A new study from IWG shows that over one-third of Brits are relinquishing their fitness memberships as the cost of living continues to rise.
Many Brits cited that the memberships themselves have seen price hikes, making it increasingly difficult for Gen Z and Millennials in particular to exercise. Among the 2,000 respondents, 50% of 24 to 34-year-olds and 56% of 18 to 24-year-olds have canceled memberships in recent months.
The study also shows that professionals are growing to expect employers to help support a physically healthy lifestyle, with 50% of respondents saying they want employers to provide some sort of fitness membership perk.
However, with budgets tightening amidst economic uncertainty, companies aren’t exactly jumping at the chance to expand their benefits packages. However, IWG argues that adopting flexible offices could be key in helping companies connect their employees to fitness facilities, without breaking the bank.
Adopting flexible offices gives companies a chance to offset their own real estate costs, plus give workers a chance to access an operator’s own perks.
In IWG’s case, it has teamed up with gym operator Hussle, giving workers discounted memberships to its network of gyms across the UK.
“These partnerships mean private health care and gym membership do not need to be the reserved of privileged few,” said Mark Dixon, CEO of IWG.
“Now customers across all our brands including Regus and Spaces will not only have access to these benefits, but their existing ones too including member events, networking opportunities and access to the world’s largest coworking network.”