I try to never loan more than a weeks pay (though I break that rule often enough). I have them sign a loan agreement that lays out the terms and their willingness to have their paycheck used to cover their debt if they leave. I pay this week for work performed last week. So if someone quits me they still have a paycheck from the previous week coming. If they owe me money then they forfeit that last check. It's worked well and I can only recall a few times where I didn't get paid back, even by someone that quit.
This and a signed authorization to deduct a specified amount from each paycheck until paid off.
Yep. When this came up I was pretty hesitant to do it and asked my CPA how I could do it but protect myself just in case. She had a form she sent me to cover all of that. The only problem is we arent a week behind, hours from previous week are paid Tuesday so I could still get bit...
Seems like giving up steady work for a few hundred dollars isn't all that smart on his part.....
Exactly but 99% of people who would do this aren't real smart to begin with. I have become very skeptical of most people nowadays. I know there are some people that have actually fallen on hard times for reasons they can't control. But i look at it like this...you can go through a rough patch...but a rough patch shouldn't last 20 yrs. If you have been having "bad luck" for 20 years it is probably a "you problem"
People either aren't smart enough or too **** lazy to get out of these rough patches.
Exactly but 99% of people who would do this aren't real smart to begin with. I have become very skeptical of most people nowadays. I know there are some people that have actually fallen on hard times for reasons they can't control. But i look at it like this...you can go through a rough patch...but a rough patch shouldn't last 20 yrs. If you have been having "bad luck" for 20 years it is probably a "you problem"
People either aren't smart enough or too **** lazy to get out of these rough patches.
I can't count how many times I've been screwed over by people that I employed, but treated like family:
One longtime employee charged thousands of dollars of gas in his wife's car. When we caught it, went back and looked and it had been going on for months. Had several people charge personal stuff on their company credit cards.
Had a project manager buy about $100k worth of dirt from a new company we'd never dealt with before. There was only about $80k in the bid so it threw up a red flag. When I got nosy and had somebody check his company truck we found a check stub from that company made out to him for $9,000. When I fired him, his wife trashed me on Facebook for firing her "loyal" husband. Of course she didn't know why he'd been fired.
Helped pay for a guy's mom's funeral....TWICE. He forgot that he'd already used that one. I still chipped in.
I've got so many more that aren't worth mentioning and I'm sure a bunch that have slipped my mind. There are some crappy people out there.
When you care about your people, it makes you a little vulnerable. That's OK. I'd rather feel good about who I am. You would too.
Wow. Kudos to see you still maintain that same attitude despite getting burned. That’s a testimony to live by to show forgiveness, don’t retaliate, & give out of the goodness of your heart because you are blessed & able.
By the way, are you hiring
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