeing. In fact, according to a new report from the Global Wellness Institute, it’s one of the fastest growing, most resilient markets, recording 10.6% growth (from $3.36 to $3.72 trillion between 2013 and 2015). As a result, the wellness industry now represents 5.1% of the global economic output.
Well Living Lab Alliance Members are among the leaders of this global wellness economy. Our members are pioneers in engineering, building design, technology, and health care; we work with organizations that are driving growth and innovation in the global wellness economy.
In addition to benefitting from the research we conduct at the Well Living Lab, members collaborate and learn from each other and the experts at Delos and Mayo Clinic with the ultimate goal of improving products and services that contribute to healthier indoor spaces.
To learn more about the global wellness economy and how the Well Living Lab is working to change the way we live, work and play indoors, take a virtual tour or call the Well Living Lab at to schedule an appointment.