Are you an HR Manager, a Senior Manager, or simply a Manager? And wondering how to increase motivation and productivity among your employees? Well, you have come to the right place to know all your answers. It’s no secret that a sedentary lifestyle can lead to a host of mental and physical health problems. We all know that we should be exercising more, but sometimes it’s hard to find the motivation to get up and move. That’s where an employee benefit gym membership can come in handy.
If you’re an employer, you might wonder whether providing a gym membership as an employee fringe benefit is worthwhile. So without any further ado, let’s get into the nitty-gritty of an employee gym membership program
- What is an Employee Gym Membership?
- 9 Reasons Why You Should offer your Employees a Gym Membership Employee Benefit
- How To Set Up A Gym Membership Employee Benefit Program
- Are Gym Membership Employee Benefits tax deductible?
- How a Gym Membership Program Can Provide Employees with Additional Options?
- Conclusion and Next Steps
What is an Employee Gym Membership?
An employee gym membership, also known as a corporate gym membership, is a program that employers provide to their employees. Employees who participate in this program receive free or heavily discounted memberships to the gym, personal training, health club, wellness center, yoga studio, or Zumba club. These corporate gym memberships are a part of the company’s wellness programs to motivate employees to stay healthy, increase job satisfaction and productivity, promote employee retention, reduce stress, and improve company culture.
9 Reasons Why You Should offer your Employees a Gym Membership Employee Benefit
1. Improved physical health
There are endless benefits to be gained from leading a healthier lifestyle, and one of the best ways to do that is by exercising regularly. Maintaining regular physical health through gyms or on your own helps maintain weight, reduces health risks, strengthens bones and muscles, and manages chronic health conditions.
If your employees are physically healthy, they’re less likely to get sick and need to take time off work. They’re also more likely to be productive and have more energy. Employees can reap the health benefits through corporate gym memberships at affordable prices.
2. Improved mental health
Exercise has been shown to be an effective treatment for depression and anxiety. It can also help to improve sleep quality. Through gym membership programs, employees get exclusive discounts that they can use during therapy sessions, wellness programs, mental health, or yoga retreats.
Employees are more likely to be engaged and productive at work when they are happy and healthy. Improved mental health boosts employees to work without stress, be consistent and increase productivity.
3. Reduced healthcare costs
Offering a gym membership as an employee benefit can help to reduce your company’s health care costs. At the same time, keeping the employee healthy and providing corporate gym membership to employees results in cost-effective measures. Gym memberships contribute significantly to providing healthcare benefits to employees while reducing the company’s healthcare benefits.
Employees in good health are less likely to get sick, and when they do, their costs for medical treatment will probably be reduced through regular physical activity.
4. Increased productivity
Exercise has been shown to improve brain function and increase productivity. Regular exercise boosts serotonin and dopamine levels in the brain, while also balancing stress hormones in the body. Furthermore, dopamine is also essential for assisting people in thinking, planning, striving for, and maintaining concentration on their goals. Increased productivity helps employees to focus on their goals and ensure effective and efficient workflow.
5. Improved morale
Employees who feel their company cares about their well-being are likelier to be loyal and engaged. And when it comes to increasing employee morale, one of the best things a company can do is offer a gym membership. Not only does it show that the company cares about its employees’ well-being, but it also helps them stay healthy and fit. Plus, it can be a great way to bond with co-workers.
6. Attract and retain top talent
Offering a gym membership as a company perk can help you attract and retain top talent. By providing a corporate gym membership, businesses can encourage employees to lead healthier lifestyles and improve their overall well-being. In addition, a corporate gym membership can also help you create a more positive work environment and improve morale among your employees.
7. Improved teamwork
Encouraging employees to exercise together can help to improve teamwork and build relationships. It’s no secret that many people struggle to find the motivation to stay active and get in shape. And while plenty of wellness programs can help people get on track, only some are interested in or have the time for them. That’s where an employee gym membership can make a big difference. An employee gym membership can be a great way to encourage your employees to stay active, improve their overall health, build relationships and improve teamwork.
8. Fewer sick days
Employees are less likely to take sick days when they are well. Regular exercise enables workers to decompress and relieve stress, which in turn improves immunity, boosts performance, and lowers stress and anxiety. With the help of a corporate gym membership program, employees can maintain consistency and improve their physical health.
9. A healthier workplace
A gym membership benefits program can help to create a healthier workplace overall. With increased productivity and satisfied employees, a healthy workplace culture results in greater employee tolerance levels, healthy responses to challenging events, and a calmer demeanor with the workload.
Some employers also opt to provide these fringe benefits to enhance their gym membership benefits program:
- Employee food allowance benefit
- Tuition reimbursement or education stipend
- Day care benefits for employees
- Work from home stipends
- Travel stipend for employees
- Employee stipends in general
How To Set Up A Gym Membership Employee Benefit Program
Before setting up a gym membership benefits program, companies may know more about the employee’s interests and needs with respect to fitness and exercise. By knowing what motivation lies in employees for fitness, companies can set up different gym membership benefit programs for employees.
To begin, if a company has an on-site gym for its employees, it can offer a monthly or yearly subscription. Aside from that, businesses can collaborate with nearby or local gyms that are close enough to the workplace for employees to desire to relieve their stress and hectic day with a decent workout. Businesses can move forward and provide a variety of other activities and possibilities through gym membership benefit programs once they know the subscription rate of their employees. The article addresses these programs further, so continue reading here.
Are Gym Membership Employee Benefits tax deductible?
Even well-intentioned employers are providing corporate gym membership benefits to their employees as a great and reasonable allowance that benefits the company through improved physical and mental health, reduced healthcare costs, increased productivity, and improved morale and teamwork of employees. However, employees’ gym membership counts as a personal expense and is non-tax-deductible. Offering gym memberships comes with a lot of perks and benefits at first. Still, it might subsequently lead to employee revulsion and disengagement, as taxing them the benefits at a later stage.
How a Gym Membership Program Can Provide Employees with Additional Options?
- On-Site Corporate Gym Membership
Many companies now offer on-site corporate gym memberships to help their employees stay healthy while encouraging them to get out of their offices and socialize away from work. Having an on-site gym has also been linked with increased productivity among workers by allowing them to blow off steam in a healthier way than drinking or going home early after stress-filled days would qualify for.
- Off-Site Gym Membership
On-site corporate gym membership is a great way to help employees reduce stress and increase productivity in the office. However, many employees may feel uncomfortable and reluctant to do a workout in the office rather than in a public gym. So, off-site gym membership plays a vital role in motivating employees to participate in this type of program. You may be able to offer an off-site gym membership by providing your employees with a wellness reimbursement, or through these alternative methods:
- Employee stipend
- Employee lifestyle benefits
- Employee lifestyle spending account
- Fitness reimbursement
Some insurance companies offer their own gym reimbursement program as well, such as the Cigna gym reimbursement program, humana wellness program, or the Go365 program by Humana.
- Virtual Fitness Options
In today’s fast-paced, ever-changing world, finding time for a workout can be difficult. Many adults struggle to carve out time in their schedule for the gym, often leading to an increase in desk jobs and a sedentary lifestyle.
That’s why more companies are offering virtual gym membership programs to promote wellness in their employees. An online fitness program gives employees access to prerecorded fitness videos and exercises from home or another convenient location. Virtual fitness programs also provide additional benefits beyond exercise, including social interaction and accountability.
- Home Fitness Equipment
The Gym Membership Program can assist in providing gym fitness equipment to employees who like to do their workouts at home. Due to this incentive, employees will be encouraged to sign up for the corporate gym membership program, which will add value to the organization in terms of productivity, gaining recruits and retaining current employees, and adding value to the company.
Understanding employees’ exercise equipment demands are preferable to lure the team and convince them to use the employee gym benefits program. Through surveys or focus groups, a company may acquire the interests of the employees and provide them with relevant types of equipment. Equipment that can be provided can include Cardiovascular machines such as treadmills, cycling, and stair climbers, strength training, yoga and meditation rugs, dumbbells, and many more.
- Fitness Event Registration
Companies can join hands with fitness events that happen in the city and, through corporate gym membership programs, can provide the facility of free registration for marathon events, charity events, sports competitions, biking events, races, and many more.
- Wellness/Yoga Centers Memberships
There are numerous Yoga and Wellness centers that provide affordable weekday and weekend getaways. Through corporate gym membership programs, companies can provide a two-day or four-day yoga and wellness retreat to employees interested in mindfulness and tranquility. If you would like to learn more about fringe benefits, check out this guide on the different types of fringe benefits you can offer.
Conclusion and Next Steps
If you’re considering offering a gym membership as an employee benefit, there are a few things to keep in mind.
First, choosing a gym that’s convenient for your employees is essential. They’re less likely to use it if it’s too far away or difficult to get to.
Second, consider offering a subsidy to help offset the membership cost. This can make it more affordable for employees and more likely that they’ll use it.
Third, think about offering other wellness benefits along with a gym membership. This could include a wellness coach, healthy lunch options, yoga and wellness retreats, or fitness classes.
IncentFit helps you deal with all of the three considerations above through our Lifestyle Reimbursements product. We help your employees lead happier, healthier, and more productive lives!