Italian rental company offers loans to struggling employees

Italian rental firm Mollo Noleggio has offered its employees loans of up to €2,000 to help ease the financial strain of rising energy prices and the cost of living.

Moll Noleggio's headquarters in Alba , Italy (Photo: Mollo Noleggio)

The company’s 400 employees, who are referred to by Mollo Noleggio as “collaborators”, had until the end of January 2023 to request the funds.

The loans are to be repaid in 24 instalments from October of this year, with the minimum rate of interest applied.

As well as helping to increase employee satisfaction and engagement, Mollo Noleggio believes having corporate welfare policies and remuneration systems that help staff in their daily lives - and that demonstrate the company’s appreciation for them, are an increasingly important part of its business and culture.

Alberto Maltese, Human Resources Manager at Mollo Noleggio, said, “In such a challenging period, we have decided to give even more incentives to our precious collaborators, because we strongly believe in the need to invest in them, also helping their families, so that this moment can be more serene, not only from an economic point of view, but also from an emotional and relational one.”

The recent loan offer is one of Mollo Noleggio’s own welfare initiatives, which aim to build on the emergency schemes implemented by the Italian government that the company has already utilised - as well as to demonstrate “the company’s attention to people and the will to support them,” said Maltese.

According to Maltese, this “translates into concrete gestures every year”. These include the provision of purchase vouchers for fuel or other goods and the reimbursement of expenses in the medical, social, recreational fields.

They also extend to cover expenses related to education and instruction for employee’s family members, the provision of academic scholarships for the children of its employees, as well as the supply of car seats to all new mothers and fathers.

Throughout 2022 Mollo Noleggio provided €200 in fuel vouchers to employees, and rolled out the ‘bill bonus’ disbursement scheme to its employees, as required by government legislation. Mollo’s total welfare spending now totals roughly €715,000.

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