New research by PricewaterhouseCoopers in conjunction with the World Economic Forum has highlighted that the rising cost of chronic diseases is a growing burden for businesses. The report, Working Towards Wellness: The Business Rationale, warns that over the next 25 years chronic disease will reduce the available labour supply, savings, investments and ultimately affect the capital markets, and outlines the business rationale for workplace wellness programs.

Despite the fact that many of these diseases are treatable, the incidence of chronic disease is growing at an alarming rate. Globally, chronic diseases represent more than half (57%) of all deaths annually, and this is expected to rise by 23% over the next 20-25 years, while deaths due to other causes are expected to remain roughly stable through to 2030. The impact is currently being felt primarily in industrialised nations but is expected to spread to emerging nations as the convergence of global economies and the Western influence on lifestyles throughout the world continues.

The report adds to growing evidence that corporate wellness programs can be effective at reducing the risk of chronic diseases. The issue is also moving from an isolated project for HR to a priority for C-suite executives and government. "Global companies already engaged in wellness programs are demonstrating that these programs are a way for them to enhance attraction, retention, retention and the loyalty of employees, while reducing their own health costs, improving productivity and supporting their social commitments," said Michael J. Thompson, principal, global HR services, PwC.

Workplace performance consultant Dr Adam Fraser added that organisations need to move beyond mere lip service to truly have any impact on employee health. "We've got to drop the fad stuff and get people to change behaviour - which is probably the hardest thing in the world to change. The best solution is to set up an environment that supports and encourages employees to live healthier lives," he said.

According to the report, the major challenge for governments around the world remains productivity loss. In the next 10 years, China, India and the UK are projected to lose US$558bn, US$237bn and US$33bn, respectively, in national income as a result of heart disease, stroke and diabetes and partly as a result of reduced economic productivity.