by David Schek | Dec 10, 2012 | Professional Employer Organization (PEO), Workers Comp, Workers' Compensation Insurance
Research offers more proof older workers don’t drain comp coffers
A recent NCCI study debunks the myth that older workers cause more workers compensation claims, and thus are more costly and less productive employees.
As temporary staffing becomes an increasingly significant part of the US work force, and older workers become a more significant part of the temporary work force, this is a very positive trend for all of us.
For more details (and a few more surprises) please read the article/ link below.
http://www.riskandinsurance.com/story.jsp?storyId=533352866
And as you begin to think about the New Year, please remember that Work Comp Staffing Solutions works hard to connect you with the lowest cost and the highest quality PEOs. In fact one of our PEO’s offers guaranteed cost programs through Zurich!
Contact us at 202-302-1212 for a work comp quote. We can tell you how a PEO will afford you lower workers compensation rates, and help you manage your Affordable Care Act administrative expenses.
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 | Dec 4, 2012 | Healthcare Insurance, Professional Employer Organization (PEO), Workers Comp, Workers' Compensation Insurance
Five reasons to partner with a PEO for work comp
This is a great question that I hear a lot from staffing companies lately. Here are a few reasons that this could be happening to you:
- Insurance carriers are dropping their staffing business clients, and other carriers that are still willing to write staffing companies are raising rates because there is less competition for your business.
- NCCI has changed the methodology that they calculate mod rates effective January 1, 2013. Insurance companies are anticipating this change. Staffing companies with mods above 1.0 will see increases as a result of this new NCCI mod calculation.
- Insurance companies do not see staffing companies as a good risk any more, especially if your premium is not at least 100K a year. Just as you may decide that certain types of clients are too risky from a service or payment perspective, many carriers have come to this realization about staffing companies with respect to risk profiles.
- You may also find that to continue with your current rates you need to pay the carrier a deposit or have a deductible in your policy; which you did not have to do have before. For the carrier this is a way to minimize risk and maintain profits.
- Over all medical costs have increased resulting from accidents in most industries affecting rates. Carriers are nervous about costs resulting from Obamacare/ ACA.
One of the options that more staffing companies are asking about in order to keep their work comp rates low is to partner with a Professional Employers Organization or PEO. A PEO has a portfolio of client companies – not just staffing (sort of like a captive.) So if you do not have a perfect NCCI mod or loss history, you can still find affordable work comp.
Below is a good article that explains how larger companies join captives to control rates increases, which is the same type of risk transfer you can achieve by partnering with a PEO.
http://www.propertycasualty360.com/2012/07/18/companies-turning-to-captives-to-ease-rising-worke?t=captives
Please give us a call at 202-302-1212 and we will be glad to provide a PEO quote for your workers compensation coverage.
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 | Nov 27, 2012 | Healthcare Insurance, News, Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
Another Good Reason To Consider Partnering with a PEO
Successful staffing company owners have always been able to adjust their business models to continue to make a profit. With the new Healthcare laws starting in earnest in 12 months, our industry will have a new set of challenges and opportunities!
The article below from Staffing Industry Review discusses these challenges and opportunities and is well worth a read.
http://www.staffingindustry.com/Research-Publications/Publications/Staffing-Industry-Review/September-2012/2014
In terms of workers compensation costs, it is quite possible that long term costs will be going down because workers will not be using the workers compensation system to take care of basic health needs which happens now to some degree. Also as workers become healthier and more knowledgeable about ways to maintain good health, workers compensation accidents should become less frequent.
A second positive trend resulting from the new law is an opportunity for you to become your clients “expert” on these new healthcare laws so that everyone’s labor costs are kept to minimum. To be sure, there will be a level of complexity to these regulations that is unprecedented; but with a Professional Employer Organization (PEO) as your human resource – payroll and work comp partner, you will be able to help your clients better understand the new healthcare laws.
Please feel free to contact us for a workers compensation quote today and to find out about how Professional Employer Organizations (PEO’s) can improve your profits.
Happy Holidays.
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 | Nov 19, 2012 | Professional Employer Organization (PEO), Staffing Company
When an employee makes a workers compensation claim, they become a protected class of employee. As a “protected” employee, your management decisions affecting that employee will be potentially put under a legal microscope by their representatives. PEO’s have lawyers and human resource experts on staff that will advise you as to how best to handle these situations. As the PEO’s client, their goal is to protect you from lawsuits and management hassles
That is not to say that these employees can not be disciplined or even fired. But since the PEO’s specialize in knowing all the employment laws and regulations, they will guide you in ways to exercise your rights as an employer and minimize any confrontation from the employees legal representatives. Otherwise your staffing company can become a target to law suits from the employee’s attorneys.
This a a big reason why using a Professional Employers Organization (PEO) can save you money and aggravation in your staffing operation. PEO’s have staff attorneys to help guide you thorough this possible legal morass. Also your PEO’s human resource team can be a marketing advantage with your clients, since they are looking out for your clients interest as well, should a workers compensation accident become a legal issue.
Below is a article which describes the best practices in managing employees who have made a workers compensation claim and how to avoid pitfalls that can arise while managing them.
Workers’ compensation: When can employer terminate a worker with a claim?
I hope you find value in this article and will call Work Comp Staffing Solutions to find out about additional PEO benefits when you make a PEO a partner in solving your workers compensation challenges.
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 | Nov 12, 2012 | News, Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
Work Comp Staffing Solutions has succeeded in becoming the premier PEO/workers compensation consultant, exclusively servicing the staffing industry. After I sold my national staffing business where I used PEO services extensively throughout the country with my 60 offices, I wanted to share my great PEO experiences with other staffing company owners. Bottom line– I wanted to help my industry friends save money.
We started Work Comp Staffing Solutions in November of 2007. In the last 5 years, Work Comp Staffing Solutions has serviced nearly 30 staffing clients, totaling about 40M in annual payroll– with the a 90% retention rate. Some clients have been start ups and some have been larger staffing companies with Millions in payroll. They all had a common problem before they called Work Comp Staffing Solutions… their workers compensation rates (usually from the State Funds) were driving them out of business and they needed a staffing/PEO professional who understood their unique challenges.
Thank you for all your support.
David
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
