With rising health care costs, some companies have turned to extreme measures to encourage employees to lose weight and get healthier – including, offering cash incentives.
Better yet, there are now websites and apps that allow you to bet, and earn real cash simply by losing weight! (Scroll down below to see links).
It Works!
Researchers from Michigan and Pennsylvania studied this new trend and have proven that cash incentives are one of the best ways to help people lose pounds. Investigators started by studying a dollars-for-dieters program implemented among the staff at Philadelphia’s Children’s Hospital.The Proof...
Each participant was given a monthly weight-loss goal, based on his or her body-mass index, and assigned to one of two cohorts.
Members of the “individual incentive” cohort were eligible to win 100 dollars for every month that they hit their goal; if they fell short, the hospital simply kept the money.
Members of the “group incentive” cohort were given similar terms, but with a lucrative twist: they were “competing” against a pool of four other employees for a guaranteed 500-dollar payout. If all five workers in the pool hit their goals, they each received 100 bucks; but if, say, only two in five did, the victors got to split the pot and take home 250 dollars apiece. “Group” participants, in other words, could win as much as 500 bucks if their pool-mates fell short. But sneak too many Ding-Dongs, and they would have to watch their cash go to someone else.
Surprisingly, the group incentive ended up being far more successful in encouraging members to stay on track. In the Pacific Standards article, Jeffery Kullgren, lead author of the University of Michigan points out one possible reason for this finding:
“If everyone around you is trying to achieve the same goal, and you’re having a hard time doing so, the fact that others are able to do it can be a potent motivator,” Kullgren says.
Furthermore, the additional motivation that your efforts are not affecting just you, but will have an effect on the entire team gives far more credence and a greater sense of accountability to your individual actions.
Ultimately it is clear that people have far less of a problem letting themselves down as they do letting down others. Therefore, it is once again proven important to find a way to encourage additional accountability in order to successfully lose weight.
Apps that Pay:
Following this new trend - there are now websites and apps that have jumped on board with this inspiring new trend. Below, check out a few places you can sign up to bet against others and win real money!
Other Options...
Not ready for a site like this but still want some additional motivation...?
Try a holding a weight loss contest with a friend or family member. Beyond betting cash you can always try other incentives such as going on a day trip somewhere, getting a pedicure or seeing a movie together when you each reach the next 5 or 10 lb. weight loss goal…(*Try to make the incentive non-food related!)
Whatever you do, be sure to include another person, or even better, speak with a health/weight loss coach to help hold you accountable and keep you on track. These may not pay you cash to lose weight, but the pride and benefits you’ll earn from successfully losing will certainly be ‘worth that weight in gold’!
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