At Easy Mile Fitness, (a Planet Fitness franchisee operating 15 locations), health and wellness is about more than lifting weights. It’s also about inclusion. As manifested in their Mission Statement, Easy Mile Fitness strives “to create and serve their communities by enriching lives through passionate team members who embody Planet Fitness’ values.” When you work out at an Easy Mile location, you do so in a welcoming and non-intimidating environment. That way, members can focus on getting fit, rather than fitting in.
The company takes a similar approach to financial wellness. Owners Peter and Philip Amato believe planning for retirement should be inclusive and non-intimidating. They wanted to offer retirement benefits to all employees who had been with the company for a year, regardless of pay, status, or level - an uncommon idea in an industry with historically high turnover and the majority of staff in entry level positions. And they wanted the process to be fun, easy, and educational for all participants, no matter their level of financial literacy.
The only problem was finding an affordable retirement plan that could be easily administered, without a dedicated benefits function. More importantly, it had to be easy for employees to set up, whether on their phone after a round cleaning the gym or at the front desk between welcoming guests. Human Interest not only enabled Easy Mile Fitness to launch a 401(k) with fully vested employer match to all staff, but also provided educational resources, including a live town hall webinar and online content, to get employees onboarded and answer their questions.
“In an industry focused on physical wellness, there’s not always a lot done to encourage financial wellness. But for us, being able to offer a 401(k) was a critical component of our employees’ overall well-being. When our employees feel cared for, they can ensure our members feel cared for too,” says Peter Amato, CFO and Managing Partner. “For some employees, this is the first retirement benefit they’ve received through work and our employees are able to sign up and see the power and impact saving for retirement can have.”
Easy Mile’s retirement benefits took on extra significance in the past year when the company expanded to four more locations and added 60 new team members. Says Amato: “With almost 250 employees and growing, it’s even more important that we offer fantastic benefits so we can attract fantastic people and enable them to hopefully build their career with us.”
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