Salt's Employee Rewards Model Cuts Turnover by 62%

Salt Unveils Next-Generation App to Boost Workplace Engagement and Retention. Salt, the award-winning employee rewards and loyalty platform, announced findings from a new study, revealing that the app reduces employee turnover by 62%. This new data arrives just as the company launches the next generation of its solution, Salt 2.0. A new study interpreted by Dr. David (DK) Kryscynski, Associate Professor of Human Resource Management at Rutgers University and an expert in strategic human capital and non-monetary incentives, reveals that employees using Salt have a 62% lower turnover rate than non-users. The research examined data from more than 60,000 employees across six companies and suggests that Salt could provide significant retention benefits by driving increased loyalty and engagement. This breakthrough in retention is reinforced by Salt's latest milestone—surpassing 10 million employee work hours logged. Since its launch in 2023, Salt has helped businesses of all sizes—from 1,000 to 100,000 employees—improve retention and productivity by rewarding employees in real time for every hour worked. HR Technology Insights: Illustrative Mathematics Promotes Ebony Jones to VP of Employee Success Key reasons why Salt should reduce employee turnover, according to the study, include:

• Proven Loyalty Model: Salt leverages decades of insights from airline and retail loyalty programs and applies behavioral science to drive retention.
• Meaningful Rewards: Employees can redeem points for rewards they value, which they might not otherwise be able to afford on their limited budgets—making the rewards feel all the more impactful.
• Increased Financial Ownership: For many hourly employees living paycheck-to-paycheck, the accumulation of wealth in their Salt account represents one of the first meaningful saving opportunities available to them.
• Instant Gratification: Unlike most employee rewards programs that occur weeks or even months after the desired behavior, Salt rewards employees immediately as they log hours.

"Traditional rewards programs rely on managers to decide when and why to recognize employees, with additional peer recognition features. Salt flips these models by rewarding employees directly as they work, which could give them a greater sense of ownership over their own investments in the company," said Dr. Krysyncski. "Tech solutions like Salt have a real potential to redefine the way that employees feel ownership and loyalty at work." HR Technology Insights: Impact Employment Solutions Expands Nationwide With Top Shelf Staffing Acquisition

Introducing Salt 2.0

Building on its success, Salt today unveiled Salt 2.0, featuring powerful new tools to help employers boost performance and reduce turnover. Employees can now redeem Salt for an expanded selection of curated experiences, premium offers, and exclusive perks, while tracking progress toward personalized goals with real-time interactive milestones and bonus incentives. Employers can create goal-driven challenges tied to key business objectives—such as training completion or KPI achievements—ensuring the rewards program aligns with their strategic goals. "We're thrilled to release Salt 2.0. Today's employees want to be rewarded with something meaningful in addition to a paycheck. Salt enables employees to associate their work with enjoyable and positive outcomes, in addition to paying bills and making ends meet. This is why Salt has such a highly retentive benefit for employers," said Jason Lee, founder of Salt and Chief of Chime Enterprise. HR Technology Insights: Kishwaukee College Launches Ellucian Colleague SaaS ERP To participate in our interviews, please write to our HRTech Media Room at news@intentamplify.com Source: PR Newswire