Around a decade ago, Truworth Wellness embarked on a journey to redefine India's corporate wellness sector. Since then, they've championed the well-being of employees, fostering a holistic approach that has transformed company cultures. With over 250 brands that trust them with the wellbeing of their human capital and revenue exceeding INR 100 crore, Truworth Wellness is already a profitable force. Now, they set their sights on becoming the undisputed leader, capturing the biggest share of India's booming corporate wellness market. Below are the excerpts of an interview with Rohit Chohan, CEO Truworth Wellness :
1. You seem to be one of the first movers in the corporate wellness space in the country. Tell us more about how the organization’s journey has been over the past decade, the work you are doing and the clients you work with.
It's true! We were one of the first movers in India's corporate wellness space, established in 2011 with a burning vision: to create thriving organizations and individuals through holistic well-being programs. Our journey has been one of humble beginnings, innovation, and impact, and we are excited to embark on another exciting chapter, aiming for exponential growth with new launches in the pipeline.
From the start, we challenged the traditional "benefits transaction" approach. We believed in structured, outcome-based solutions that delivered measurable ROI for companies and enhanced well-being for employees. This philosophy resonated, and today, we serve 250+ clients across diverse sectors like BFSI, IT, and manufacturing, with a 75% client retention rate, a testament to our success.
Our work revolves around three core pillars:
Holistic Approach: We address physical, mental, social and financial well-being under one roof, eliminating the need for multiple vendors. Our solutions range from Primary Care, Preventive Care & Holistic wellbeing delivered through an integrated care & wellbeing ecosystem. .
Technology-Driven: We developed the cutting-edge platform "The Wellness Corner" for seamless program delivery, engagement, and data-driven insights. This empowers both employees and HR teams to track progress and measure impact.
Customization & Personalization: We understand that one-size-fits-all doesn't work. We tailor programs to each client's unique needs and employee demographics, ensuring maximum engagement and effectiveness.
2. Can you throw some light on the revenues and growth figures as well?
Our razor-sharp focus on creating value for C-suite leaders and corporates has yielded impressive results, including a 260% YoY growth in 2022-23, showcasing the market demand for our solutions. Thus far, we have served over 1 million employees across our client base, who have benefited from our programs. In terms of measurable impact, we have a lot of case studies for improved health outcomes and reduced hospitalization claims over long term structured programmes.
However, we are not resting on our laurels. We remain ambitious for the future, aiming to achieve a minimum 50% CAGR growth and reach INR 1500 crores in revenue by 2028. The quality of revenue is also important to us, we have so far scaled profitably with 3 years of EBITDA positive operations and last year was a milestone year for us - wherein we were PAT positive as well. All credit goes to our 400+ strong Truworth family who are aligned to our vision of sustained profitable growth and run tight operations across functions. Our growth plans encompass geographic expansion, forging strategic partnerships, and continuous product innovation.
3. How have you evolved with the changing workplace dynamics and maintained an edge over other players in this industry?
Truworth Wellness has adapted swiftly to evolving workplace dynamics, maintaining a competitive edge through innovation and agility. We excel in remote and hybrid work environments, prioritize personalized and flexible solutions, and foster collaboration and innovation. Our comprehensive ecosystem includes virtual and physical care solutions, personalized programs with data-driven insights, and strategic partnerships with over 50,000 providers. Our flagship app, 'The Wellness Corner,' enhances engagement and health outcomes. With a focus on preventive healthcare and high client satisfaction, we lead in employee well-being, offering a one-stop solution.
4. What change have you witnessed as far as understanding of corporate wellness amongst leaders is concerned?
Corporate leaders now understand corporate wellness as a strategic investment in employee health, productivity, and engagement, shifting from transactional to transformational approaches. Key drivers for onboarding wellness partners include improving health outcomes, risk management, cost reduction, talent acquisition and retention, and enhancing employee engagement and productivity.
5. With massive layoffs happening across industries and companies tightening their purse strings, what opportunities are you seeing for growth? Any targets that you have set for the year ahead?
While economic uncertainty persists, we identify growth opportunities in corporate wellness due to a shifting leadership mindset, a focus on preventive healthcare, and a holistic approach. Nowadays, leaders recognize the impact of well-being on retention, as it enhances the productivity of the existing workforce and contributes to cost reduction, making it a strategic investment even within tight budgets.
Today, we understand the challenges many companies face in managing diverse health and wellness benefits, leading to administrative complexities and fragmented care. That's why we are excited to introduce CarePass™, a revolutionary health membership product tailored specifically to address the primary and preventive care (OPD) needs of employees. CarePass™ offers a comprehensive suite of primary and preventive (OPD) services, including doctor consultations, Annual health checks, Rx diagnostics, pharmacy, dental, and vision care, and more, delivered through the award-winning platform "The Wellness Corner." This unified approach not only enhances our experience but also empowers HR to effectively manage costs and improve overall workforce health and productivity.
At Truworth Wellness, our clients appreciate our focus on preventive health and early intervention, aligning with the corporate wellbeing objectives. Additionally, by addressing diverse needs through our integrated solutions, we offer much better health outcomes and cost-effectiveness. This has led to increased consideration for our services, even in the changing economic scenario.
