Loans
Whilst the majority of employers avoid granting loans to their employees, many will be asked at some time or another to assist employees. The rules regarding the granting of authority, as well as the purposes for which loans will be granted, need to be carefully laid down and controlled. As far as ad hoc loans are concerned, some employers may prefer not to advertise the fact that the Organisation is prepared to assist, fearing this could encourage additional applications. Ideally, this type of loan should be the exception. In addition to ad hoc loans, an increasing number of employers make loans to assist employees with travel costs - e.g. season ticket loans. These would normally be dealt with in a far less investigative manner, although a repayment authority, such as that set out below should be completed in each case. Example of Policy Whilst [the employer] believes that employees can and should manage their personal finances successfully, it recognises that at times short-term fin...