Does a cash incentive help people stick to a new healthy lifestyle? Perhaps, but is is particularly effective when combined with peer pressure according to the latest study!
Despite the health and economic consequences of obesity, the number of obese people is not decreasing. If anything, the problem continues to rise which is why there is such a great interest in finding new approaches to combating this major health issue.
In light of the prevalence of obesity in many countries across the world, a growing number of companies are offering their employees the opportunity to boost earning power with cash incentives for staying healthy. Many more now offer free healthy meals and gym membership too!
Those who are offered cash incentives based on group performance are far more successful than those with an individual incentive. According to findings published in the Annals of Internal Medicine, group-based financial incentives led to nearly three times more weight loss than cash awards based on an individual’s weight loss success alone.
Unfortunately, there are not many companies who currently have this kind of incentive to encourage a healthy lifestyle in place. However, it would be pretty simple to set up a cash incentive plan between friends to combine a little healthy competition and financial reward for sticking to a weight loss plan!
Kullgren JT, Troxel AB, Loewenstein G, Asch DA, Norton LA, Wesby L, Tao Y, Zhu J, Volpp KG, Individual Versus Group-Based Financial Incentives For Weight Loss, A Randomised Controlled Trial, Annals of Internal Medicine, 2013, 158(7):505-14.