by David Schek | Jul 30, 2013 | Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
A few weeks ago one of my client’s employees was driving a fork lift and had an accident resulting in a potentially catastrophic injury and workers compensation claim. As my client began to research the claim, it appeared that the fork lift may have been improperly maintained and was in very poor working order. All of which was their clients responsibility. This situation may mean that the liability for the workers compensation accident, may be shared between the staffing company’s client and the insurer/ PEO for the staffing company.
This is a good example of Subrogation. The liability (and expense) associated with a workers compensation claim can be legally shared with another party– specifically the staffing company’s client.
Here is a link to an article that further explains how subrogation works, and why every staffing company should be aware of this when they speak to their insurance carriers and PEO’s about large work comp accidents.
http://www.athensadmin.com/athens-news/workers-compensation-subrogation/
Finally, please let me know if you need a FREE Workers Compensation quote. Contact us at www.StaffingCompSolutions.com
The workers compensation market is only getting worse for staffing companies with less than 150K in premium, and it is taking more time to find to an appropriate solution.
All the best
David Schek
President
Leaststaff.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
Visit Work Comp Staffing Solutions at Booth 104 at the A. S. A. Orlando Conference
by David Schek | Jul 25, 2013 | News, Workers Comp, Workers' Compensation Insurance
Rarely do I find such a concise and well written article about the causes of higher workers compensation rates. I knew immediately I had to share it with you. The many charts and graphs will add to your understanding of why workers compensation rates are increasing and where they are going.
— Download Whitepaper
I would enjoy speaking to you about identifying least expensive workers compensation solutions. Please feel free to contact me at davidstaffing@gmail.com or visit us at www.StaffingCompSolutions.com.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
Be Sure to Visit us at Booth 104 at the ASA Show
by David Schek | Jul 23, 2013 | News, Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
In study after study, employees with obesity issues are devouring their employers profits by being involved in more workers compensation claims. In fact they have higher workers compensation claim rates, spend more time getting back to work after an accident, and tend to be more affected by co-morbidity health issues. These facts are documented in multiple workers compensation studies from the NCCI as well as academic institutions and large workers compensation health agencies.
For example, in the article below, the author cites one example “where a worker weighing more than 300 pounds sprained an ankle. Even though he was in his mid-20s, the worker’s treatment dragged on for seven months without reaching maximum medical improvement, despite physical therapy and light-duty job.”
http://www.businessinsurance.com/article/99999999/NEWS080104/399999789?tags=|331|329|304|92
In addition the author follows up with an insightful observation that cases like this one involving an obese person “presents an additional challenge for workers comp managers because the longer an injured worker is away from the job, the greater risk they will “decondition” and gain additional weight, making it even harder to help them return to work, several sources said.”
Clearly this is a complicated health issue with wide scale implications for workers compensation costs– especially for light industrial staffing companies. Americans are becoming more obese with each passing year and light duty is often hard to cost effectively coordinate.
A more positive trend among light industrial staffing companies this year is the use of Professional Employer Organization (PEO’s) to help them decrease their use of expensive State Funds and eliminate the need to pay for internal administrative staff. This increased efficiency helps staffing companies focus more on the sales and servicing of their clients.
For a FREE PEO quote from a PEO broker with 25 years of staffing industry experience, and who has seasoned relationships with PEO’s that specialize in partnering with light industrial staffing companies, contact me at davidstaffing@gmail.com or visit us at www.StaffingCompSolutions.com
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Jul 18, 2013 | Consulting Services, News, Professional Employer Organization (PEO)
One of the unique features of the Work Comp Staffing Solutions management consulting service is that we invest our time to get to know your organization from the ground up. We apply our 25 years of staffing experience in order to develop appropriate and valuable sales and operation’s programs to improve your business.
Last week we spent 3 days in Arizona working with a multi office 8M staffing Work Comp Staffing Solutions consulting client. Our engagement with this client started about 2 months prior, as we spent many hours each week listening to the owner discuss his challenges and goals for his company.
Initially Work Comp Staffing Solutions helped this staffing company identify a workers compensation solution that included a PEO. Their longer terms and equally significant needs included increasing gross profits, inexpensively generating new sales and clients, and having an updated compensation program that encouraged optimum profitability in each branch. The owner, who is a very experienced staffing professional, wanted a “team of seasoned staffing professionals” to help him put together and execute a business plan to address his business needs.
Here is what Work Comp Staffing Solutions did for this consulting client:
- Created a comprehensive compensation program to improve branch efficiency
- Developed and managed a social media based sales and marketing program to generate new clients and sales opportunities for each office.
- Reviewed ALL client accounts to determine the appropriate mark ups, given the time that staff invested in servicing each account.
- Currently conducting weekly follow up meetings with ownership and review all aspects of financial performance.
We welcome a conversation about your staffing business needs and how we can help you achieve maximum profitability.
Here is a link to our consulting services https://StaffingCompSolutions.com/Work Comp Staffing Solutions-staffing-consulting-services/
We would be glad to offer a FREE 1 hour Consult about your staffing business!
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Jul 15, 2013 | Consulting Services, News, Professional Employer Organization (PEO), Workers Comp, Workers' Compensation Insurance
Staffing Industry Review recently published a very informative article about the current state of workers compensation for staffing companies. They reference several leading experts on their perceptions of where the workers compensation market is heading.
Here is a link to that article-
http://www.staffingindustry.com/Research-Publications/Publications/Staffing-Industry-Review/July-2013/Rising-Tide
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These authorities generally deal with larger staffing companies with sales over 10M and premiums above 200K. From my experience of working with start ups and smaller staffing agencies, the difficult market conditions will exist for a longer period of time since many of these smaller staffing companies are less profitable for these insurance companies or State Funds.
A solution that many smaller staffing companies are selecting is partnering with a Professional Employer Organization or PEO. These PEO’s are experiencing a stabilization in their rates. Because of their huge size, these PEO’s are afforded much lower workers compensation rates than a typical staffing company that may use the State Fund. As a result, the PEO’s pass some of these lower rates to their smaller staffing clients to make and keep them more competitive– like a good insurance partner.
Please feel free to contact me at davidstaffing@gmail.com to discuss how you can start utilizing a PEO partner to better manage your workers compensation costs. Also visit us at https://StaffingCompSolutions.com/Work Comp Staffing Solutions-staffing-consulting-services/ to find out about our other staffing support services.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
