Employee wellness crucial for corporate success: FITPASS Co-founder Akshay Verma
Verma said that prolonged periods of inactivity, such as sitting for long hours, can be as detrimental to health as smoking.
Investing in employee wellness isn't just a perk—it's a strategic move, Akshay Verma, Co-founder of fitness and wellness startup , said while emphasising on the importance of physical fitness in the corporate world.
Speaking at the second edition of YourStory's TechSparks in Mumbai, Verma stated that employers should consider their employees' well-being as a top priority.
"Everyone discussing business often mentions 'healthy'—whether it's for EBITDA, growth, or margins. However, it's not often considered in terms of the people driving it," remarked Akshay. "While people are now understanding the value of mental wellbeing, physical wellbeing has taken a back seat."
He highlighted that prolonged periods of inactivity, such as sitting for long hours, can be as detrimental to health as smoking. Akshay cited a WHO study to emphasise that chronic inactivity is one of the leading causes of employee burnout.
Verma also expressed his views on the current corporate policies related to wellness, noting that many of them focus more on managing illness rather than promoting wellness. Insurance coverage, for instance, is a reactive measure that can be utilised when employees get extremely ill. On the other hand, the employees are only provided with 15 days of sick leave throughout the year to recover.
Things are slowly changing. For example, the Indian government, according to the co-founder, was one of the first to realise the importance of incremental wellness and directed insurers to offer wellness programmes as inclusions or add-ons. Some health insurance plans also offer rewards for consistent participation in wellness programmes. Akshay said that FITPASS played an important role in bringing this to fruition.
FITPASS is a Delhi-based fitness membership service, offering access to 7,500 gyms and fitness establishments across 1,277 pin codes. It claims 52% of the market share in the fitness apps category in India.
Verma claimed that companies that used FITPASS to track and improve the health and well-being of their employees saw 43% less attrition. This was based on a study that the startup conducted with companies that have large employee bases.
(The copy was updated with additional information.)
Edited by Affirunisa Kankudti