In an unexpected turn of events that has sent ripples through the HR industry, Blueboard, a prominent experiential employee recognition platform based in San Diego, announced its abrupt shutdown on March 12, 2024. This sudden closure left hundreds of thousands of employees nationwide facing the loss of pre-funded but unredeemed rewards, causing significant distress among the workforce and HR professionals alike.

In response to this crisis, Salt Labs, a modern employee rewards solution focused on frontline workers, has swiftly established the first relief fund aimed at mitigating the impact on employees affected by Blueboard's unexpected demise. Recognizing the urgent need for action, Salt Labs has earmarked $20,000 to support the continuity of reward programs for employees who were caught off-guard by the shutdown.

The relief fund by Salt Labs is a beacon of support, particularly aimed at employees who had already redeemed or were about to redeem their rewards through Blueboard. By offering an alternative through its own platform, Salt Labs is ensuring that these employees do not lose out on the value of their hard-earned rewards. Companies with a significant number of frontline and hourly workers, who are now struggling due to Blueboard’s closure, are urged to apply for the relief fund by March 20, 2024, at 6:00 p.m. ET.

Salt Labs' initiative not only demonstrates a significant commitment to employee welfare but also sets a new precedent in the HR and FinTech industry for responding to unforeseen corporate crises. The founders of Salt Labs, Jason Lee and Rob Law, who have significant experience in the HR and FinTech sectors through their previous venture, DailyPay, emphasize that this move is rooted in their mission to enhance the employee experience and ensure workers feel valued beyond their hourly wage.

This event marks a pivotal moment in the HR industry, spotlighting the vulnerability of employee reward schemes and the critical importance of having robust contingency plans. As the community rallies to support those affected by Blueboard’s shutdown, the actions of Salt Labs stand out as a prime example of corporate responsibility and solidarity in times of unforeseen business challenges.