Limit the cash advances of your employees

Starmix

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I notice that many employees like to request for a cash advance which will be crucial on the part of the business. Make speculations like absences, punctuality, absences without pay and the worse if the employee resigns illegally.

It happened here in my workplace, many requested for a cash advance and even applied for a loan in the cooperative only to learn late the worker left.

He was hired to work in Australia leaving his unpaid account more or less $ 1, 500. His family was sued.

 

nomad

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• Feb 27, 2024

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Before giving advance payment to my workers, I will see if the worker is delligent or not, if the worker is valuable asset in my company or not. If he passes these tests, then only I give advance payment

 

Starmix

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• Feb 28, 2024

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• #3

That is right, it is better to undergo a background check if that employee is a good or bad creditor or good at his work. Fomeost to check his pay slip if there is a substantial amount to pay his cash advance in a monthly payment.

 

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Springtime

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• Mar 21, 2024

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Not many companies here offer cash advance to employees. Big corporations usually have very strict rules on this. For small companies. some business owners may offer cash advance to employees whom they trust.

 

Starmix

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• Mar 21, 2024

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Only full-time regular employees could be granted a cash advance in case of emergency but for casual workers, they are not allowed. They have to wait for the schedule of their salary.

 

flower

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• Mar 22, 2024

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I do not see anything wrong in giving cash advance to the employees but whenever you want to give the cash advance, it has to have cogent reasons for doing it.

 

eldavis

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• Mar 22, 2024

• #7

One policy I tend to always follow is to always make sure i do not start something I cannot finish. Most times it's best not to start it, cause most employees might take it for granted. If at all I would even consider giving advance it would be someone that is extremely serious.

 

Starmix

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• Mar 23, 2024

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• #8

It depends on the business owner if allow a cash advance so far, it's happening here in my place cash advances granted by private establishments. I don't have any idea if big companies allow cash advances.

 

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Ratine

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For me the cash advdnces is very important on the business. For instance most businesses would incorporate that into a special docket called the petty cash. It serves a very great importance pn the welfare for the workers.

 

Starmix

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• Mar 24, 2024

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Ratine said:

For me the cash advdnces is very important on the business. For instance most businesses would incorporate that into a special docket called the petty cash. It serves a very great importance pn the welfare for the workers.

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That is right, there are workers needing money very urgently and they have no other choice if the salary release is too far. They resort to applying for a cash advance.

 

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Stardom22

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• Jun 7, 2024

• #11

As the business managers therefore they should be very cautious on that activities by some of the workers.

 

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King Belieal

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• Jun 7, 2024

• #12

Some organisations make it such that you don't get advances for salary till a particular time of the month and it won't exceed a particular amount.

 

Niyi Briggs

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I have been a beneficiary of salary advances and it is because I have shown myself to be a loyal staff.

 

Shavkat

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• Jun 7, 2024

• #14

I think it is best to limit. For the reason that they can be abusive to ask for cash advance.

 

Starmix

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• Jun 7, 2024

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• #15

There's a need to limit because the money from the company serves as capital so there's interest to gain, but none in multiple cash advances.

 

Shavkat

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• Jun 8, 2024

• #16

Starmix said:

There's a need to limit because the money from the company serves as capital so there's interest to gain, but none in multiple cash advances.

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You have a point. It is included in the company's capital. The only concern is that they might be abusive.

 

Starmix

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Shavkat said:

You have a point. It is included in the company's capital. The only concern is that they might be abusive.

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The company also wants the employees to have a take home pay not a zero pay because of cash advances. They have to live in frugality.