Cash for weight loss? Works better when employees compete for pots of money
Monday, April 1, 2013 - 18:30
in Psychology & Sociology
Do cash rewards for healthier habits work? Maybe, says a new study, if you add on one more condition -- peer pressure. A growing number of companies are offering employees an opportunity to boost earning power at work via cash incentives to stay healthy. Under the Affordable Care Act, employers will soon be able to offer even larger financial incentives to prod healthy lifestyle behaviors among their workforce, such as quitting smoking and losing weight. But people who are offered money for weight loss may be much more successful when awards are based on a group's performance -- rather than just their own -- according to the new research.