Borrowing money from colleagues

sangie595

john22 wrote: »

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

Here ....

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.

You have consistently argued that because the loan is a "private matter" it is not the business of the company. It is not the case that it only has an impact if it is against company policy. As you then, strangely, went on to agree! But it became company business the minute that the other person talked to their manager about it. These are not people who are friends - if they were, then we wouldn't be here discussing it. These are colleagues, the request was made on a pay day (psychologically the day when most people feel flush and are in a harder position to turn it down), and the person doing the asking obviously knows that their colleague is well paid. All knowledge connected to being a colleague in a workplace. And once aware of the situation, there is no reason why a concerned manager should not intervene to prevent possible harmful or negative outcomes. Managers do so all the time.

System

sangie595 wrote: »

Here ....

You have consistently argued that because the loan is a "private matter" it is not the business of the company. It is not the case that it only has an impact if it is against company policy. As you then, strangely, went on to agree! But it became company business the minute that the other person talked to their manager about it. These are not people who are friends - if they were, then we wouldn't be here discussing it. These are colleagues, the request was made on a pay day (psychologically the day when most people feel flush and are in a harder position to turn it down), and the person doing the asking obviously knows that their colleague is well paid. All knowledge connected to being a colleague in a workplace. And once aware of the situation, there is no reason why a concerned manager should not intervene to prevent possible harmful or negative outcomes. Managers do so all the time.

Talking about a private matter to the company manager does not make it company business automatically.

What the manager says is we don't have any policy forbidding employees lending money to each other and therefore I can't get involved.

As I keep saying it only becomes a company issue if it starts to affect work performance (I.e both parties can't talked to each other or carry out duties effectively)

Only then does the manager get involved and will find out facts without jumping to conclusions of the person lending money is a soft touch or the person taking the money might not pay it back.

Anyway we both will have to agree to disagree on this matter. :beer:

sangie595

We certainly shall disagree. As would many managers. By your measure of management, managers should do nothing about anything they know about until it is a problem. The measure of a good manager is that things are not allowed to become problems.

System

sangie595 wrote: »

We certainly shall disagree. As would many managers. By your measure of management, managers should do nothing about anything they know about until it is a problem. The measure of a good manager is that things are not allowed to become problems.

agree to disagree

TELLIT01

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.

Maybe it's just the female co-workers policy for you. :rotfl:

getmore4less

JReacher1 wrote: »

Yes the lender told me about it (but out of the office). He had agreed to lend the money but was having second thoughts.

The comment you give is for them to make sure the repayment terms are clear and if they want to discourage having to commit to the loan having said they would, a short deadline, like before the next pay day that the borrower will have trouble meeting.

it is important to have repayment specified and preferably in writing as without terms it will not be enforceable.

shortcrust

powerful_Rogue wrote: »

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

The reason I know about the rule is we used to joke about it when we lent or borrowed money, which of course happens in every workplace. A few quid here and there is fine, but there are obvious problems with large sums. I could list endless ways a large loan could compromise business. I think people just focus on the risk to working relationships, but debt comes with influence which is the main concern in places like the civil service.

lincroft1710

z1a wrote: »

Who????????

Banks .

lincroft1710

z1a wrote: »

That's how I met my wife, both in same dept. whilst working for CS. No policies in place frowning upon it.

Although this is currently correct (I also met my ex working in CS), a few decades ago if a co-workers in the CS married, one would be transferred to another office (often miles away).

Also many years 2 former colleagues were having an affair and the husband found out and complained to the dept. His wife was transferred to the nearest available office - 30 miles away.

bertiewhite

z1a wrote: »

Who????????

The Armed Forces forbid lending from subordinates.