Peloton: Company Wellness Game Changer?

I'm intrigued by those firms doing well as a result of a pandemic-induced growth spurt, particularly when so many other companies struggle for their very survival. I wonder if their growth is a temporary blip or if they will be able to leverage something sustainable beyond the pandemic. Companies like Zoom and Amazon that have fared well in the past few months of sheltering will likely coast into a state of "new normal" beyond the pandemic.

The company Peloton has also fared well during the pandemic as closed gyms (and corporate offices with fitness centers) fueled new stimulus into at-home fitness equipment sales. As infection fears continue to persist, and many offices remain closed, many people have been content to maintain their fitness regimes at home, particularly with the purchase of a Peloton bike, treadmill, or just a subscription to the app with its variety of classes. Demand for Peloton bikes seem robust as their website warns of delivery times that could be as long as 12 weeks.

What I find interesting about Peloton is the role it could also play in corporate wellness, fueled by the current state of the world. With more and more companies increasingly embracing "work from home (WFH)" policies as the new norm - not just a temporary norm, Peloton is in a unique position to find a role in their corporate wellness efforts.

At this point I should state for the record that while I have been a Peloton customer since January of this year, I have no financial interest or ties to the company. My perspective is merely that of an observer and consumer.

Nothing has epitomized the apex of corporate wellness like the onsite workout facility. These facilities played a variety of roles for top enterprises. Whether recruitment tool, driver of employee satisfaction, or a space for true health improvement and promotion, these amenities were out of reach for the majority of workplaces because of cost, lack of space, or too few employees at a location for it to be viable.

I posit that Peloton can bring corporate wellness to the smallest employer for whom a fitness center would have been completely out of reach and those with dispersed WFH employees. Because Peloton is more than a cycling company - their classes range from cycling to strength training, yoga, and meditation, etc their portfolio of classes is as deep if not deeper than any onsite center. And while corporate wellness programs pivoted their classes to online platforms during the lock down, the user experience never came close to the high production values and digital fidelity of a Peloton class with its multiple camera angles and interactive display.

Another aspect of the modern corporate fitness center is team building - employees from diverse areas of the company may only interact with each other in these settings. And employees familiar with one another may deepen their bonds through the shared experience of a sweaty workout. Peloton seems aware of how its experience can translate to the realm of workplace teamwork as noted in a recent blog post - https://blog.onepeloton.com/peloton-with-colleagues/

Given that the pandemic has altered life long beyond what many had imagined, new ways of promoting worker wellness, engagement, culture, and teamwork must emerge. I will be eager to see if Peloton targets this space and if employers adopt accordingly.

The author, David Flores, is the founder and CEO of Cotinuum, LLC, a firm focused on helping small businesses sustain employee benefits, wellness, HR, and insurance programs for an intentional employee/employer value proposition. www.cotinuum.com