nba jerseys cheap The opportunity for Well-being Services in India – Kartik Sood – THOT HEALTH

The opportunity for Well-being Services in India – Kartik Sood

 

The following document contains a potential Business Plan and proposal for a startup pertaining to the wellness & well-being industry in India. It also includes a detailed outlook about the Industry and how to penetrate it.

Executive Summary (Done in reference to Cigna 360 Wellbeing Survey)

  • Opportunity
  • Problem Summary:
    The 5 Key areas of Wellbeing that were used to track and identify the problem were Physical, Family, Social, Work and Finance.

The Following Problems were discovered.

  1. India is at the head of the index with an overall score of 70.4
  2. Nearly 9 in 10 Indians suffer from stress.
  3. 95 per cent of Indian millennial between the age group of 18-34 years are stressed compared to the global average of 86 per cent.
  4. One in eight Indians have serious trouble in dealing with stress but nearly 75 per cent of the Indian respondents said they don’t feel comfortable talking to a medical professional about their stress. Consultation cost was cited as one of the biggest barriers to seeking professional help.
  5. A whopping 87 per cent of the respondents said that workplace wellness programmes are important in choosing between two potential employers. And India is doing well in this front. About half the respondents reportedly said that they have received support and are participating in a workplace wellness programme.

Introduction & Definitions:

Human well-being is the recognition that everyone around the world, regardless of geography, age, culture, religion or political environment, aspires to live well. Well-being is not necessarily bound by income; rather, it is an individual’s thoughts and feelings about how well they are doing in life, contentment with material possessions and having relationships that enable them to achieve their goals. Many factors impact upon an individual’s ability to live well including war, conflict, social fragmentation, inequality, poverty, malnourished as well as access to resources.

For the past half century, western societies have used a narrow definition of economic growth as the route to development. Growth has become an end in itself. As a result, the true meaning of development has been lost. Rather than an end goal, development should be viewed as a process towards an improved state of existence for humanity and the ecosystem.

The concept of well-being, with its multidimensional character, is far better suited to describe this improved state. Good, enjoyable, and fulfilling lives cannot be achieved through industrial output alone. Indeed, such output can easily endanger human well-being, leading to the deterioration of the social relationships and environmental balance upon which well-being depends.

Definitions

Well-being is understood as a state of health, happiness and/or prosperity. In a broad understanding, well-being is living a good life with which one is satisfied.

Well-being and deprivation can be considered representing different sides of the same coin.

“Well-being is a state of being with others, where human needs are met, where one can act meaningfully to pursue one’s goals, and where one enjoys a satisfactory quality of life”.

“Well-being is most usefully thought of as the dynamic process that gives people a sense of how their lives are going through the interaction between their circumstances, activities and psychological resources or ‘mental capital”.

Well-being is an intangible concept of several human dimensions. There have been many studies of well-being that have been accumulated over the years, and there exists an evidence of a flowering of new interests. Well-being can be defined as an expression of life satisfaction, as a way to influence the quality of society and its citizens.

How can human well-being be measured?

Human well-being is measured by combining facts and figures with indicators that have a bearing on people’s lives. By measuring Gross Domestic Product (GDP), wealth, occupation and housing, and then balancing these with quality of life indicators such as health status, employment rate, work/life balance, education, social connections, civil engagement, personal security and environment quality, a broader picture of an individual’s or country’s well-being can be obtained.

The King of Bhutan stated in 1972 that the goal of happiness was more important than the goal of wealth. His belief that society should be measured by the health, education and contentedness its people, rather than material indicators, led to the development of Bhutan’s Gross National Happiness Index. By measuring the value of the nation’s natural, human, social and cultural wealth rather than the manufactured and financial capital, Bhutan has become a role model for the rest of the world, so much so that in April 2012, the nation hosted the United Nations Happiness and Well-being conference.

Another idea is to directly ask people about their well-being. Recently investigated survey measures of ‘subjective well-being’ (SWB) have primarily focused on measuring aspects of SWB such as happiness and life satisfaction. The basic problem faced by single-question SWB measures (such as happiness or life-satisfaction questions) is that they do not manage to capture all the well-being aspects that enter into preferences (for recent evidence, see Benjamin et al. 2012 and 2014a). Indeed, a consensus is emerging among researchers that well-being is multi-dimensional, and more than one survey question is needed to assess it.

Some governments have begun adding SWB questions to national surveys and expressing intentions to use SWB measures to guide policy. For example, the UK Office for National Statistics (ONS) added the following questions to their national Integrated Household Survey:

Overall, how satisfied are you with your life nowadays?

Overall, how happy did you feel yesterday?

Overall, how anxious did you feel yesterday?

Overall, to what extent do you feel the things you do in your life are worthwhile?

But it is not clear that these four questions – or for that matter, any small number of questions taken from the academic literature – are sufficient to adequately measure well-being.

Perspective on Well-Being

Underlying any concept of quality of life and well-being is a worldview, which provides a perspective on the nature of man, his place in the universe, and on the nature of the universe. For example, there is an exclusively materialist view in the Indian tradition according to which fulfillment of desires, particularly of sensory nature, is the sole criterion of well-being that leads to pleasure orientation. In ancient India, the extreme protagonist of this view was Brhaspathi.

Chaarvaaka epistemology is thorough going positivism, which admits the reality of whatever we can perceive with our senses and deny the reality of whatever, we cannot so perceive. Chaarvaaka metaphysics denies the existence of a transcendent Self or Consciousness, known as Atman in the Indian tradition. Followers of this philosophy considered being conscious as the peculiar characteristic of living human body, which lasts as long as the physical parts are healthy and stay together in a certain form. Hence they considered consciousness as an emergent quality and self-awareness as an adventitious property of physical body itself.

A second perspective, which is quite opposed to this and lying on the other end of the spectrum, is rooted in transcendental view of reality. This is the transcendent perspective. It is the ideal upheld by the Indian tradition as the ultimate in well-being. Happiness and well-being according to this view is subjective in the sense that they do not depend on any objective conditions of reality, including one’s state of body-mind also. Further, transcendent view is rooted in an all-encompassing universal vision, which aspires for the well-being of everyone in the universe3. The basis or foundation of the transcendental view is the holistic vision, which the ancient sages and seers had. That vision was born out of experience of pure consciousness, shuddha chaitanya, as the substratum of phenomenal reality. This vision is the essence of Vedic and Upanishadic traditions of India. The epistemology and metaphysics that supports this perspective will be discussed in the next section.

A third perspective that lies in between the hedonistic and the transcendent perspectives, is the collectivist perspective. The collectivist perspective takes into account the fact that there are enormous individual differences in the needs and aspirations of people. While some are purely hedonistic in their approach and a few are spiritual in nature, a vast majority falls in between. It is they who might fall into the abyss of hedonism or scale the peak of transcendence, depending on which worldview prevail upon them. Keeping this vast majority in sight the Indian seer and sage established a social framework and ground rules for good life, which ensures the well-being of all.

 WHAT IS HUMAN WELL-BEING?

Using statistics to measure global well-being, the global distribution of human well-being is unequal. Statistics are one way of measuring the disparities in well-being and an important tool to determine action by government and non-government organisations (NGOs) as a response. There are many statistics used to measure well-being that can be grouped into the following categories: social, health, economic, environmental, political and technological.

Market Summary:

Well-Being & Wellness Industry

The wellness industry in India has rapidly evolved from being a highly unstructured ecosystem in the 90s to a more active and growing sector today. With health and wellness being becoming mainstream, this industry expects a massive boom in the coming years. Recent estimates by FICCI and EY suggest that the industry will grow at a CAGR of nearly 12% for the next 5 years, and reach an estimated high of Rs 1.5 trillion by 2020.

Rise in disposable incomes and increasing prevalence of non-communicable diseases are some factors driving this growth.

Wellness refers to complete well-being that goes beyond any disease-free neutral point – in body, mind, and spirit. India is known as the land of Ayurveda, yoga, and alternative medicines, branches that have evolved through the years. However, they aren’t accustomed to giving much credence to wellness. We have had a tendency towards sick-care and treatment versus preventive care and maintenance of overall well-being. Some part of this is driven by the fact that the health insurance policies do not target wellness but hospitalization and treatment. Over the last few years, there has been a paradigm shift in this trend, spurred by youngsters in their 20s and 30s becoming more conscious. They not only want to look good but feel good too, and this has led to a focus on eating, working and living healthy. Everything from diet, weight, physical activities, and sleep can now be tracked and tuned.

The result? An influx of gyms, fitness apps, and other such technologies to help achieve these fitness goals.

Mental well-being, also a crucial component of wellness has been brushed under the carpet for too long. Thanks to work and life stresses, today’s generation is highly prone to anxiety and stress related issues.  Recently, there has been lot more visibility to this area and youngsters and people in the 30s and 40s are now actively seeking help to address these concerns.

This is a welcome change and I am hopeful that the stigma attached to mental health is removed and people treat is on the same footing as a physical health issue.

All these factors present significant opportunities for startups and businesses in the area of overall wellness with new models disrupting this sector. One major trend we’re seeing is consumer-centricity, with on-demand and customization being key factors. Wellness players are shifting their focus to more personalized products and services. Wellness-based apps, for instance, have been one of the fastest-growing categories offering anytime-anywhere information tailored to the user’s profile. The on-demand assumption also means wellness is now served at home or at work – wherever users wish to have these delivered to them.

The Well-Being Market

Over the past several years the corporate well-being market has exploded. The Global Wellness Institute estimates that it’s already worth more than US$43 billion worldwide and growing at almost twice the rate of inflation.

Many factors are behind this growth. For instance, it’s well documented that employees who exercise frequently take fewer sick days off. About 50 per cent of medical costs are related to illnesses or conditions that could be avoided with minor lifestyle changes. In many countries, employees are just working too many hours, often under stressful conditions. US workers average about 41 hours per week and 20 per cent work more than 45 hours. The estimates are even higher in the United Kingdom.

We take work home and we email and check messages at nights and on weekends. And being “on” for so many hours doesn’t necessarily contribute to productivity. According to new research I just conducted with LinkedIn, approximately 20 per cent of our time is wasted on messages and communications that don’t directly contribute to our jobs.

Over the last 30 years consumers have drastically reshaped the agenda around health and wellness. And by the way, huge business have been created by companies that have anticipated this and leveraged it in fitness, in apparel, in vitamins, in spas, for example.

Consumers have made the connection between heath and quality of life, and that has spawned a huge industry–$1.2 billion in wellness products. Consumers now expect food products to be healthy, they expect their footwear to supportive and comfortable, and they expect their office furniture to be ergonomic. Products that have the attributes of health, healing, comfort, protection have value to us. We can roll all of that into ‘prevention’ or personal health, or well-being. Whatever we call it, it’s self-directed care, it’s focus on how our lifestyles and behaviors impact our long-term health and longevity.

Consumers shape the trends in health and wellness and there has been a tipping point in the realization that taking better care of ourselves with healthier diet, better sleep, more exercise, and allowing ourselves the time to rest and recharge–all of these things combine to not only improve immediate quality of our lives, but also the quality of our health long term. That’s the market of prevention. Consumers get it now so marketers can market to it. Consumer attitudes about stress are indeed changing.

Health & Well-Being Programs

Health and well-being programs (HWP) are interventions put in place by employers to improve the lifestyle choices and health of workers as a way of preventing chronic illness. HWPs may also target organisational and environmental practices to improve the overall health and safety of the workplace. Increasingly these programs are recognized for potentially influencing worker productivity and performance at work. This is discussed in depth later. Workplace health promotion (WHP) is an alternative term used to describe the interventions to improve individual worker and organisational health and well-being.

The Luxembourg Declaration on Workplace Health Promotion in the European Union  describes WHP as ‘the combined efforts of employers, employees and society to improve the health and well-being of people at work. This can be achieved through a combination of improving the work organisation and working environment, promoting active participation, [and] encouraging personal development’. The European Agency for Safety and Health at Work (2010, p.1) has since added ‘enabling healthy choices’ as a fourth action. The term ‘wellness’ is emerging as another way of communicating the idea that workplace health and well-being is more than just about an employee’s health.

EXAMPLES OF HEALTH AND WELL-BEING PROGRAMS

The breadth of HWPs found in workplace settings is extensive and some examples are provided below.

Lifestyle programs target individual workers in the workplace and may cover:

> exercise and general fitness (yoga, tai chi, relaxation classes, massage therapy)
> obesity and weight loss
> stress
> nutrition
> work-life balance
> reducing/quitting smoking, alcohol and drug use
> healthy cooking
> alternative medicine and holistic practices
> health information e.g. online guidance and information sheets
> assistance with managing personal health issues e.g. cancer and depression
> health screening and risk assessments e.g. weight, blood glucose levels, blood pressure and cholesterol
> counselling

THE STATED BENEFITS OF HEALTH AND WELL-BEING PROGRAMS

Summary of recognized benefits The World Health Organisation states that ‘addressing diet and physical activity in the workplace has the potential to improve the health status of workers; contribute to a positive and caring image of the company, improve staff morale; reduce staff turnover and absenteeism; enhance productivity; and reduce sick leave, health plan costs and workers’ compensation and disability payments’. The UK Government’s Health, Work and Wellbeing Programme (2008, p.10) endorsed the findings that ‘being in work is good for health, and worklessness leads to poorer health’ and acknowledged there was more that could be done to promote the benefits of work to health for workers, employers, healthcare professionals, society and the economy.

Put simply, happy and healthy workers perform and they perform well and to the benefit of all. This ultimately means fewer absences, reduced turnover, reduced costs all round, not to mention increased productivity, morale, loyalty, and increased profits.

The benefits that are represented throughout Health & Well-Being Programs:

> increased productivity
> improved staff health and well-being
> staff who feel valued
> increased staff morale, satisfaction and motivation
> decreased stress and other work-related illness
> reduced sick leave
> fewer workers’ compensation claims
> reduced worker turnover
> increased return on training and development investment
> improved corporate citizenship and image 25
> increased ability to attract new employees
> improved industrial relations
> improved alertness and concentration among staff
> reduced risk of accidents
> reduced long term health problems
> reduced health-related litigation.

Other research (Wellness Proposals, 2009) reports that workplace wellness programs have the following benefits:

> Reduced absenteeism:

It has been shown healthier employees spend fewer days away from work due to illness, saving organisations thousands, even millions, of dollars on down time and temporary employment. Additionally, because good health typically carries over into better family choices, your employees could possibly miss less work caring for sick family members.

> Controlled increasing health care costs:

Today, employers have a vested interest in health-related issues and reducing unnecessary medical costs that consume corporate profits and employee pay checks. For many companies, medical costs can consume half of corporate profits, or more.

> Improved productivity:

While it is not as easily measured as the increase in health care costs, improved employee morale and productivity plays a big role in the success of a company or business.

> Reduced injuries:

Healthy employees with less risk factor are at a lower risk for injury than those unhealthy employees with more risk factors. Classes are a popular means of trying to prevent injury, including exercise classes, smoking cessation courses, back care programs and stress management lectures.

Competition

We have two camps of competitors: First, there are a lot of therapists, coaches, mind-body stress-reduction programs and centres. They are great but they aren’t scalable and they are too temporary and time consuming. The other camp, the bulk of the market, is focused on the “end stage manifestation of stress,” which means, “You are already stressed so here is how to relax and calm yourself.” These comprise tactics to calm yourself: breathing, yoga, relaxing pictures and music, remedies, even social apps to calm yourself, to track your lack of calm or to pace your breathing.

Plan:

As a start-up in the field of health & well-being the following will be the objectives of the start-up:

Our objectives:

> improve employees’ physical health and well-being

> improve employees’ mental health i.e. an increase in concentration, morale, motivation, team bonding, and improved staff relationships and job satisfaction by providing an environment dedicated to employee well-being

> improve productivity

> reduce illnesses caused by poor lifestyle

> reduce stress

> reduce absenteeism.

Chapter 3

(Methodology, Procedure, Process Design & Solution)

 Research Methodology

The process used to collect information and data for the purpose of making business decisions. It is a way to solve the research problem systematically. It involves the various steps required to find out the solution of a required problem. It also clarifies the logic behind the study. The methodology may include publication research, interviews, surveys and other research techniques, and could include both present and historical information.

Research Design

Research design is defined as a framework of methods and techniques chosen by a researcher to combine various components of research in a reasonably logical manner so that the research problem is efficiently handled. It provides insights about “how” to conduct research using a particular methodology. Every researcher has a list of research questions which need to be assessed – this can be done with research design.

The sketch of how research should be conducted can be prepared using research design. Hence, the market research study will be carried out on the basis of research design.

The design of a research topic is used to explain the type of research (experimental, survey, correlational, semi-experimental, review) and also its sub-type (experimental design, research problem, descriptive case-study). There are three main sections of research design: Data collection, measurement, and analysis.

The type of research problem an organization is facing will determine the research design and not vice-versa. Variables, designated tools to gather information, how will the tools be used to collect and analyse data and other factors are decided in research design on the basis of a research technique is decided.

Research Methodology

Research Methodology used: A survey was conducted with a sample size of 50, which had questions related to general health and well-being of a corporate employee, the reasons behind it and what all are the consequences occurring because of such lifestyle.

Survey Questions:

The survey was divided into 4 parts

Part 1: Introduction and general health questions. This part included the basic introduction (name, age) and some questions on their health and fitness and how they have been feeling (Emotionally and physically) for the past couple of months.

Part 2: This part had 8 questions which asked how satisfied they were with certain aspects of their life (Mental Well-being, relationships with friends and family, physical health, life, if they thing there is a certain purpose in their life and if they are going according to it)

 Part 3: This next part had questions about how they were feeling for the past couple of weeks (Questions like if they felt tired for no reason, were they depressed, were they nervous around people, were they suffering from anxiety)

 Part 4: This part had questions related to stress at workplace, how many hours a day were they working, what were the causes of their stress, and how was it affecting their lifestyle.

Chapter 4:

Interpretation & Analysis

Survey Interpretation

 1. Age Group

  1. Over the last 12 months would you say your health has been….?

 

Majority of the responders feel that they are taking care of themselves and are in a fairly good shape when it comes to their overall health, while a small percentage is struggling with their overall health.

 

  1. Do you have any long-term illness, health problem or disability that limits your daily activities or the work you can do?

Almost all the responders don’t have any long term illness, health problem or disability that limits their daily activities or the work they can do

 

  1. How would you rate your quality of life in relation to your psychological or emotional well-being?

Majority of people rate the quality of life that they are living at very hgh standards and    wherby some are just content with it, not exacty satisfied with their psychological or emotional well-being.

 

  1. How would you rate your level of physical fitness in comparison with others of your age?

 

There is a mixed response when it comes to rating their overall fitness when compared to others their own age, a small percentage is really unhappy with their physical fitness, while majority are merely satisfied with their physical fitness.

 

 

 

( The next set of Questions are rating based, ratings 1-5. Rating 1 is not at all satisfied while rating 5 is very satisfied. )

 

 

  1. How satisfied are you with your mental well-being?

  

 

Majority of people are satisfied with their mental state of minds and are really happy with it, which some are in the middle where they are neither satisfied nor dissatisfied

 

  1. How satisfied are you with your relationships with friends? 

Most of the respondents feel happy with their relationship when it comes to friends and colleagues.

 

  1. How satisfied are you with your physical health?

  

Most of the respondents are in middle here where they don’t know how they feel about their physical health, about 45% are happy with their physical health, while 14% are not at all satisfied.

 

  1. How satisfied are you with your life these days?

 

Overall almost everyone is satisfied with how their life is going at this moment, there is a small percentage of people who aren’t happy as well.

 

  1. To what extent do you feel that the things you do in your life have purpose?

Most of the respondents feel that their life has a specific purpose while some are in-between where they are still undecided.

 

  1. To what extent do you feel that the things you do in your life are worthwhile?

  

Almost everyone feels as if there life is worthwhile and they are happy with it.

 

  1. In the past four weeks, about how often did you feel tired for no good reason?

 

Most of the respondents feel that in the past few weeks, they have been felt tired for no good reason at all, while some feel they don’t feel tired at all.

 

  1. In the past four weeks, about how often did you feel nervous?

Majority of the respondents feel that in the past few weeks there has been times where they have felt really nervous which has resulted in them struggling with daily activities.

  1. In the past four weeks, about how often did you feel so nervous that nothing could calm you down?

Majority of the respondents are pretty calm and okay with things in their life.

  1. In the past four weeks, about how often did you feel hopeless?

Some of the respondents end up feeling hopeless with stuff related to their life

  1. In the past four weeks, about how often did you feel restless or fidgety?

Majority of the respondents often feel restless and fidgety during their day.

  1. In the past four weeks, about how often did you feel so restless you could not sit still?

People were comfortable and had no trouble with anxiety or panic attacks during the day.

  1. In the past four weeks, about how often did you feel depressed?

A good number of respondents feel depressed during their day

  1. In the past four weeks, about how often did you feel that everything was an effort?

Majority of the respondents had trouble doing basic tasks as they felt a lot of effort was required to do even the basics of tasks.

  1. Do you feel Stressed at work?

A huge majority of people felt that they were stressed at their workplace

  1. Roughly how many hours a day do you spend at work?  

About 65% respondents spend close to 8+ hours at their workplace

  1. If “Yes”, could you please select the symptoms you experience due to stress (select whichever is applicable)

Headaches, Depression and loss of appetite are the most common symptoms that people experience due to stress at their workplace.

  1. How long have you had this particular job stress?

About 52% of the people who responded have had their job stress for more than 4 months, even stretching to a year.

 

  1. How would you rate the level of your job stress?

 

The level of stress that respondents suffer ranges from moderate, severe and to extent even extreme in some cases.

  1. Please select the reasons for stress at workplace

Long working hours, too much work and repetitive and monotonous work are the most common reasons for stress at a workplace.

 

  1. Do you feel you have a healthy work-life balance?

  

Majority of people feel that they don’t have a healthy work life balance while a good number are still undecided with it.

 

  1. Over the past 12 months have any of the following areas brought you under high levels of stress? Please tick all that apply

Additional causes of stress are Work load and responsibilities, Unemployment, Financial worries.

 

 

  1. Have any of the following behaviours ever been part of your lifestyle?

Bad habits that people have picked up due to excessive stress are smoking, drinking, eating in excess and an inactive lifestyle.

 

  1. Have you tried to reduce or manage stress in your life over the last 12 months by doing any of the following?

Hobbies, Meditation, taking holidays are the most common remedies to manage stress

 

 

Chapter 5

(Findings, suggestions and conclusions)

  • The major target of this survey is corporate employees of the age group 20-40 years.
  • Majority of the responses are from the group 25-30 years, making it the most popular age group.
  • Majority of people feel that their health for the past 12 months has been fairly good while around 30% feel that their health hasn’t been that good.
  • Around 70% respondents feel that their mental and emotional well-being has been good while around 30% are just barely satisfied.
  • Around 40% are very happy with their physical fitness, while 40% are barely satisfied and 20% not happy with their fitness level when compared to others their age.
  • About 30% respondents are content with their mental well-being and feel there is a lot to improve on that front.
  • About 54% feel they have a good relationship with their family, friends and colleagues.
  • About 54% and not satisfied with their overall physical fitness levels.
  • About 15% are really dissatisfied with the quality of life they are living.
  • About 70% feel that their life has a specific purpose that they are following.
  • 80% feel that their life is worthwhile.
  • About 78% respondents feel tired during their day for no apparent reason.
  • About 60% feel nervous during their day.
  • 64% feel that they are calm and have a control over their life throughout the day.
  • 45% respondents feel hopeless during the day.
  • A huge 72% feel restless and fidgety during the day.
  • 52% feel depressed during their day.
  • About 54% feel most of the things they do requires extra effort.
  • 62% respondents feel stressed at their workplace.
  • Hours per day at work
    – 6 to 8 hours: 34%
    – 8 to 10 hours: 36%
    – 10 to 12 hours: 22%
    – 12+ hours: 8%
  • The most common symptoms of stress at workplace are
    – Frequent Headaches
    – Depression
    – Loss of appetite
    – Anxiety attacks
    – Insomnia
  • Duration of Job Stress
    – Less than a month: 23%
    – 1 to 3 months: 23%
    – 4 to 6 months: 28%
    – 6 to 1 year: 16%
    – More than 1 year: 10%
  • About 80% feel that the level of job stress that they have is mild to moderate with a majority being moderate, while 5 per cent suffer from severe job stress.
  • The most common reasons for stress at workplace are
    – Long working hours
    – Too much workload
    – Work being repetitive and boring
    – Not sufficient time to complete work
    – No breaks in between
  • Around 55% feel they don’t have a Healthy work-life balance while 16% haven’t been able to figure this balance out.
  • Other reasons for high stress are:
    – Work load and responsibilities
    -Unemployment
    – Financial future
    – Relationship problems
  • Unhealthy Behaviours taken up due to high stress
    – Smoking
    – Drinking
    – Eating Excessively
    – Couch potato lifestyle
  • Initiatives taken to reduce stress:
    – Meditation
    – Yoga
    – Exercising
    – Taking sick leaves

Service Provided:

The Service which will be provided will be shaped in the way of employee Engagement activities where they will be provided with courses and training about Human Well-being, both the Physical and Mental aspect of it.

The main aim of the service would be to counter mental and physical stress at the workplace, increase productivity of the employees, engage employees and help with their corporate lifestyle.

Segmentation, Targeting & Positioning:

Segmentation:

  1. Demographic Segmentation:

Age Group: 24-50 years

Considering the major office going population is in the age bracket of 24-50 years, the major segmentation of the service would be this group.

The segmentation can be done in two groups

24-35 years: This is the age group where people are trying to establish themselves in the workplace, so they have immense pressure of deadlines, from their superiors and also to prove themselves and do well in life.

35-50 years: This age group consists of people who are in decision making positions; hence they are stressed at all times.

  1. Psychographic Segmentation:

Segmenting corporate employees on the basis of their behaviour and lifestyle, Targeting people with a bad lifestyle which includes huge amount of working hours, stress and people not living a healthy and comfortable lifestyle. Also targeting people who are suffering from anxiety, depression, and other health related problems due to their corporate lifestyle.

  1. Geographic segmentation

For starters, this service would be better suited to major cities like Delhi, Mumbai, Bangalore, Pune where majority of people are working adults and suffer from these problems on a daily basis.

Targeting:

Business Industry:

The major bulk of this service would be targeted to major corporates where employee strength will be more than 100+, this would help in getting varied feedback as well as different group of people under a single workplace.

Positioning:

This service would be positioned as a Health and Well-being program. Health and well-being programs (HWP) are interventions put in place by employers to improve the lifestyle choices and health of workers as a way of preventing chronic illness.

Given the data statistic gathered from Cigna 360 well-being survey, it said that about 87% of respondents said that Health and Well-being programs helped them and they received a lot of support from them.

Positioning
Beneficial Positioning: The service could be positioned in the minds of customers by attributing all the benefits of the well-being programs. Corporates can be targeted and the benefits of the program will be conveyed, plus the promise of what the program will help them achieve.

SWOT Analysis

Strength

  • Unique corporate well-being programs designed to suit various clients.
  • A team of well-established professionals.

Weakness

  • Difficult to break in this competitive market
  • Over dependency of Corporates on Gyms and fitness institutions and converting them into courses and training plans.
  • Not a well known concept

 Opportunities

  • More and more businesses are coming to see the benefit of investing into a corporate wellness and well-being plan for their employees, and so there are plenty of opportunities available in this industry.
  • Once established in the industry, it will be very easy to gain market share.

Threats

  • The threats that we would likely face while starting or running this business are; a downturn of the economy, as this would see several companies cutting back their investments into corporate well-being programs for their employees.
  • Gyms and Fitness Institutions.

Examples of Industries to be targeted:

IT:

  • TCS- Tata Consultancy Services
  • Infosys
  • Wipro
  • HCL Technologies

The Big 4 Consulting firms:

  • KPMG
  • Deloitte
  • E&Y
  • PWC
  • The reason for this targeting is because the employees at these companies generally have very long working hours and suffer very high stress levels as well

Annexure

Questionnaire on Human Well-being & Stress Management

  1. Name

 

  1. Age

 

 

  1. Over the last 12 months would you say your health has been….?
  • Very good
  • Fairly good
  • Not very good
  • Not well at all

 

  1. Do you have any long-term illness, health problem or disability that limits your daily activities or the work you can do?
  • Yes
  • No
  • Don’t Know

 

  1. How would you rate your quality of life in relation to your psychological or emotional well-being?
  • Very good
  • Good
  • Alright
  • Bad
  • Very Bad

 

  1. How would you rate your level of physical fitness in comparison with others of your age?
  • Very Good
  • Good
  • Alright
  • Bad
  • Very Bad

(The next set of questions are rating based, ratings 1-5 with 1 being not at all and 5 being very)

 

  1. How satisfied are you with your mental well-being?
  2. How satisfied are you with your relationships with friends?
  3. How satisfied are you with your physical health?
  4. How satisfied are you with your life these days?
  5. How optimistic do you feel about the next 12 months?
  6. To what extent do you feel that the things you do in your life have purpose?
  7. To what extent do you feel that the things you do in your life are worthwhile?
  8. In the past four weeks, about how often did you feel tired for no good reason?
  • None of the time
  • Some of the time
  • Most of the time
  • All the time

16. In the past four weeks, about how often did you feel nervous?

  • None of the time
  • Some of the time
  • Most of the time
  • All the time

17. In the past four weeks, about how often did you feel so nervous that nothing could calm you down?

  • None of the time
  • Some of the time
  • Most of the time
  • All the time

18. In the past four weeks, about how often did you feel hopeless?

  • None of the time
  • Some of the time
  • Most of the time
  • All the time

19. In the past four weeks, about how often did you feel restless or fidgety?

  • None of the time
  • Some of the time
  • Most of the time
  • All the time

20. In the past four weeks, about how often did you feel so restless you could not sit still?

  • None of the time
  • Some of the time
  • Most of the time
  • All the time

21. In the past four weeks, about how often did you feel depressed?

  • None of the time
  • Some of the time
  • Most of the time
  • All the time

22. In the past four weeks, about how often did you feel that everything was an effort?

  • None of the time
  • Some of the time
  • Most of the time
  • All the time

 

23. Do you feel stressed at work?

  • Yes
  • No

24. Roughly how many hours a day do you spend at work?

  • 6-8 Hours
  • 8-10 Hours
  • 10-12 Hours
  • 12+ Hours

25. If “Yes”, could you please select the symptoms you experience due to stress (select whichever is applicable)

  • Frequent headaches
  • Depression
  • Anxiety Attacks
  • Insomnia
  • Loss of appetite
  • Other (Please specify)

 

  1. How long have you had this particular job stress?
  • Less Than A Month
  • 1-3 Months
  • 4-6 Months
  • 6 months – 1 year
  • More than 1 year

 

  1. How would you rate the level of your job stress?
  • Mild
  • Moderate
  • Severe
  • Extreme

 

  1. Please select the reasons for stress at workplace
  • I have very long working hours
  • I have too much work allotted to me
  • I have too little work allotted to me
  • My work is repetitive and monotonous
  • I don’t have sufficient time to complete my work
  • I don’t have enough rest breaks to relax in between work

 

  1. Do you feel you have a healthy work-life balance?
  • Yes
  • No
  • Maybe

 

  1. Over the past 12 months have any of the following areas brought you under high levels of stress? Please tick all that apply
  • Work load or responsibilities
  • Other anxieties about work
  • Unemployment
  • Financial worries
  • Relationship problems
  • Your own health
  • Health of or need to care for a family Member
  • Other problems / issues with a close family member

 

  1. Have any of the following behaviours ever been part of your lifestyle?
  • Smoking
  • Drinking alcohol to excess
  • Being dependent on (addicted to) prescription drugs
  • Eating excessively
  • Eating too little
  • An inactive (couch potato) lifestyle

 

  1. Have you tried to reduce or manage stress in your life over the last 12 months by doing any of the following?
  • Taking a holiday
  • Reducing working hours
  • Taking sick leave
  • Giving time to a hobby or leisure activity
  • Meditation
  • Yoga
  • Exercising

References:

 

https://www.forbes.com/sites/jenniferrooney/2013/03/26/the-opportunities-that-exist-in-the-market-of-well-being-mequilibriums-jan-bruce/#189e59256230

http://www.businessworld.in/article/Wellness-Industry-In-India-What-Does-The-Future-Hold-/26-05-2018-149799/

https://www.insidehr.com.au/josh-bersin-wellbeing-hr/

https://academic.oup.com/heapro/article/26/suppl_1/i147/686692

https://education.gov.scot/parentzone/Documents/HealthandWellbeing3-18ImpactReport.pdf

https://www.firstpost.com/living/mental-health-and-the-workplace-time-for-indian-companies-to-take-employees-well-being-seriously-4428925.html

https://www.odi.org/global-health-and-wellbeing

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/354156/Global_Health_Strategy_final_version_for_publication_12_09_14.pdf

https://www.odi.org/our-work/health

https://www.theguardian.com/sustainable-business/health-wellbeing-environment-top-stories-2012

https://academic.oup.com/heapro/article/26/suppl_1/i147/686692

https://yourstory.com/2018/07/employee-health-wellness-corporate-india/

 

 

 

GLOBAL HEALTH AFFAIRS LITERACY MISSION

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