Wouldn't it be nice to get paid for losing weight? Seems like that would be a good reason to pass up that pie or whatever your weakness is. Well, that's the theory at City Bank.
That's the same bank that set up a walking track in the building and offered employees a free week's vacation after 300 miles on the track. Now, City Bank has launched a pay per pound program offering $5 for every pound lost. Since the program began in March, a lot of folks are losing weight and gaining cash.
"I've lost six pounds, cholesterol has gone down about 60 points. I do feel better," says City Bank employee Brent Couch.
"I've lost 28 pounds, well, 34 now. The program is great. Will power is the hardest part," says City Bank employee Barbara McFadden.
"The small amount of dollars we spend today is a drop in the bucket compared to what it costs you to retrain new people that leave because they're unsatisfied or unhealthy, not to mention the amount of dollars you save on insurance claims," says City Bank President Mike Liner.
So, what does it cost City Bank to pay for pounds lost? Out of about 150 employees that took the challenge this summer, 80 have lost a total of 425 pounds. But what if you're already slim? City Bank pays $50 if you can stay within your target weight range. And by the way, they've paid five employees $250 each for giving up cigarettes.