by David Schek | Dec 16, 2014 | Staffing Company
Being an employer in California (and many other states) means being a full time CEO, safety expert, and HR administrator. Every year the Ca Legislature passes myriad laws that, despite their good intentions (in most cases), create volumes of new regulations that employers much learn.
Every year employer organizations and labor groups go head to head over what’s in the best interests of employers and employees, especially regarding worker safety, wages/hours, workers’ compensation, discrimination and sick leave. 2015 is no exception. Here is comprehensive list from the Chamber of Commerce on what employers can expect next year. – http://www.workerscompensation.com/compnewsnetwork/news/20175-calchamber-releases-list-of-new-employment-laws-affecting-businesses-in-2015.html
While there are few that pertain specifically to staffing, staffing companies would be well advised, as would most employers, to make use of third parties such as professional employer organizations, to not only keep track of new regulations, but make sure they’re being properly implemented.
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
ASA Exhibitor 2014 Conference
ASA Staffing PAC Contributor
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 25 Years.
by David Schek | Dec 9, 2014 | News, Staffing Company, Workers Comp, Workers' Compensation Insurance
During this holiday Season, the increased use of temporary employees to meet peak demand by many of your clients, may result in higher than normal workers compensation accidents for your staffing company.
Below is a link to a short article suggesting some good, common sense steps you can take to minimize workers compensation accidents at your client’s sites this holiday season.
— http://www.workcompwire.com/2014/12/guest-post-woody-hill-tis-the-season-for-workplace-safety/
There are 2 key points that this author makes. The first is that training, which is important throughout the year, is even more critical this holiday season since you are probably dealing with many new and relatively less trained employees. The second tip is to make sure these less experienced temporary employees are familiar with the surroundings and potential hazards in their new work place.
Please let me know if you would like to start the New Year with a workers compensation quote that can save you money and increase your profits in 2015. Feel free to contact me at david@StaffingCompSolutions.com and visit us at www.StaffingCompSolutions.com
All the best and happy holidays.
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
ASA Exhibitor 2014 Conference
ASA Staffing PAC Contributor
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 25 Years.
by David Schek | Nov 3, 2014 | Staffing Company, Workers Comp, Workers' Compensation Insurance
In October, the Work Comp Staffing Solutions team met hundreds of staffing professionals at the American Staffing Association’s annual conference. Many attendees were interested in the Affordable Care Act’s impact on the staffing industry. In almost all of our conversations with staffing owners, there was an intense interest in the whether the ACA will increase or reduce workers’ compensations costs.
Here are some of the questions that we fielded:
- Will workers compensation benefits be delivered slower to employees because of the limited supply of doctors and emergency rooms that will now be servicing new ACA patients too?
- Will the limited health resources in the US, translate into to higher comp costs to employers as employees are out of work longer?
- Since under the ACA, employers receive a discount for wellness programs, will that translate into lower workers’ compensation costs?
And believe me, there were plenty more very interesting questions that were raised by the attendees.
Here is a picture of me speaking to a staffing owner about these issues and his recent increase in his rates.
Please feel free to contact me with your questions about workers compensation in 2015 and I would be glad to address them, and provide a FREE workers compensation quote to you.
All the best
David Schek
President
david@StaffingCompSolutions.com
www.StaffingCompSolutions.com
American Staffing Association Member
ASA Exhibitor 2014 Conference Booth 1123
California Staffing Association Member
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 25 Years.
by David Schek | Jul 9, 2014 | News, Staffing Company, Workers Comp, Workers' Compensation Insurance
Workers compensation rates are continuing to increase this year, but at a slower rate than 2013, according to an analysis released this week by Moody’s Investors Service Inc.
Rate firming is expected to slow to 5.5% this year, down from 8% in 2013, Moody’s said in Monday’s report. Still, this year’s rate increases are expected to remain “sufficiently above loss-ratio inflation” of about 2%, allowing an underwriting profit for 2014.
“However, our rate surveys suggest a reversal in risk appetite for WC in 2014, with carriers seeking to retain profitable accounts and competing for new business, which will dampen the pace of rate increases,” the report reads.
Moody’s expects that workers comp insurers will have a combined ratio of 98% in 2014 and 96% in 2015 if current industry trends continue, including rate increases and a reduction in taking on unprofitable accounts. That’s compared with a combined ratio of 103% in 2013.
Reserves for workers comp insurers “appear about break-even to modestly deficient for the industry,” Moody’s said. The use of predictive modeling in workers comp could lead to more stable loss reserve estimates in the future as the comp industry accepts such technology on a wider scale, according to the analysis.
This trend of moderating rates seems to indicate that if you are a staffing company with very few and small losses, there are a variety of workers compensation program options available. If your are like most staffing companies, workers compensation will continue to be a challenge and rates will probably rise again in 2015.
Please contact me at david@StaffingCompSolutions.com and visit our web site at www.StaffingCompSolutions.com for a FREE workers compensation quote.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
ASA Exhibitor 2014 Conference Booth 1123
California Staffing Association Member
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 25 Years.
by David Schek | Jun 9, 2014 | Staffing Company, Workers Comp, Workers' Compensation Insurance
I usually get a call a week from a staffing client asking about the potential costs of a new workers compensation claim. Although their workers comp provider will ultimately handle the claim, they know that their future workers compensation rates may reflect this new claim. So naturally, in addition to caring about the employee’s ability to get back to work, my staffing clients are very concerned about the costs resulting from the accident.
I have found that there are a number of factors that are part of estimating the cost of a workers compensation claim.
THE MOST IMPORTANT FACTOR, FROM MY 26 YEARS of EXPERIENCE, IS THE QUALITY OF THE ADJUSTER. Identifying and working with a knowledgeable and diligent workers compensation claims adjuster should be the main objective for the staffing company’s owner, when trying to minimize the financial impact of a claim.
Below is a link to an excellent article that identifies the different cost variables in a workers compensation claim.
— http://www.workerscompensation.com/compnewsnetwork/workers-comp-blogwire/19014-what-is-your-workers-compensation-claim-worth.html
If you are looking for other ideas about ways to minimize your exposure to workers compensation claims, and to lower your work compensation costs; please contact me at at david@StaffingCompSolutions.com. And always feel free to visit us at www.StaffingCompSolutions.com
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 25 Years.
by David Schek | Jun 2, 2014 | Consulting Services, Staffing Company, Workers Comp, Workers' Compensation Insurance
I send out a lot of emails about workers compensation programs for staffing companies and often forget to ask the simple question:
“How else can I help your staffing company?”
Having owned a 60 office staffing company for over 15 years, I know every day in staffing can be a new challenge, with new tests for you as an owner. From cash flow concerns, to continual margin pressure, I appreciate that owning a staffing company can be somewhat of a lonely business and as an owner you can feel somewhat isolated.
That being said, given my extensive staffing experience of over a quarter century, I may be able to suggest some new ideas and strategies that will improve your business model.
Please feel free to contact me to chat about your challenges. You can reach me at david@StaffingCompSolutions.com or 202-302-1212.
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.
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