Corporate Gym Memberships Explained: A Guide For Business
With an abundance of research detailing just how directly linked productivity, morale and retention are to employee health, Workplace wellbeing has recently moved beyond being a nice extra to a strategic necessity.
It’s simply something that competitive companies can no longer afford to get left behind on.
But the great news is that there’s a very simple and effective way for businesses to invest in health in their workplace, and that’s by offering their team a corporate gym membership.
What Is A Corporate Gym Membership?
A corporate gym membership is just a fitness membership that is offered to businesses rather than individual members. So companies partner with a gym to give their employees access to training facilities at discounted or subsidised rates.
They are a really easy, yet effective way of supporting employee health and wellbeing with most gyms able to offer flexible options based on business size and budget.
How Do Corporate Gym Memberships Work?
The process is very straightforward. The company simply contacts the gym, outlines the number of employees they have and chooses the level of access required. For example it could be 24/7 access, weekdays only or gym only e.g. no classes or full access to everything the gym offers.
The gym then sets up a corporate plan, often priced per employee or through a tiered discount structure depending on how many employees actually sign up to the incentive.
Once the agreement is in place, employees simply use the gym as any other member would. The first time they attend they will need to complete a health questionnaire and have an induction but are then free to use the gym as they please (in line with their corporate gym membership terms).
Why They Are A Smart Business Investment
Regular exercise is directly linked to improved concentration, sharper decision making skills and better stress management. All of which are key drivers for optimum workplace performance.
Plus it’s simply a fact that healthier employees take fewer sick days, and when they do take time off for illness they recover much quicker and are hence back at work quicker.
But beyond productivity, corporate gym memberships support employee morale and retention. Of course, when staff feel valued on an individual level, it raises the reputation of the whole business. Making it more attractive to the top talent in your industry.
In a competitive city like Cambridge, offering a Cambridge gym membership through a top quality, a respected local facility such as Le Coach Fitness can really help companies stand out in crowded recruitment markets.
Are Gym Memberships Tax Deductible For Corporations?
In the UK, external gym memberships paid by an employer are normally treated as a taxable benefit, not a deductible business expense. This means they must be reported as a Benefit in Kind, with tax implications for both the company and the employee.
The only real exception is when a business provides an on-site gym available to all employees. This can be tax-free, but it’s only practical for larger organisations.
Always check specifics with your accountant, but for most businesses the value of having a corporate gym membership scheme comes from improved wellbeing and retention, not tax relief.
Corporate Fitness at Le Coach Gym
If your business is based in Cambridge and you want a simple, yet effective way to support employee wellbeing, Le Coach Fitness offers tailored corporate gym memberships for local businesses with small to mid sized teams.
With elite equipment, expert coaching on hand and a welcoming community, we make it easy to introduce workplace wellness that genuinely and quickly benefits your staff.
If you’re ready to explore corporate options or arrange a Cambridge gym membership for your team, get in touch here and we’ll walk you through the next steps.