If employees need loans from their bosses to cover everyday expenses, the loan
isn't the problem, it's the paycheck. The employer needs to pay them
better, enough at least to cover the cost of living. The whole concept of a
livable wage is lost these days in the rush to blame payday lenders.
This "workplace advance" product is not a loan by the employer to their
employee. The employer does not profit other than to help their employees deal
with the stress of a difficult financial challenge. This is America.
All of us have choices. Some of us choose immediate gratification and use debt
to purchase goods and services beyond our financial capacity. Others experience
temporary financial setbacks - broken down transportation, a medical emergency,
help a family member...It's not our employer's task to
coddle and counsel us; nor is it our government's. However, if an employer
can help to relieve some of the stress associated with their employees financial
straits, it's a good thing.Yes, admittedly I'm biased!
I've been on both sides of the "payday loan issue" for a LONG time!
I've witnessed the profits and the pain! Jer - Trihouse
Pay your workers a living wage. Stop oppressing labor. Offering your workers a
loan is not a solution, it is a symptom of oppression shrouded as a benefit. If
employers choose to pay their workers a living wage they would not need to offer
them these oppressive pay day loans.