If you currently own a staffing agency, you have responsibilities to your clients as well as the individuals you place. Chances are, because of the exposures you face, you’ll need staffing insurance for a number of risks, including liability issues and employment practices concerns. You have several coverage options as an employment agency, and you also know the importance of having coverage in place to protect your interests along with the interests of your company.
PEO programs can free you up to develop growth
You need to have in place a Human Resources department, or you could outsource this responsibility to a professional employer organization (PEO). These duties are becoming increasingly complicated and many business owners choose to outsource these types of issues since they need to be addressed on an ongoing basis. While certain functions are necessary in your daily operations, this can mean dividing your time between being compliant to regulations, and trying to be profitable.
Administrative burdens are a necessary component of the job, but can be a distraction from other more important aspects of your operations. Securing a PEO to handle many of the cumbersome details of the company’s daily operations is often the right move. This means you’ll be able to focus on hiring, and monitoring recruits on their capabilities.
This ensures that your customers are receiving quality, experienced candidates to fill any voids at their companies and keep their companies on track. Your clients will benefit from your attentiveness, while you benefit from your access to programs that help to simplify running your business while you focus on clients and enhancing profit margins. By relieving yourself of having to deal with the business end of running your company, you’re now free to focus on expansion and other valuable goals.
Insurance for the staffing industry
Take note of some important, and necessary coverage options related to running a staffing agency, which includes workers compensation, group health insurance, employee benefits, captive programs, liability coverages, employment practices, risk management & safety, a comprehensive Employee Assistance Program (EAP), and a drug-free workplace.
Risk management and safety inspections can only benefit by keeping you and your employees operating in a safe environment. Running a staffing agency should be a rewarding experience. After all, you’re helping individuals secure work, and companies meet deadlines. Staffing insurance is a key element to maintaining any level of success.