What do you think of the options like early salary, loan against future income etc? Both as an HR and an employee. Is it better to take the loan from the company at 0%? or a third party (lending company) - probably higher amounts but maybe some interest?

Hey @Kartik Mandaville, Salary advances and loans against future income are a employee-friendly practice. Proving employees the financial support means going an extra mile to keep them at peace. For an employer, it’s a win-win as it doesn't affect the budgets. As an employer, it is better to set limits on eligibility since the amount has to be recovered over a period of time. In our org, the limit for salary advance is 30% of in-hand salary*6. So if a person has an take-home of 100000, he/she shall be eligible to get 30000*6=180000(Which is recovered in 6 EMIs). Salary advances and loans can help boost productivity as the employee need not worry about an emergency situations. Its also goodwill to the company In some cases, we have also observed that employees tend to take their work for granted assuming that they can't get fired as they owe company the money. For those reasons, you can make this policy discretionary. Avoid offering support to employees on PIP, low performers etc. Most payroll platforms come with an advance salary option. We use Razorpay. As far as the loan goes, it is okay to charge a nominal interest rate if the total exceeds sum of 3 months salary or tie up with financial institutions.