Employee Reference And Employee Benefit Check – Two Important Components Of Hiring

Hiring is important for any company but right hiring is more important. Employees can either make or break the company. It goes same for any size of companies. Right employee, right position and right motivation is the key to success.While hiring an employee the HR department has to closely look for the background check of the employees. Every day in US on an average $1000 goes in to employee fraud. This figure a becoming huge day by day. Hence, it is important to be very careful while hiring an employee for your company.The following given are the components which a Human resource department should consider before hiring a new employee:
Employee reference check: So many sources are available these days on internet which can check the identity of the person online. Not just that, it is rather easy to call a person or write an e-mail to the person and check the authenticity of the new employee.
Past employment check: In most of the cases, the experienced employee always declare details about his previous employments, durations, reporting officer etc. With the help of that document, it is easy for HR department to double check his details.
Criminal record: No company wants to hire an employee who has criminal record and has been conducted by the court for any miss-doings. It is also important to understand the gravity of the crime. If it’s a very small crime like over ruling the traffic lights etc. then it should not be taken in the account against that person.
Team worker: A company never hires an individual, it always hire a team player who can be a part of team and lead company towards the path of success. There are so many tolls available in the market which can access an individual on his team player capabilities and individual strengths.
Address check and educational background: In early sixties, it has been found in USA that people are forging duplicate educational certificated and non-available address to get selected with the companies. This trend still exist, but not in abundance. It is important for human resource department to check the background of candidate’s educational declaration.
Personal integrity: This sounds very unusual, but if a person doesn’t have principles then he is not ethical. A set of questionnaire is available in the market which indirectly tries to identify the scale and roots of person’s integrity. It is always better to hire an employee who has better integrity and high moral value.
Above said points are very important for any company to check before they hire their employees. Once a company check all these points, they will be able to hire an employee who is honest and a good team player. His performance can be improved by trainings, if necessary.

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High Risk Loans: 3 Options That Offer Greater Approval Chances

There is no doubt that, from the point of view of lenders, applicants with low credit scores are considered high risk borrowers. So it stands to reason that their financing opportunities are fairly thin on the ground. But high risk loans are available if the search is in the right direction.In many cases, getting approval with poor credit scores is not dependent on credit scores at all, but on the lender that is applied to. And sometimes the best option is outside the lending industry, to someone known on a personal level, lessening greatly the risk of rejection.Of course, affordability is always the key factor when applying for a loan, especially a personal loan with bad credit. This may be confirmed through lower interest charged, or lower monthly repayment sums, but the loan type is telling too. Here are 3 loan options worth considering.Option 1: The Payday LoanThere are clear advantages and disadvantages to selecting a payday loan. The most obvious advantage is that, despite its status as a high risk loan, it is the most likely to get approval on. This is because the loan is granted against an upcoming paycheck.Securing approval with poor credit scores is almost certain because the approval process does not include a credit check. But there are some negatives to this option, not least the fact that a payday loan is one of the most expensive loan options available.The likelihood of approval despite the high risk involved means that interest can be as high as 35%, and with repayment terms as short as 30 days, there can be acute pressure to clear the debt. Also, as a personal loan with bad credit, it is limited to just $1,500, which may fall short of the required amount.Option 2: Secured Personal LoansThe problem with high risk loans is that lenders are not fully convinced they will get their money back. But when security is provided there is at least a way to be compensated. This is why a secured personal loan is a surer way of getting necessary funds.Also, with the limits placed on payday loans, it is the most practical way to secure loans more than $1,500 – all that is needed is collateral worth the value of the loan required. And because collateral overrides any issue of bad credit, securing approval with poor credit scores is a formality.If an item cannot be found to match a higher loan value, for example $25,000, then a cosigner can be used. He or she guarantees the loan repayments will be made even if the borrower is unable to. With this level of assurance, lenders are happy to grant the personal loan with bad credit.Option 3: Private LoansOne of the most cost-effective options is a private loan, also known as a family loan. Basically, a member of the family or a friend lends the money needed. Though considered a high risk loan, the relationship between lender and borrower is strong enough to overlook the credit status.The advantage for borrowers is that the interest rates are usually non-existent. This is because family members usually do not try to profit from the transaction. Also, approval with poor credit scores is guaranteed, and restructuring is easy in the future.However, be sure to agree terms, write them down and sign them to avoid confusion. And remember that repaying the debt will not affect your credit score. So, when approaching banks, seeking personal loans with bad credit will remain the case.

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Here’s 5 Immediate Solutions for Working Capital Financing for Your Cash Flow Business Needs!

These days you probably would be happy with 1 solid working capital financing solution for your cash flow business needs.We’ll beat that and give you 5! How is that for alternative solutions to your working capital and cash flow needs?Funding of working capital continues to be a large challenge for Canadian businesses of all size – you want to grow your business which requires investment in and of it, and by the way those suppliers and employees want to be paid on time also.Lets examine some solid real world solutions to your cash flow needs – in some cases all of them could work for you, but in general even a couple of these solutions would ‘ fix ‘ the current problems you face on a day to day basis.The most liquid asset any business always has, (next to cash) is your receivables. Working capital financing is best generated by the collection, or financing of your receivables. This can be done via either faster collections, or selling your receivables as you generate them. This financing is called receivable discounting or factoring, and is becoming increasing popular everyday.Did you ever think of the government of Canada as one of your best working capital financing partners? Our clients are amazed when we suggest that ‘ partner’ as a solution. But the specialized government program, technically called the BIL/CSBF loan program finances any equipment and leasehold improvements you need via a greatly subsidized loan program. We say subsidized, because even if you are a start up rates are great, guarantees are limited, and loan max amount is up to 350,000.00. Our clients who take advantage of this program consider it, bar none, the best financing in Canada for small and medium business, including start ups.You’ve spent your working capital – would you like to get it back? Clients always ask what we mean by that. Any equipment you have already paid for can often be refinanced, the technical term is sale leaseback, and we find that either that strategy or a short term bridge loan with the equipment as security is exactly what our clients need to bridge the cash flow gap.We spoke above about receivable financing – one of the best facilities for Canadian business is a combo working capital facility that finances, or ‘ margins ‘ both your A/R and your inventory. Since many firms previously couldn’t finance their inventory either elsewhere, or via banks, the combined liquidity of borrowing against your A/R and inventory is a true power punch! Typical this type of financing is known as an asset based lending facility, and makes most sense when the facility is at lease in the 250k range, and sky is the limit after that.Many clients are totally unaware the Purchase orders financing is available in Canada. This is a strong potential cash flow saver, and generator, since your suppliers are paid for product when you order it, once you have received the P O. The P O lender takes the inventory and receivable as security, but in effect finances your whole sale. While it is an expensive form of financing if you have good gross margins and could otherwise not facilitate the sale of your large new orders and contracts it’s a perfect solution.In summary, make yourself aware of your Canadian business financing options. Working capital and cash flow are available if you have assets and orders. We have demonstrated that clearly to you via 5 separate solutions. Speak to a trusted, credible and experienced Canadian business financing advisor to determine what works for your firm.

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