700 Good Reasons: How CVS Is Incentivizing Its Employees to Quit Smoking

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Many employers are trying new ways to get employees to quit smoking. Healthier employees means better productivity, lower costs and reduced risks. CVS Health has come up with a new program to incentivize its employees to kick the habit, and its based on findings from a research study the company conducted in partnership with University of Pennsylvania. Called "700 Good Reasons," the CVS program asks participants to pay a $50 deposit, which they will get back upon successfully completing the program. They are also rewarded with $700 from the company.

The study is detailed in "Randomized Trial of Four Financial-Incentive Programs for Smoking Cessation," published in New England Journal of Medicine. Researchers found that employer-sponsored programs with financial incentives to give up smoking are more successful in both getting people to quit and stay smoke-free. Specifically, the study found that asking employees to put up their own money had a greater success rate.

"Last year, we made a commitment as a company to be tobacco-free as we strive to fulfill our purpose of helping people on their path to better health and that includes our colleagues," says Lisa Bisaccia, executive vice president and Chief Human Resources Officer, CVS Health. "The research we conducted with the University of Pennsylvania provided us with important information about what can motivate and help our colleagues stop smoking. We are excited to offer this innovative program to our colleagues who want to quit smoking as we foster a healthy workplace and workforce."

Watch a video summary of the study here.