Paul Bowman, CEO of Wexer,  sits down with Troy Morgan, the former Head of Wellbeing Strategy and co-investor of Springday, a digital wellness platform dedicated to enhancing the well-being of organizational personnel, to discuss a notable shift in corporate wellness.

 

“The ability to connect into those digital ecosystems of work and completely embed well-being is where the future will be. Creating small changes in employees’ well-being can have major impacts on productivity and the bottom line of their organization”

~ Troy Morgan, Former Head of Wellbeing at Springday ~

A 2022 global report from Gallup shows that only 33% of employees are “thriving” in wellbeing, showing a drastic need for change in the corporate wellbeing industry. The decade-long transformation has converged at the intersections of fitness, technology, and employee engagement. It traces the journey from traditional approaches to the current era dominated by digital platforms and artificial intelligence. 

In his former role as the head of well-being strategy, Troy provided valuable insights into the challenges and lessons from fitness-focused initiatives to comprehensive corporate health programs. He and Paul address critical components of successful corporate wellness initiatives, emphasizing the importance of leadership buy-in, strategic engagement, and the integration of emerging technologies like AI.

The success of corporate wellness industry programs hinges on engaging employees. Before addressing specific wellness goals, organizations must ensure active participation and interest from their workforce. Paul Bowman and Troy Morgan highlight the paramount importance of engagement in corporate wellness, emphasizing that fostering a healthier and more engaged workforce is not just a desirable objective but a strategic imperative on a global scale. They invite listeners to unravel the layers of corporate wellness, exploring past, present, and future trends shaping how organizations approach the health and vitality of their workforce.

Employee Engagement in the Corporate Wellness Industry

Central to the success of a corporate wellness program is active employee engagement. The podcast underscores that before addressing specific wellness goals, organizations must ensure participation and interest from their workforce. The conversation between Paul Bowman and Troy Morgan highlights the paramount importance of engagement in corporate wellness. Fostering a healthier and more engaged workforce is positioned not only as a desirable objective but as a global strategic imperative. The evolving landscape, influenced by digital platforms, data analytics, and a heightened focus on employee well-being, underscores the need for organizations to proactively engage their workforce.

It’s crucial to explore insights derived from experiences, showcasing the evolution from traditional fitness-focused approaches to the contemporary era dominated by digital platforms and artificial intelligence. Paul and Troy emphasize the necessity of tailoring well-being initiatives to individuals, recognizing that a one-size-fits-all approach is no longer sufficient. The acknowledgment of diverse needs within a workforce becomes a focal point, signaling the importance of customization and personalization in fostering a healthier and more resilient workforce. This individualized well-being approach emerges as a key element in reshaping the landscape of corporate wellness, acknowledging and addressing the unique well-being requirements of each employee.

The Role of C-Suite With Corporate Wellness

Leadership buy-in, especially from the C-Suite, emerges as a crucial factor for the success of corporate wellness programs. The commitment of the C-Suite helps drive organizational culture change and sets the tone for employee participation. Strategic engagement by leadership is positioned as a cornerstone in the discourse on corporate wellness. Proactive involvement and support from top-tier executives are integral to the success of corporate wellness initiatives, influencing the trajectory of these programs and ensuring their alignment with broader organizational goals.

Measurable outcomes and data utilization constitute vital dimensions within the paradigm of corporate wellness. The evolving landscape is shaped by the convergence of digital platforms and data analytics, and utilizing measurable outcomes as benchmarks is key for success in corporate wellness initiatives. Troy Morgan emphasizes the importance of data in assessing program efficacy and tailoring interventions. This serves as a guide for organizations seeking to harness the power of measurable outcomes and data utilization in optimizing the health and vitality of their workforce.

Artificial Intelligence and Corporate Wellness

The integration of artificial intelligence (AI) and technology emerges as a pivotal theme in the corporate wellness industry. The dialogue underscores how the synergy of digital platforms, data analytics, and a growing emphasis on employee well-being has propelled the industry into a new era. 

Specifically, Paul and Troy explore the integration of AI within corporate wellness initiatives. Organizations need a compass to navigate the complex terrain of technological integration and strategic approaches to problem solving. The potential of AI to personalize well-being programs is equally interesting, making technology more effective and responsive to individual needs.

The importance of a holistic and data-driven approach, leadership commitment, and the integration of emerging technologies in corporate wellness programs is key to evolving the realm of corporate wellness and offering comprehensive perspectives on the shifting landscape. 

Key takeaways encompass the crucial role of leadership buy-in, the strategic engagement necessary for successful initiatives, and the integration of cutting-edge technologies such as AI. The emphasis on measurable outcomes and data utilization, the focus on individualized well-being, and the overarching commitment to employee engagement collectively form a roadmap for organizations navigating the intricate terrain of workforce health are all key components. 

As we unravel the layers of corporate wellness, it becomes evident that fostering a healthier and more engaged workforce is not just a goal but a strategic imperative for organizations worldwide. Continuing discussion on the ever-evolving landscape is a valuable resource for organizations seeking to adapt and thrive in the ever-evolving corporate wellness industry.

Ready to learn how to take advantage of the 2024 Corporate Wellness Trends? Let us help you utilize your data, virtual technology, and AI to develop your corporate fitness and wellness content strategy. Email us: INFO@WEXER.COM

For More Information:

Contact: Troy Morgan on Linked In

Springday

Podcast Episode 30

The post Future Of Corporate Wellness Must Focus On Employee Well-Being appeared first on Wexer.

Beyond Activ is building the world’s largest health, fitness, wellness, and sports ecosystem. By building a community of brands collaborating knowledge and expertise in an environment of promoting industry development and investment.

 

“The corporate health/well-being industry and the fitness wellness industry are actually set very far apart. Part of the mission of Beyond Active is to try and blur those lines.”

~ Ross Stewart Campbell, Founder & CEO, Beyond Activ ~

The Market Insight pages of this report will walk you through the past year’s trends encompassing our industry’s ecosystem; from Big-Box, Boutique Fitness, Hotel & Spa to Medical Wellness, Corporate Wellness, Technology and more. While also offering an understanding of some of the biggest players in each of these sectors.

Ross will cover global holistic opportunities in the fitness, hospitality, medical, and corporate sectors, capital investments in specific geographical areas, and the exciting future of digital fitness and technology within every industry.

Global Industry Transformations

Insights from various regions, including Asia Pacific, the Middle East, and Australia, reveal dynamic shifts of emerging fitness industry trends. Notably, there’s a surge in investment and growth, with a focus on boutique concepts, franchise expansions, and a move towards holistic services.

The Middle East stands out with its diverse landscape of traditional big box clubs, wellness resorts, and the emergence of franchisors. Moreover, Paul and Ross delve into the evolving dynamics of corporate health and wellbeing. They emphasize the need for innovation, hyper-personalized content, and collaborations between the traditional fitness industry and employee health solutions.

Fitness Industry Growth

In the global fitness market, momentum is building in the Asia Pacific (APAC), Australian, and Middle East markets, marked by renewed confidence among operators and increased investment. This points to a shift towards holistic services, with the integration of wellness and fitness to achieve holistic health. Investment trends reflect a dynamic landscape, where ambitious and well-capitalized investors are driving growth, particularly in newer markets that may start from a lower base.

“I think what you also have now are really ambitious and well-capitalized investors. They see the opportunity and they’re chasing that down.”

~ Ross Stewart Campbell, Founder & CEO, Beyond Activ ~

Paul and Ross also acknowledge the experimentation and rapid growth facilitated by the absence of significant existing infrastructure in certain regions. Overall, fitness industry trends and the investment dynamics depict a sector in flux, adapting to changing consumer demands and capitalizing on emerging opportunities.

1. Big Box Fitness Market

In 2023, larger fitness operators experienced a resurgence. New memberships, member visits, and revenue per member all increased. Some even exceeded pre-pandemic numbers. Operators achieved this by optimizing costs, focusing on strength and conditioning workouts, and embracing revamped group exercise formats. The Middle East saw new big-box clubs opening, but APAC lagged behind in new builds.

2. Boutique Fitness Market

Boutique fitness studios evolved to offer personalized experiences and eco-friendly practices. There was a shift away from high-intensity workouts towards strength and conditioning. Gen Y and Gen Z gravitated towards studios with authenticity and sustainability. Flexible membership models and AI-driven coaching became common, fostering a sense of community within studios.

3. Technology Enhanced Fitness Workforce

Fitness Industry Staffing Challenges

The growing demand for fitness services outpaces the available workforce, necessitating a reevaluation of traditional staffing models. This all supports a turning point where fitness businesses might need to consider incorporating virtual or on-demand classes to supplement their current workforce. Businesses need to address not only the scarcity of skilled professionals but account for factors like sickness, holidays, and increasing competition for qualified coaches.

“If I was to take the collective ambition of all of the clubs and businesses that we work with and then add that all together in terms of the manpower needed. There is probably 10% of the manpower needed currently available in the workforce.”

~ Ross Stewart Campbell, Founder & CEO, Beyond Activ ~

The pervasive issue of workforce shortages within the fitness industry emphasizes the significant challenges faced by businesses aiming for ambitious growth. With a collective ambition to expand operations, open new clubs, and venture into additional countries, the industry confronts a critical manpower deficit. This scarcity extends across various roles, including instructors, therapists, clinicians, coaches, and personal trainers.

Virtual & Digital Solutions For Fitness Staffing

With an evident scarcity of qualified staff, clubs and businesses are grappling with the challenge of meeting their expansion goals. A strategic shift toward incorporating virtual or digital solutions for instructor-led or on-demand classes provides an opportunity to offer fitness and wellness anytime and anywhere. Fitness businesses can provide fitness and wellness content for members, build brand and instructor loyalty, and expand into more markets outside their facility and meet the demand for content 24/7.  

Paul and Ross suggest that this integration is not only a response to staffing challenges but also a proactive measure to accommodate factors like helping businesses cover staffing shortages, sickness and holidays, but also build loyalty in a competitive landscape where coaches are frequently sought by other companies. Emerging fitness industry trends that blend virtual and physical offerings is a practical solution to scale operations, ensuring that ambitious growth targets can be achieved even in the face of workforce shortages.

4.  Fitness and Technology Trends

Fit-tech expanded with personalized AI-driven health and fitness programs. Wearables and trackers monitored stress, sleep, and mental health indicators. Technology platforms enhanced member training experiences and holistic well-being. Feature enhancements, like body scanning technology, improved the fitness experience.

Digital fitness and wellness reached new heights in 2023. AI-driven platforms personalized fitness plans, wearables monitored physical and mental health, and virtual mental health support gained traction. Virtual reality made workouts engaging, while telehealth and remote diagnostics continued to thrive.

5. Franchising Trends

Franchising experienced explosive growth, becoming more diverse and competitive than ever. High-Value/Low-Price (HVLP) franchisors expanded rapidly, offering a wide range of concepts. Franchisors adapted models to ensure faster profitability for franchisees. However, some franchisees hesitated due to economic uncertainties.

Digital & Hyper-Personalized Corporate Fitness and Wellness

Corporate wellness took center stage in 2023, emphasizing proactive health measures and holistic well-being. Companies adopted personalized well-being programs, optimized remote work structures, and provided wellness apps and resources. Progressive policies such as shorter work weeks and unlimited paid time off reflected the shift towards holistic employee well-being.

“Relevant content, if you can put that into someone’s day then you are addressing and engaging the larger employee base.”

~ Ross Stewart Campbell, Founder & CEO, Beyond Activ ~

In the context of corporate health initiatives, Paul and Ross underscore the shift towards hyper-personalization delivered to employees via digital fitness and wellness content. Employees demand work-life balance, tailored guidance, and accessible personalized content available anytime and anywhere. Traditional corporate health and well-being offerings are depicted as two-dimensional, often limited to discounted fitness memberships or generic marketplaces.

The emergence of digital platforms is a crucial step in bridging the gap between the fitness and wellness industry and the employee health and well-being sector. However, there are challenges in navigating a market with diverse offerings. This creates the need for innovative solutions that provide engaging, digital, personalized content to address the varied health and wellness needs of employees.

Importance of Wellness In The Hospitality, Spa & Medical Industry

Hotel occupancy rates in APAC and the Middle East exceeded pre-pandemic levels in 2023. Lifestyle hotels and wellness hospitality were in high demand. Traditional spas continued to evolve, offering boutique spaces and community events. In-room fitness and wellness services were in their early stages.

The importance of rest and recovery in overall well-being gained recognition in 2023. New offerings included sleep retreats, AI-integrated solutions, and sleep monitoring wearables. Other recovery solutions like cryotherapy and massages continued to grow. A global surge in sleep tourism was anticipated.

Wellness technology focused on mental well-being and sleep optimization. Wearables dominated this space, providing sensor-driven analytics and AI-driven content and coaching. DNA testing added personalized health content. Increased competition and acquisition costs marked the future of this burgeoning sector.

Health-tech embraced AI for diagnostics, treatment precision, and personalized medicine. Telehealth became a core practice at healthcare institutions. Augmented and virtual reality enhanced healthcare experiences. Aggregators, booking apps, and health-tracking apps gained popularity, promising a future of convenience and accessibility.

The demand for medical tourism, telehealth, and personalized lifestyle medicine continued to grow. Innovations included AI in content, regenerative medicine, and wearable health data tracking. Social media, medtech aggregators, and government support fueled innovation in this space.

Future Industry Growth

The Beyond Activ 2023 Industry Report paints a vivid picture of the transformative holistic industry trends in the health, fitness, wellness, hospitality, and spa industries in the APAC and Middle East regions. As we move forward, these insights provide valuable guidance for businesses and professionals looking to thrive in these dynamic and evolving markets. The future promises continued innovation, greater accessibility, and a strong focus on holistic well-being for individuals and communities alike.

Ready to learn how to take advantage of the Industry Trends? Let us help you utilize your data, virtual technology, and AI to develop your digital technology strategy. Email us: INFO@WEXER.COM

For More Information:

Paul Bowman

Beyond Activ

Ross Stewart Campbell on LinkedIn

The post Holistic Industry Trends in Fitness, Hospitality, Corporate & Health   appeared first on Wexer.

With a keen focus on the intricacies of running a successful fitness business, strategic insights for aspiring fitness entrepreneurs, and the revolutionary influence of cutting-edge technologies, Lewit imparts invaluable advice derived from years of firsthand experience. Covering everything from the meticulous process of constructing a fitness facility catering to individual customer needs to the pivotal significance of forging strategic partnerships, he provides a holistic perspective on the future of fitness.

Lewit discusses the evolution of the fitness industry by discussing key points: the importance of wellness and fitness technology on recovery, the impact of data and digital technology on workouts, and the benefits of the Wexer and NovoFit’s exclusive partnership for fitness businesses.

Evolution of Fitness Industry

1. Understand Demographics To Cater To Your Target Market

Understanding and catering to demographics emerges as a pivotal factor shaping the fitness industry, shedding light on nuances crucial for the success of a fitness facility. The common pitfalls observed among entrepreneurs who construct gyms based solely on their own personal preferences and workout styles underscores the need for a paradigm shift.

When envisioning the fitness of the future, there is a clear emphasis on comprehending the unique characteristics of their target audience and tailoring the fitness and wellness offerings accordingly. The significance of adopting a nuanced and thoughtful approach to fitness businesses lies making sure you have the right mix of products, services, programs, equipment and technology in your operation.

The call to open a fitness operation with a keen eye on the specific needs and desires of the community it aims to serve, resonates as a strategic cornerstone for long-term success in the fitness business. Recognizing the importance of tailoring fitness facilities to attract specific demographics is key to future success.

 

“You get customers that walk in and you’re talking about goals and needs. It’s not about selling the product, it’s around matching up solutions and taking them on a journey of outcome-based fitness.”

~ Adam Lewit, Director, NovoFit ~

2. Focus On Financial Health Of Fitness Businesses

Owners must have financial acumen to grasp the numbers and metrics to drive business success. This is above and beyond the usual daily operational concerns of gym owners. Many owners get into the fitness business based on their personal passion for fitness, but passion alone can’t make the business successful. Lewit and Bowman reveal the surprising lack of financial awareness among many gym operators and how it should be a wake-up call for aspiring entrepreneurs entering the industry.

They must focus on long range financial health and key industry financial metrics like the number of members, member retention, member attrition, new sales, and building membership dues and accounts payable. Owners can find many industry and fitness companies with the resources and guidance to help fitness business owners succeed.  

“If you don’t know your numbers, you don’t really know your purpose. You don’t really know how many members you need a week to keep your doors open.”

~ Adam Lewit, Director, NovoFit ~

Drawing a parallel with Adam Lewit’s personal journey, where he initially lacked commercial acumen, it resonates with the universal truth that passion alone cannot sustain a business. The guidance shifts towards a pragmatic approach, encouraging fitness professionals to prioritize financial health, likening it to managing the heart and nervous system of a business.

3. Digital Fitness Enhancement in the Future of Fitness 

The concept of “going digital and staying human,” means digital solutions need to enhance rather than replace the human element in fitness. Digital fitness offering allow personalized and virtual solutions that can expand the member experience, increase member satisfaction, and ultimately increase member retention. 

The multifaceted impact of digital fitness can expand class timetables, utilize facility space that would normally be unused, virtually expand your workouts to more users, facilitate individualized training experiences, and provide members access when they want it and how they want it. Instead of replacing instructors, digital solutions complement human expertise, allowing for personalized guidance and technique-focused interactions on their own time schedule.

 This further underscores the symbiotic relationship between digital tools and human instructors, amplifying the fitness journey for individuals.

“Your fitness journey is no longer the just four walls of your facility. So, as an operator, I need to figure out a way to create more touch points outside of those four walls.”

~  Adam Lewit, Director, NovoFit ~

4. Integration of Fitness and Wellness Technology

Technology plays a pivotal role in optimizing wellness and recovery strategies, offering valuable insights and data to enhance their effectiveness. The integration of smart watches and other fitness and wellness tracking devices provides a comprehensive understanding of individual recovery and health needs, delving into factors such as sleep quality and heart rate variability.

This personalized approach aligns with the overarching objective of optimizing each person’s total fitness and wellness journey for their overall well-being. It is crucial to view the integration of technology in recovery not as a standalone solution but as a complementary element. By enabling users to achieve optimal results while minimizing the risk of over-training or burnout, technology becomes an essential component in the quest for balanced and effective fitness practices.

5. The Importance Of Strategic Fitness Partnerships

The future of fitness is no longer confined to the traditional model, but has evolved into a dynamic ecosystem where collaborations and strategic alliances play a pivotal role. When considering the fitness of the future, focusing on the interconnected nature of various components ensures the overall health and success of an enterprise. 

Partnerships between fitness equipment and technology companies exemplify the practical application of partners with complementary strengths and expertise. By reaching out to the partnerships, fitness businesses can thrive with the education and guidance. Strategic alliances are not merely advantageous, but imperative for sustained growth and innovation in the future of fitness.

The collaborative approach provides valuable guidance for fitness industry players looking to navigate and thrive in the ever-evolving fitness landscape. 

The Impact Of the Wexer & NovoFit Partnership On The Future of Fitness

Partnerships like Wexer and NovoFit will help to provide the resources and optimal solutions to enhance the overall fitness business ecosystem. The principle of prioritizing best-in-class solutions within the fitness industry is key for this partnership. The analogy comparing the fitness business to the human body, where passion represents the heart and finance symbolizes the nervous system, gains significance when applied to the emphasis on best-in-class fitness solutions.

These solutions act as the lifeblood, sustaining the entire operation and ensuring its vitality and longevity. A business ecosystem equipped with best-in-class fitness solutions highlights the importance of curating a diverse and top-tier range of fitness equipment, technology, and services. NovoFit provides fitness equipment and technology solutions to a broad market, from franchises to independent gyms. They emphasize the versatility and depth required to offer best-in-class fitness solutions.

Given the dynamic and evolving nature of the future of fitness, a commitment to excellence and a continuous pursuit of the best-in-class equipment and technology remains essential for catering to a diverse clientele.

Summing Up The Future of Fitness

These fitness industry insights provide a multi-faceted approach to fitness entrepreneurship with tools for success. Entrepreneurs must understand and utilize a demographic, financial acuity, strategic partnerships, and best-in-class fitness solutions. Strategic fitness partnerships can help businesses capitalize on the future by integrating digital fitness and fitness technology easily.

As we navigate this dynamic terrain, utilizing expert guidance can help to with accelerate adaptation, collaboration, and gain a holistic understanding of the multifaceted aspects of fitness and wellness. These insights serve not only as a guide for industry professionals but also as a source of inspiration for fostering innovation and resilience within the future of fitness.

Ready to learn how to take advantage of the Fitness Evolution by implementing these trends? Let us help you navigate the evolution of the fitness industry, help you utilize your data, and adopt virtual technology to develop your digital technology strategy. Email us: INFO@WEXER.COM.

About NovoFit

NovoFit provides customized fitness solutions and has access to global fitness brands for the commercial, wellness, performance and functional training markets in Australia and the Asia-Pacific markets.

For More Information:

Paul Bowman

Adam Lewit on LinkedIn

The post Fitness Evolution: Industry Trends and Best Practices   appeared first on Wexer.

We also feature a recent interview about the 2024 hospitality trends with Paul Bowman, CEO at Wexer, and Joe Berselli, Senior Director of Global Hospitality from Core Health and Fitness. Joe’s role at Core Health and Fitness is to position the company as leader in the global hospitality fitness industry.

See how microtrends are driving guest experiences in this article about how macro wellness trends are redefining fitness and wellness in hospitality, and learn how how these trends are crucial for building customer loyalty and enhancing the guest experience.

The Driving Force For Hospitality Trends: Guest Loyalty

In the current hospitality climate, customer loyalty has emerged as the paramount factor. Enhancing the guest experience is pivotal in cultivating this loyalty. Incorporating diverse fitness and wellness options significantly elevates the guest experience, making their stay memorable and encouraging word-of-mouth promotion. Notably, 60% of hospitality content now prioritizes wellness, aligning with guests’ desires to relax and feel rejuvenated during their stay.

Evolving Guest Expectations In Hospitality Trends

Today’s travelers expect more than just a comfortable bed. They seek a holistic experience that caters to relaxation, de-stressing, and fitness within their limited schedules. Short, efficient workouts, such as 30-minute sessions, are increasingly preferred. This trend has led to the adaptation of booking systems, offering greater customization with fitness and wellness experiences.

Integrative Hospitality Trends To Enhance Guest Fitness & Wellness Experiences

The hospitality industry is responding with strategies to deliver fitness and wellness solutions:

1. Upgraded Fitness Facilities

 Many hotels are reimagining their spaces, transforming traditional fitness areas and underutilized meeting rooms into dynamic wellness zones. For instance, some chains are converting meeting rooms into small group exercise spaces, perfectly catering to company meetings and travel needs. These spaces allow for higher utilization, with guests rotating workouts on equipment like the Stairmaster 4G, significantly increasing guest rotation compared to traditional treadmill facilities.

2. In-Room Fitness Options

The demand for privacy and convenience has spurred the growth of in-room fitness offerings. Hotels are now designing rooms with dedicated fitness corners, spanning 10-20 square feet, allowing guests to exercise in the privacy of their own space. This trend reflects a deeper understanding of guest preferences for personalized workout experiences.

 

“The hotel room is not just a place you sleep, shower, eat, and work anymore. Guests want to relax, de-stress, and workout by consuming digital fitness and wellness content in the hotel or their room in 25 minutes or less. ”

~ Joe Berselli-Senior Director of Global Hospitality from Core Health and Fitness ~

3. Cultural Sensitivity and Personalization

Cultural differences play a crucial role in shaping fitness and wellness offerings. Hotels are increasingly tailoring their services to accommodate varying cultural needs, ensuring a more personalized and comfortable experience for all guests. This approach not only enhances guest satisfaction, but also reflects a commitment to inclusivity and respect for diverse backgrounds.

4. Technological Integration and Content Relevance

The integration of technology in fitness and wellness is a cornerstone of this transformation. Smart in-room technology, digital fitness content, and health-tracking devices are becoming standard amenities in modern hotels. These innovations offer guests seamless and customized wellness experiences at their fingertips.

Check out the 2024 Hospitality Trends and watch the interview with Paul and Joe to learn insightful and comprehensive analysis for the hospitality sector. The emphasis on enhancing guest experiences through personalized fitness and wellness offerings is a testament to the sector’s commitment to evolving with consumer preferences and technological advancements, ensuring not just customer satisfaction but also loyalty and advocacy.

Ready to learn how to take advanatage of the 2021 Hospitality Trends? Let us help you utilize your data, virtual technology, and AI to develop your fitness and wellness hospitality content strategy. Email us: INFO@WEXER.COM

For More Information: contact Joe Berselli at LinkedIn.

Podcast Episode 29

The post 2024 Hospitality Trends: Fitness & Wellness Elevates Guest Experiences and Loyalty appeared first on Wexer.