Is it good to allow employees to cash advance?

[Starmix]

Is it good to allow employees to cash advance? Whether or not to allow employees to cash advances is a decision that involves several considerations. A cash advance is a short-term loan provided by an employer to an employee, which is then repaid through deductions from their employee’s future paychecks.

Providing a cash advance can improve employee morale and loyalty. It shows that the employer cares about their employee’s well-being. Offering cash advances can be an attractive benefit that helps in recruiting and retaining employees. A cash advance can help employees deal with unexpected expenses or emergencies.

Also, managing cash advances can create additional administrative work for the HR and finance departments. There is a risk that the employee may leave the company before fully repaying the advance. It can be good to allow employees a cash advance, especially for financially stable companies.

 

[Augusta]

That's right mate, It can be good to allow employees a cash advance, especially for financially stable companies

 

[Starmix]

That's right mate, It can be good to allow employees a cash advance, especially for financially stable companies

I experienced this during my first year at work and at that time I was the bread winner of my two elder sisters. It helped me a lot. I bought beef and chicken and one sack of rice from the cash advance .

 

[Augusta]

I experienced this during my first year at work and at that time I was the bread winner of my two elder sisters. It helped me a lot. I bought beef and chicken and one sack of rice from the cash advance .

That was a good boss. I hope other bosses follow suits. Sometimes we just need to have these avenues to get some money for urgent need

 

[eLdavis]

It also depends on the how the employee is to the business. Most businesses would deny an employee who does not put in effort.

 

[Starmix]

That was a good boss. I hope other bosses follow suits. Sometimes we just need to have these avenues to get some money for urgent need

Thankfully, it was our cooperative that initiated the management to allow cash advances to all employees. It is so helpful for all employees.

 

[Augusta]

Thankfully, it was our cooperative that initiated the management to allow cash advances to all employees. It is so helpful for all employees.

That's was so thoughtful of them. Sometimes employers just have to be sensitive to the welfare of workers

 

[Starmix]

That's was so thoughtful of them. Sometimes employers just have to be sensitive to the welfare of workers

There is limit of the cash advances, only up to $ 140. It is good enough for an urgent need for food and others.

 

[Springtime]

Here, most big corporations do not offer cash advance to employees. They have strict rules to follow. For small businesses, that depends on whether the owner trusts the employee.

 

[Starmix]

Not all businesses or companies here allow a cash advance to their employees. Only some establishments schools, colleges, and uncover allow a cash advance.