Many private sector businesses seek benefits that contribute to better employee relationships. And payroll deductible credit can be a great option because it brings lower interest credit that has advantages for the manager and employees.
Knowing the characteristics of this type of loan allows you to choose the best option and consequently offer timely benefits to your business. Thus, in this article, we bring you the advantages to using payroll deductible credit in your company.
An ‘Extra’ Benefit
As stated at the beginning of the text, private payroll can be a complementary benefit to employees. When they need a loan, they don’t have to go to HR to apply for advances or face the lengthy and difficult credit analysis at banks and financial institutions. Private Payroll is a way to value your employees by offering this credit tool.
Ease of management
Payroll deduction credit is easy as all processes are digital – no paper required. Products such as Credit Folha’s Private Payroll Loan Platform, for example, are 100% online, allowing the organization and monitoring of HR / DP departments without work overload.
An alternative to advance
It is not uncommon for employees, for countless reasons, to ask for an advance on their salary. Some companies do this, while others do not – especially when there is difficulty with cash. Offering discounted credit is an alternative for private businesses seeking to ‘anticipate’ amounts without the risk of common advance requests. And it still solves the HR problem of keeping track of advances.
Companies need to be concerned about the employee’s financial situation – good financial health brings a more productive and less concerned employee. And payroll-deductible credits set a ceiling of 30 percent on an employee’s salary, bringing financial security – and preventing them from compromising what they earn on higher-cost loans.
The credits of this modality are among those that offer the lowest interest rates in the market. And by adopting pay-as-you-go credit, your company allows your employees to renegotiate high-rate debt. Thus it is possible, again, to invest in the quality of life of the employee, offering the best option for each case.
It’s simple to get hired
Unlike other forms of lending, discounted credit follows a dynamic that simplifies hiring, being one of the most attractive modalities for financial institutions. As the name implies, the amounts will be deducted from the employee’s paycheck or paycheck, making the bank feel safer in granting the loan. And for the company there is no cost in hiring and it does not even need to have a checking account with the partner financial institution. The Folha Folha platform provides all the control and interfaces online so that your company does not have work in management.
Value your business
Companies with benefits like this type of credit tend to have a more positive image of their employees – and hence the general public. Remember: This type of loan is a benefit that values the professional who works in your company. In some cases, guiding and tracking the reasons for hiring credit can bring even more employee confidence about your business.