I've heard of companies doing this and then either donating the money to charity or using it for employee parties.
When I worked for Talbot's years ago....they would do this about once a month. We had to pay $5, and the money went to Susan J Komen, Am Cancer Society, Am Heart Assoc, St Jude, Juvenile Diabetes, March of Dimes, etc. Just about every month is taken by a major health organization for campaigning and Talbot's was big into promoting good health.
I think it's a good idea....provided the money actually goes where it's supposed to...and not in someone's pocket.