In my company there is a boy who has been with us for about 8 years. His current salary is 22000.
His family has suffered series of financial issues, partially due to own mismanagement and also unfortunate illnesses of different members.
Last year he requested that he needed money desperately so we allowed him to quit, encash his PF and gratuity and rejoin in a sister company so he would get some immediate cash.
He still needs more money to pay off high cost outside personal loans. Half of his salary is going just to pay these loans.
He has requested the company to give him a loan of 2.5 lacs. As per our policy he is not eligible for more than 45000.
On one hand I want to help him. On the other hand, I am afraid of setting a precedent which I will be unable and unwilling to do if any other staff member also wants it. What should I do? Overall his performance is good.
Thanks
From India, Ludhiana
His family has suffered series of financial issues, partially due to own mismanagement and also unfortunate illnesses of different members.
Last year he requested that he needed money desperately so we allowed him to quit, encash his PF and gratuity and rejoin in a sister company so he would get some immediate cash.
He still needs more money to pay off high cost outside personal loans. Half of his salary is going just to pay these loans.
He has requested the company to give him a loan of 2.5 lacs. As per our policy he is not eligible for more than 45000.
On one hand I want to help him. On the other hand, I am afraid of setting a precedent which I will be unable and unwilling to do if any other staff member also wants it. What should I do? Overall his performance is good.
Thanks
From India, Ludhiana
In business personal sentiments should not be given priority over the policies set by the company. Such things happen to any one. You have helped him by offering job in your group company after withdrawing PF and collecting gratuity from the parent company. That itself was done out of way. Again, if that man is not in a position to make the two ends meet, we should say we are helpless. If you deviate from the company policy and pay such a huge advance, say more than three times higher than what he is eligible to, if some things happens or if he does not turn out after getting this amount, everybody will blame you only. It is not only setting a precedence but risk of collection which is important.
From India, Kannur
4240From India, Kannur
You are working in a company, and helping others is also important and a good gesture. However, you have to work within the framework of the organization. It means the interest and request of your subordinate should not be given an over-riding priority than the interest of your company.
You have helped him maximum possible. There ends the matter.
From India, Aizawl
You have helped him maximum possible. There ends the matter.
From India, Aizawl
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Canteen Policy.doc