Jason Thistlethwaite
2.5 KiB
Once in a while people request being paid the same day or for some kind of loan. The company does those things sometimes when we're able, but when we aren't people sometimes become upset. This article is here to explain the right way to go about these things and what to expect.
Same-day and short term requests are difficult to approve and considered harmful
We're a young company without outside investors or a lot of extra capital. On top of that, we pay our people weekly while most of our customers pay less often, like once or twice a month. That means keeping the lights on requires careful financial planning.
Whenever someone asks for earnest money we weren't expecting to pay out it means we have to go over our budget before we can approve it. That can be time consuming, and in some cases it has to involve multiple people and takes several days.
In other words, that means several people are spending time figuring out whether we can issue a loan instead of doing productive work. That's why we ask people to avoid doing this unless it's an emergency situation that will effect the company in a strategic way. People who make a habit of it are frowned upon and unlikely to be promoted.
Seniority and responsibility
Typically, we will not approve any kind of loan or pay advance unless an employee has worked with us longer than a year and demonstrates high levels of responsibility.
Improving your chances of a loan or advance
First of all, ask for it in writing, instead of in person. The idea is to give us enough information ahead of time that we can schedule a time to talk about it. That way, we're making the best use of everyone's time.
Usually, the best thing to do is email hr@ldrprep.com about it. You'll get an automated response with a ticket number, just like when customers email us. Then, if you need to have the conversation sooner, just tell us "hey, I'd like to talk about HR ticket 123, when do you have time?"
Help us have confidence about it
When we approve loans, cashouts, or advances it is usually for one of the following general reasons:
- A long-term employee who's done a lot of great work wants some extra spending money for a vacation.
- A stellar employee has an emergency expense that would prevent them from getting to work if it's not handled.
- An employee has a proposal for a business idea or new venture that's aligned with our company's goals.
- Major life improvements like moving expenses, replacing major appliances, getting glasses or surgery, etc.
Other reasons are less likely to be approved.