With this new feature of Sprout InstaCash, it will allow them to manage the InstaCash requests of their employees. They aim to control the tendencies of their employees to take loans from multiple platforms that will lead to zero or negative take-home pay and delinquent employees who still continue to request for loans that they can no longer manage to pay their outstanding balances.
One of the goals of InstaCash is to benefit employees by providing them easy and fast access to emergency funds, and if we add an approval from the Admins in the process before they can request for a loan, this cannot happen.
How can this be done?
Our solution is to provide an employee deactivation or opt-out process, where the Admins can send a request with a list of eligible employees that they wanted to be deactivated or opted out of InstaCash.
If an eligible employee is deactivated for InstaCash, the widget will not be displayed in their HR dashboard, thus they do not have the ability to request a loan.
The Admins will need to send a Change Request Form and provide a list of their employees they want to have InstaCash deactivated.
- Eligible Employees who are deactivated, should not be able to request a loan. The InstaCash widget will not be displayed.
- Reactivation of the widget to the Employee will also be requested by the Admin (same process).
- If the employee has already requested a loan or has an outstanding loan before deactivation, the employee will still the Outstanding Loan widget, until they have fully paid their balances.