Spa and wellness marketing company SpaFinder has launched a new corporate wellness division.

The new arm will look to cater for the workplace wellness industry, estimated by SRI International to be worth around US$30bn (22.6bn euro, £18.5bn) globally.

At the core of the new service will be its "Wellness Currency", which allows employers to offer incentives that are both attractive to employees and aligned with health objectives.

The Wellness Currency can be redeemed for fitness and stress-reduction classes such as yoga, Pilates or meditation, as well as visits to wellness experts, complementary medicine practitioners and spas delivered through SpaFinder's global network of spa and fitness establishments.

Steve Kane, chief revenue officer at SpaFinder, said: "Last year, businesses doubled their spending on employee wellness incentives, but the generic incentive cash, gift cards and insurance premium reductions are largely untrackable, fail to move the health needle long term, and can, of course, be spent on unhealthy behaviour.

"Our wellness programme will represent an intelligent, higher ROI alternative; rather than the disconnected 'carrot and stick' approach, SpaFinder ensures that employees are rewarded with aspirational wellness experiences that they actually desire - so they're eased into, and motivated to remain on, the wellness path."

Betty Weinkle, past president of the Incentive Gift Card Council and a board member of the Incentive Marketing Association, has been appointed as vice president of the division and will be tasked with leading the new service. She begins in her new role today (1 May).

Weinkle said: "We will launch innovative, common sense platforms that will welcome people on the health and wellness path, each customised to our clients' needs. Wellness programmes encourage employees to proactively take care of themselves and prevent disease and absenteeism, and SpaFinder's programme will help drive healthcare costs down while increasing productivity and lifting morale."

To read the full press release, click here.

Image: Betty Weinkle