Guidelines for a Crisis Fund
Does your company have a crisis fund to provide funds to employees for health or catastrophic events? What are your guidelines to qualify for the funds? Do you have an application, policy or any tools you can share with me? I'm happy to share anything I gather back to you. You can email me at Robin@strategicHRinc.com .
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We have a fund for employee emergencies (urgent needs) we call the "Sunshine Fund". The Fund is funded by employees as well as the company donates vending money to the account. It is not tax deductible for employees who choose to contribute to the fund either by payroll deductions or a lump sum monetary donation to help their peers in time of crisis. Since it is the employees fund, we have established criteria to be eligible. HR Manager is the Sheppard of the fund who receives the employees’ request, a confidential committee approves or denies the request (and decides if it will be a loan or a gift or a combination of both), and accounting reconciles the account. Loans are deducted per paid interest free until it is paid off. Employee must sign a payroll deduction authorization. You may call me to get more details at 513-735-7276.
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Yvonne Becker would you mind if we could chat about this? We would like to put something like this in place as well. Thanks! Whitney
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Yvonne Becker Thank you so much for sharing this with us! This project has been put on hold for now but I'm sure it is going to resurface. I'll definitely reach out to you then. Thanks for sharing this with us all and kudos to offering the program.
