For the past weeks, have been staring a friend’s business card who is involved in the wellness sector. What’s most interesting about their practice is they are in a part of the wellness sector which also serves government customers. A space where you don’t usually think of contracting entities having influence. And yet, for some of the projects and trend-spotting which happens as a result of this initiative, one can almost see that they are very well positioned for the next version of what constitutes enterprise value.
It’s so what does it mean to use wellness as a transactional value item within a sector that usually he sees wellness described as “living long enough to get my pension?“ One can imagine that this can be solved, or at least alluded to, by looking at some of the wellness programs which have sprouted around government entities over the course of the past decade. From many of these groups, they are looking at the cost of health and life insurance, and developing ways to improve risk factors, and the resulting cost, by improving the general health of their populations. Insurance companies have jumped alongside this, doing as much as even helping to kickstart wellness activities for individuals and families, sometimes even tying premiums and deductibles to wellness outcomes.
But what about active wellness? What about that quantitative analysis that is made popular by devices such as the Apple Watch and Woop. What about the type of analysis or activity that can be found in groups on Strava who may work out as a part of taking a break between meetings, but there is still information that is of good value. What about these activities that can point to wellness?
Taking that a step further, you have some practitioners of various management philosophies who use wellness scores (not often called wellness, but they may be agreed of how you feel on that day and either a number or a set of words or even in emoji family), and then track that information to better understand the state of being psychologically as well as physically for a team. Such information points to a little bit better understanding of what it means to be healthy, well, versatile, etc. And also points to what can be calculated as another point of value for these enterprising teams and their respective organizations. If you will, if you’re not measuring it, then are you really getting well? And if you’re not getting well, does this point to other failures in business or project management which could’ve been mitigated by doing something as simple as taking a few of the meetings during the week and turning them into walking meetings?
My friend is looking at what it takes to be a profitable player in the wellness space towards government agencies. A posture is a very appropriate one given the last 24 months of lockdown, quarantine, and remote working. However, for enterprises to take advantage of what wellness programs like theirs offers, they may also need to re-allocate or re-designate value is something more than just the bottom line in profits. It may very well be the case that a certain number or percentage of profits might point to a healthy business, but a sick body of people working in that business. What if wellness were actually part of this measure of value? And what if moving forward didn’t mean having the most profit possible, but the best balance of profit and wellness?
Remnant Fitness did not compensate Avanceé, nor was consulted before the publishing of this piece.