by David Schek | May 12, 2014 | Tips, Workers Comp, Workers' Compensation Insurance
Workers Compensation Fraud is very serious business. Whether engaged in by employers or employees, workers compensation fraud involves criminal acts. Many staffing professionals believe that if caught, they will just be made to pay back any monies they illegally received. Actually, the courts are now regularly handing out jail sentences to offenders as a deterrent.
Here is a great article that may open your eyes to the types of fraud insurance companies and PEO’s see everyday.
— http://www.insurancejournal.com/news/southcentral/2014/03/24/324275.htm
As a staffing veteran for over 26 years, and former Professional Employer Organization (PEO) client for 10 years, I suggest you look at partnering with a PEO as your payroll/human resource and workers compensation solution. Like using a CPA for professionally managing your companies income taxes, using a PEO will assure you that you do everything correctly to avoid costly mistakes.
Please contact me at davidstaffing@StaffingCompSolutions.com or www.StaffingCompSolutions.com for a FREE quote today.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
ASA Exhibitor for Annual 2014 Conference
California Staffing Association Member
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 20 Years.
by David Schek | May 5, 2014 | Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
Dallas National has long been a carrier for many staffing companies work comp policies. Either through a Professional Employer Organization/PEO relationship , or via a direct policy.
As a result of potential insolvency, Dallas National has checked in to the Delaware “rehab. insurance hospital.” This is usually part of the process preceding the termination of high risk clients, like staffing companies– see link.
–– http://www.delawareinsurance.gov/departments/berg/rehab_bureau_freestone.shtml
I strongly recommend that you contact your Agent or Broker to do a check up of your carrier’s health. Work Comp Staffing Solutions has relationships with a few PEO’s that still underwrite staffing. Please contact me at david@StaffingCompSolutions.com and visit us at www.StaffingCompSolutions.com. I would be glad to offer you a quote should you need to find a new workers compensation relationship.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 20 Years.
by David Schek | Apr 28, 2014 | Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
Workers Compensation claims arising from mental Illnesses caused by work related activities may be on the rise. One of the primary reasons is that these claims are much more difficult to determine if they are fraudulent. The claims can be very costly to you as an employer, because treatment for these claims can last years and impact your mod rates.
Here is a great article that discusses this topic in more detail.
http://www.workerscompensation.com/compnewsnetwork/workers-comp-blogwire/13884-psychiatric_and_mental_injury_workers.html
An excellent way to keep your workers compensation costs down is to partner with a Professional Employer Organization PEO. Since all workers compensation claims affect both you and the PEO (as co employers), the PEO has a huge incentive (and resources) to investigate and determine whether a claim is appropriate and legal BEFORE paying out.
Please feel free to contact Work Comp Staffing Solutions for a PEO quote and to discuss other ways a PEO may make sense for your business. Work Comp Staffing Solutions can be reached at david@StaffingCompSolutions.com and visit us at www.StaffingCompSolutions.com
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
by David Schek | Apr 15, 2014 | Professional Employer Organization (PEO), Staffing Company, State Workers Comp Fund
A few weeks ago I mentioned how the NY State Fund bureaucracy lost Tina Fey’s workers compensation paper work and fined her 78K. Now it turns out that late last year, the NY State Fund did the same thing to Jim Carrey– which resulted in an unnecessary fine of 72K (see link below for details)
— http://www.workerscompensation.com/compnewsnetwork/from-bobs-cluttered-desk/18602-ny-wcb-turns-out-tina-fey-was-a-ok.html
Somehow I can not see Tina and Jim staying up late with their accountants dealing with the financial and administrative consequences that resulted from the State Fund’s mistake. For non celebrity staffing folks like us, these mistakes can cause countless hours of headaches trying to correct.
A more efficient and less costly workers compensation and back office solution than the State Fund is a Professional Employer Organization (PEO.) A PEO that specializes in serving staffing companies. For more information about PEO’s and other work comp solutions contact me at david@StaffingCompSolutions.com and visit us at www.StaffingCompSolutions.com
Good Luck and good staffing
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 20 Years.
by David Schek | Apr 7, 2014 | State Workers Comp Fund, Workers Comp, Workers' Compensation Insurance
- Leverage your current client relationships. Determine what other high value/ high margin positions you can supply to each client. Even with clients where you are their 2nd or 3rd choice, you can still distinguish yourself by being able to recruit for positions that other companies can/ will not do.
- Look at how your staff is compensated. Are they paid to only take orders from the current clients, or to keep their eyes open for new clients? Do you have Sales Contests for new clients? Do you regularly ask your staff for ideas to improve your companies sales and profits?
- The industry avg is between 15-19% GP on most light industrial positions (20-25% on 8810’s) . If you are not earning this, then something is wrong with your business model. Sometimes it is simply a matter of raising prices a dime per month over 3-4 months– after explaining to the client how your costs have gone up. I can supply you with your specific State’s Work comp/SUI research to substantiate this fact.
- Can some clients pay you COD so you save on financing costs and in exchange you give them a slight price break?
- Have your staff tele market the staffing firms that are listed on your temp applications as previous employers of your temp applicants? This is a good source for new sales leads of companies that are using temps. Also do you have a referral program for your temps? They can be your best sales people if they are compensated to do so!
- Start your NEW temps out at a wage that is .10-.25 less than what they will get if they stick to the job after 2-3 weeks (or work with you on different jobs for that period of time.) These savings will improve your GP and probably get better performance out of your temps. I find many staffing coordinators are not mindful of this management tool, and do not incorporate incentive raises into the temp pay structure.
Always feel free to contact me about your workers compensation concerns AND staffing sales and marketing issues at david@StaffingCompSolutions.com. I am always glad to help you improve your profits. Also visit us at www.StaffingCompSolutions.com.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 20 Years.
