Borrowing money from colleagues

System

shortcrust wrote: »

Can you really not see how it might impact on the workplace? I'd have thought it was obvious.

It would only impact the workplace if it went against company policy. The OP did not say that it was a company policy to forbid lending money between employees therefore no impact.

sangie595

john22 wrote: »

It would only impact the workplace if it went against company policy. The OP did not say that it was a company policy to forbid lending money between employees therefore no impact.

If only... but that isn't true. Anything that employees do, whether on company time or on their own time, can impact on the workplace or the employer. People are frequently disciplined or even dismissed for events that happened in personal time and "had nothing to do with the employer". And those dismissals are, more often than not, held to be fair in law. And besides which, to quote " the request was made privately in work" and the person approached has told their manager about it - the location in which that happened is irrelevant.

In my view, as the manager here, I think the OP has a perfectly valid concern for relationships within their team, at the very least. That perhaps may extend to suggesting that whilst the employee must reach their own decision about the request, they should carefully consider whether it is a good idea to comply. In their shoes, as well, I would certainly speak to the employee concerned, suggesting that borrowing off colleagues is not a good idea, and that I would be most annoyed if this was to spill over into any form of dispute about the money - either because it was not loaned, or because it was not repaid. And the form that my annoyance would probably take would be disciplinary action. Borrowing a tenner because someone left their wallet at home is one thing. £500 is quite another.

If, and only if there was a valid reason for the borrowing, I would consider extending and employers loan - to be paid back in instalments from salary, with a signed agreement to this effect.

JReacher1

sangie595 wrote: »

If only... but that isn't true. Anything that employees do, whether on company time or on their own time, can impact on the workplace or the employer. People are frequently disciplined or even dismissed for events that happened in personal time and "had nothing to do with the employer". And those dismissals are, more often than not, held to be fair in law. And besides which, to quote " the request was made privately in work" and the person approached has told their manager about it - the location in which that happened is irrelevant.

In my view, as the manager here, I think the OP has a perfectly valid concern for relationships within their team, at the very least. That perhaps may extend to suggesting that whilst the employee must reach their own decision about the request, they should carefully consider whether it is a good idea to comply. In their shoes, as well, I would certainly speak to the employee concerned, suggesting that borrowing off colleagues is not a good idea, and that I would be most annoyed if this was to spill over into any form of dispute about the money - either because it was not loaned, or because it was not repaid. And the form that my annoyance would probably take would be disciplinary action. Borrowing a tenner because someone left their wallet at home is one thing. £500 is quite another.

If, and only if there was a valid reason for the borrowing, I would consider extending and employers loan - to be paid back in instalments from salary, with a signed agreement to this effect.

My big worry is that although I don't know the financial situations of either party the agreement is that the £500 will be paid back in three weeks.

The actual request for the loan was made on the day both employees got paid, when the lender asked my advice I said my worry would be is that if he needs £500 on the one day a month he gets paid how is he going to be able to pay you back in three weeks?

I am hoping the person who has requested the money will speak to me at work tomorrow and we can then explore what options the company can provide. I obviously can't say anything if he doesn't approach me as currently it is a private matter.

System

sangie595 wrote: »

If only... but that isn't true. Anything that employees do, whether on company time or on their own time, can impact on the workplace or the employer. People are frequently disciplined or even dismissed for events that happened in personal time and "had nothing to do with the employer". And those dismissals are, more often than not, held to be fair in law. And besides which, to quote " the request was made privately in work" and the person approached has told their manager about it - the location in which that happened is irrelevant.

In my view, as the manager here, I think the OP has a perfectly valid concern for relationships within their team, at the very least. That perhaps may extend to suggesting that whilst the employee must reach their own decision about the request, they should carefully consider whether it is a good idea to comply. In their shoes, as well, I would certainly speak to the employee concerned, suggesting that borrowing off colleagues is not a good idea, and that I would be most annoyed if this was to spill over into any form of dispute about the money - either because it was not loaned, or because it was not repaid. And the form that my annoyance would probably take would be disciplinary action. Borrowing a tenner because someone left their wallet at home is one thing. £500 is quite another.

If, and only if there was a valid reason for the borrowing, I would consider extending and employers loan - to be paid back in instalments from salary, with a signed agreement to this effect.

Yes it will impact the company IF it affects work performance until then the company can't get involved in a private matter.

If the company felt that employees lending money to each other would affect work performance then make it company policy that you can't do it.

sangie595

john22 wrote: »

Yes it will impact the company IF it affects work performance until then the company can't get involved in a private matter.

If the company felt that employees lending money to each other would affect work performance then make it company policy that you can't do it.

Believe that if you wish. But it isn't true. Lots of "private matters" end up as company business. And don't need policy to make them so.

sangie595

JReacher1 wrote: »

My big worry is that although I don't know the financial situations of either party the agreement is that the £500 will be paid back in three weeks.

The actual request for the loan was made on the day both employees got paid, when the lender asked my advice I said my worry would be is that if he needs £500 on the one day a month he gets paid how is he going to be able to pay you back in three weeks?

I am hoping the person who has requested the money will speak to me at work tomorrow and we can then explore what options the company can provide. I obviously can't say anything if he doesn't approach me as currently it is a private matter.

It stopped being a private matter the minute you were told about it. A private matter between two people doesn't include a third person. You have been made party to the private matter. And it is already impacting - because the person knew it was everyone's pay day in order to ask for the money; and because you are here worrying about the way this may play out.

System

sangie595 wrote: »

Believe that if you wish. But it isn't true. Lots of "private matters" end up as company business. And don't need policy to make them so.

Where did i say private matters do not end up as company business?

I could go out with an employee for a drink fuelled night and end up fighting with them which could result in animosity in the work place. This will become a company issue which will need dealt with.

I could go out with an employee for a drink fuelled night and we have a great time. This is not a company issue.

Company policy says you can't drink with fellow employees. I go with an employee for drink this will be a company issue.

Geoff1963

I think some employers forbid employees dating each other, if they work in the same area.

All my female co-workers have told me this is company policy, and strictly enforced. That's a bit strange, because I can't see anything on our HR web-site.

System

Geoff1963 wrote: »

All my female co-workers have told me this is company policy, and strictly enforced. That's a bit strange, because I can't see anything on our HR web-site.

My old company had a policy that your partner or sibling could not work alongside you if you had the same line manager. However if you ended up dating a fellow worker under the same line manager this was not a problem as it was not company policy to stop you from doing it. In fact this couple now have a baby together :T

powerful_Rogue

debtisnotme wrote: »

Civil Service for starters

Well that's me in trouble them. Lent a work colleague £10 because he left his wallet at home.