Jason Lee, Founder of Salt Labs (a Chime® Company) Recipient of EBN's 2024 Excellence in Benefits Award

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Sep 11, 2024, 07:31 ET

NEW YORK, Sept. 11, 2024 /PRNewswire/ -- Jason Lee, the founder of Salt Labs and Chief of Chime Enterprise, has been honored with the 2024 Excellence in Benefits Award by Employee Benefits News (EBN). This prestigious award recognizes innovators and leaders in the benefits and HR community who are reshaping the future of employee well-being with novel tech-driven solutions.

Lee transformed the benefits marketplace by tackling key challenges the American hourly workforce faces. In 2015, he pioneered the employer Earned Wage Access (EWA), or on-demand pay, industry with his first company, DailyPay, which gives hourly workers access to their earned wages before their next payday to pay a bill or meet an emergency expense.

Building on his mission to empower everyday Americans, Lee founded Salt Labs in 2023 to provide hourly workers with long-term savings and rewards. Salt Labs' flagship product, Salt, allows employees to accumulate value for every hour worked, mirroring the dynamics of consumer loyalty programs like airline miles or hotel points. By earning Salt, employees can save toward future goals, from savings products like treasury bills to unique experiences like concert tickets or trips to Disney.

Salt's impact is profound—In July 2024, Salt users saved 59% of their Salt earnings, even though they can redeem it—An impressive shift, considering the average savings rate for this demographic is -2 %. Additionally, companies using Salt see turnover rates drop by 70% compared to non-users, highlighting its positive effect on organizational stability and employee engagement.

Lee's compassionate approach to the financial challenges of hourly workers sets him apart as a leader in HR tech, with a vision that supports long-term financial security for workers and contributes to broader economic stability.

Chime acquired Salt Labs in June 2024, and Lee is now leading Chime Enterprise. Chime is the #1 Most Loved Banking App*, and Chime Enterprise is committed to empowering businesses and their employees to achieve financial progress through innovative, tailored financial solutions designed for hourly and frontline workers.

Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

About Salt Labs

Salt Labs is an enterprise employee rewards company that was recently acquired by Chime. Its flagship product, Salt, is an award-winning employee rewards and incentive platform for everyday workers that drives savings and financial progress, resulting in a deeply motivated and engaged workforce. For enterprise partnership opportunities, please visit www.saltlabs.com or email [email protected].

*Chime is recommended by more of its users than that of any brand per 2023 Qualtrics^® NPS score. THE #1 MOST LOVED BANKING APP is a Trademark of Chime Financial, Inc.

SOURCE Salt Labs, Inc.