| In: Motivation and Weight Loss
Lose Weight, Get Paid – Research Shows Cash Incentive Works
People will lose weight for money, even a little money, suggests a study that offers another option for employers looking for ways to cut health care costs.
The research published in the September issue of the Journal of Occupational and Environmental Medicine found that cash incentives can be a success even when the payout is as little as $7 for dropping just a few pounds in three months.
Unlike providing onsite fitness centers or improving offerings in the company cafeteria, cash rewards provide a company with a guaranteed return, the researchers said.
“They really can’t be a bad investment because you don’t pay people unless they lose weight,” said Eric A. Finkelstein, the study’s lead author and a health economist at RTI International, a research institute based in nearby Research Triangle Park.
The study involved about 200 overweight employees at several colleges in North Carolina, divided into three groups. One group received no incentives while the other two groups received $7 or $14 for each percentage point of weight lost.
For example, someone in the middle group weighing 200 pounds who lost 10 pounds, or 5 percent, would get $35.
But why wait for an enlightened employer to pay you? What happens if you purposefully set aside money to reward yourself if you lose X number of pounds?
Or purposefully set aside the money you save each time you make the conscious decision to not buy that unhealthy treat. This may add up over time.