Alison Stapleton is a financial executive who has spent time across both traditional finance and modern financial technology companies. Currently on the founding team of Salt Labs, Inc., a company with a mission to enable hourly workers to own the value they create from their work, Alison is passionate about using financial technology to create positive social impact and financial outcomes for the underserved across the economy. During her career, she has driven initiatives that leverage the power of financial technology and strategy to address poverty across low-income demographics and support leading employers to overcome acute labor-related issues.
At Salt Labs, Inc., Alison is the Head of Corporate Development, responsible for operations where she plans, directs, coordinates, and oversees all activities in the organization, from human resources and recruitment to finance. Additionally, she is responsible for setting and developing strategy, investor relations, and capital raising. Since its founding in November 2022, Alison has directly supported and overseen financing of over $18 million, a 75th percentile raise for companies of their stage, and hired and scaled team over of software engineers and commercial operators to build and bring their first product to market.
Alison and her team are focused on creating a future where hourly workers can capture the value of their work beyond their paycheck, leading to greater financial freedom and long-term wealth creation. Salt Labs believes that aligning the long-term interests of companies and their workers can profoundly change the employer-employee relationship. Alison fundamentally believes that the ownership of assets is the primary way wealth is created. Unlike white-collar workers who are offered several opportunities to build long-term wealth through company stock plans or 401(k)s, hourly workers often lack these opportunities for a variety of reasons. This disparity has contributed to the growing wealth gap, which Alison is dedicated to solving. The product Alison and her team are developing is a novel form of compensation that emphasizes long-term ownership and benefits both hourly workers and employers. They have an impressive client book of some of the largest Employers in America leveraging their tools to drive impressive results on their labor challenges, including 60%+ improvement to turnover and driving 70%+ savings rate across their 100,000+ Salt Users.
The power of asset ownership for wealth creation
Alison has witnessed firsthand the challenges hourly workers face when it comes to savings and asset ownership. “There’s a profound and concerning trend regarding savings and asset ownership, particularly among hourly workers,” she notes. For many in this demographic, saving is a luxury they cannot afford. The relentless cycle of living paycheck to paycheck, combined with rising living costs, leaves little room for saving, let alone investing. This precarious financial situation makes asset ownership a necessity for financial stability and security.
Alison has encountered individuals who, despite their diligent work, remain trapped in financial precarity due to the lack of assets. They might have steady jobs and decent wages but lack the means to build a sustainable financial future. “This has led to an existential savings crisis across the US Goldman Sachs investment research reports that for those who earn less than $60k per annum, the savings rate is -2%; in other words, for every $100 they make, they save $-2,” Alison explains. This crisis has far-reaching implications, including a retirement crisis where many Americans cannot afford to contribute to retirement plans. Despite the widespread availability of the 401(k), less than 20% of sub-$50k earners have one, dropping to a mere 6% for those making less than $25k.
The vision behind Salt Labs
At Salt Labs, Alison and her co-founders are fueled by a passion for leveraging technology to tackle the unique challenges faced by hourly workers. “Our goal is to provide frontline workers access to save and, over time, reach their personal financial goals that they couldn’t have otherwise achieved from a paycheck,” she explains. This vision came to life when they launched their initial product in Puerto Rico, where Alison led all go-to-market operations. The app quickly gained traction, going viral with over 40,000 downloads within the first two months and usage by 1 in 7 fast-food workers.
The early success of Salt Labs was driven by a dedicated team and high-profile support, including a partnership with NBA All-Star DeMarcus Cousins. “We tapped into our vision very early days which was exactly the momentum we needed to keep building,” Alison reflects. The enthusiastic response from users highlighted a clear demand for accessible savings tools and long-term value beyond their paycheck, reinforcing the mission and potential impact of Salt Labs.
Scaling success and navigating capital markets
Central to the success of Salt Labs, Alison highlights the importance of assembling a driven and passionate team. “We now have a team of over 25 talented individuals, each bringing unique skills and perspectives to the table,” she shares. This diverse group has been instrumental in driving the company’s growth and addressing complex challenges with agility and creativity. Their collective dedication to innovation in empowering hourly workers has been a cornerstone of their progress.
Alison also attributes their rapid scaling to strong investor support, emphasizing that these investors are not only financially backing the company but are also “operators at heart” who encourage and guide their growth. This solid financial foundation has enabled Salt Labs to expand its reach swiftly, now serving over 100,000 users and partnering with large employers. These partnerships underscore the platform’s significant role in enhancing the financial well-being of the workforce, showcasing the successful navigation of both organizational scaling and capital markets.
Impact on frontline workers and US employers
Salt Labs has significantly impacted both frontline workers and US employers by transforming employee benefits and savings. “We enable employees to earn a meaningful benefit on top of their paycheck, one that acts as a longer-lasting store of value and savings for their future,” Alison explains. This innovative approach has resulted in partnerships across various industries, including transportation, call centers, hospitality, and parking services. For instance, they collaborate with the largest bus transportation company in the US and a call center dedicated to critical services like interacting with blood donors, demonstrating the broad reach and applicability of their platform.
The results of these partnerships have been remarkable. Employers have seen significant improvements in addressing labor challenges, with a 40%+ adoption rate of the Salt program—far surpassing the typical voluntary adoption rate of employee benefits. Alison notes that there has also been a 61% improvement in tenure across employees who use Salt, indicating increased loyalty and retention.
Employees benefit greatly as well, saving at a rate of over 70%, which underscores their commitment to building a secure financial future. With over 100,000 users, the Salt app has become a crucial part of many workers’ financial lives, helping them achieve goals they previously thought unattainable.
Initiatives and strategy at DailyPay
At DailyPay, Alison spearheaded initiatives focused on corporate strategy and growth. “I led capital-raising efforts, gaining valuable experience that I now apply critically at Salt Labs. This expertise has been instrumental in leading our capital-raising endeavors, including securing top quartile pre-seed and seed investments,” she explains. This hands-on experience provided Alison with insights and strategies to navigate fundraising complexities, ensuring the necessary resources to fuel growth and achieve Salt Labs’ vision.
As a co-founder at Salt Labs, Alison’s role extends beyond just capital raising. “I wear multiple hats, leading strategy, growth, corporate development, general operations, product development, and various other aspects,” she notes. This comprehensive involvement reflects the company’s philosophy of “I’ll get the coffee,” demonstrating a commitment to doing whatever it takes to succeed. Each day is a learning experience, drawing insights from colleagues, the CEO, peers, and direct reports, underscoring her dedication to continuous growth and innovation in empowering hourly workers.
Influences from charitable and social causes
Involvement in charitable and social causes profoundly shapes Alison’s professional vision at Salt Labs. As Chairperson of the Children’s Medical Research Foundation’s (CMRF) Emerging Leaders Board, she gains invaluable leadership experience that directly enhances her role at Salt Labs. “Leading a team dedicated to fundraising for pediatric research at CMRF not only cultivates leadership but also nurtures empathy and underscores the importance of collective action,” she explains. This experience reinforces Salt Labs’ commitment to social responsibility and drives their mission to empower hourly workers.
Alison’s dedication to social good permeates the culture at Salt Labs, guiding the company to leverage its platform for positive change and meaningful impact in communities. “Our focus extends beyond mere business success; we’re propelled by a deeper purpose of effecting tangible change in people’s lives,” she notes. This commitment ensures that Salt Labs remains aligned with its mission to provide long-term financial stability and opportunities for hourly workers, reflecting a holistic approach to both business and social impact.
Alison has significantly influenced wealth creation and employee alignment through her work. She champions asset ownership as essential for financial stability and long-term wealth for hourly workers. By leading initiatives that promote savings and asset accumulation, she has enabled many to break free from financial precarity, with numerous users achieving personal milestones and financial goals, such as saving for life events, investing in education, and enjoying enriching experiences.
Her strategic vision benefits both employees and employers. By focusing on long-term alignment and innovative compensation models, she has transformed the employee-employer relationship, resulting in improved retention and engagement. Employers partnering with Salt Labs have experienced high adoption rates of their programs. Alison’s commitment to asset ownership not only enhances workers’ financial outcomes but also addresses critical labor challenges for businesses, demonstrating that employee financial well-being is vital for sustainable success.
