Mindbody and ClassPass released its 2022 Mid-Year Wellness Trends Report, and in addition to the latest fads in the category, they uncovered a valuable piece of information for any business owner: Company culture will be more important than ever.
Today’s employment market is unique and difficult for organizations to navigate. According to a recent study by Frandata and IFA, nearly 90 percent of respondents reported franchisees are having trouble finding skilled workers, unskilled workers, or both. Another staggering figure: A recent McKinsey article claims 40 percent of employees are likely to leave their current job in the next three to six months.
Why the significant transition? “[During the pandemic], people had a really good look in the mirror, and they reprioritized,” according to Good Soul Hunting Chief Soul Officer Emma Barry. “It's not all about the dollar anymore. People want to know they matter.”
So, what can brands do to attract and retain high-quality talent in 2023? New research shows flexibility and company culture will be increasingly important. When looking at potential new employers, 42 percent say that wellness perks/benefits (corporate wellness programs) are an important part of their decision when making their final decision.
Additionally, 40 percent say corporate wellness programs motivate them to prioritize wellness more, which can help prevent burnout—something all too common these days.
The definition of wellness is changing. People experience wellness in different ways. One person might want to unwind with a calming yoga class or a massage, one person might unwind by getting their nails done, another might prefer to hit a sweat-inducing class. Wellness encompasses physical health, mental health, spiritual health, and more. In fact, 24 percent of Mindbody app users said they are likely to occasionally splurge on treatments including massages, infrared saunas, and nutritional health coaching to support their overall wellness routine.
“The reality is, if you don't focus on having a positive culture, you're not going to retain employees,” says The Lash Lounge Vice President of Operations Kristin Kidd. “The workforce has changed and if you don't change with it, you're not going to have a business that can grow.”
By offering diverse, well-rounded programs, 88 percent of professionals say they're more likely to recommend a workplace that supports their wellbeing.
For Mark Schlossberg, CEO and co-founder of PAINT Nail Bar, his company culture is staff-centric. “The client never comes first, nor should they come first. The staff comes first,” he says. “The staff is the heartbeat of the business—and it begins with the first interview. We differentiate ourselves by making clear exactly how we view their role and [reiterating] that they are foundational to the success of all that we do.”
To retain top talent, Schlossberg emphasizes PAINT Nail Bar’s onboarding process and employee benefits. “We over-train, over-support, and over-empower them without condition. Their families and children are equally important to ours. Our staff members know they are our priority, above all else. We make readily available to them opportunities for growth, fully paid time off, and an unlimited vacation policy.”
Similarly, Vanessa Yakobson, CEO of Blo Blow Dry Bar, knows the value of investing in her team with continuing education and fair compensation. “Blo has a brand promise: We’re here to make you shine. We deliver that promise to our guests as well as to our staff,” she shares. “We are focusing on creating opportunities for our team members to enhance their skill sets as Blo adds services to our mix. We also offer the opportunity to sell products and upgraded services to enhance their earnings.” Yakobson’s ultimate goal: “We want our team to shine in a fun environment where they feel valued and appreciated.”