by David Schek | Jul 12, 2011 | Professional Employer Organization (PEO), Tips
A Perfect Solution for a Growing Staffing Company
Work Comp Staffing Solutions is getting more inquiries lately from small staffing companies that need multi state work comp coverage in order to meet the needs of their large multi state clients. For instance, a 1M/yr. staffing client in Georgia that does business with a large national freight delivery company, was asked to supply workers in 5 different States within 6 weeks. The freight deliver company was willing to pay for on site managers, but needed the actual employees of the staffing company to have all the necessary insurances. Also the margins to the staffing company were close to 15%– so using the State Funds was not an option.
The Georgia staffing company had to quickly focus their attention on identifying the on site managers and to start the local recruitment process. Fortunately the staffing client was using a PEO (aka staff leasing company) for all her payroll and work comp needs. With a few calls to the PEO, this staffing company was set up to do business and employee people in the 5 new States, including providing appropriate workers compensation insurance to all the new employees.
For a FREE workers compensation quote from a PEO or national compensation carrier, please give us a call at 202-302-1212.
All the best,
David
www.StaffingCompSolutions.com
by David Schek | Jun 13, 2011 | Staffing Company, Tips, Workers Comp, Workers' Compensation Insurance
First Injury reports are a very important document that memorializes each workers compensation accident. Some staffing companies, at their own peril, do not provide a First Injury Report if they feel that the accident was “too small” to make a big deal about. Also some staffing companies feel that if the insurance company knows about each little accident, their rates will increase.
While it is true that insurance companies do include the number of accidents in the formula for computing rate increases and decreases, First Injury Reports also puts the employee on notice that the insurance company is going to start their investigation of the particular accident immediately. When the employee knows you report ALL accidents, this discourages them from trying to involve lawyers in the claims process; which will inevitably increase the cost of the claim related to that particular accident.
Also, by demonstrating to all employees that First Injury Reports are created for all accidents, you will reduce the amount of fraud that may be attributed to your workers compensation account.
Please feel free to contact me with any comments or questions. For a FREE workers compensation quote, call 202-302-1212 or visit us at www.newcompquote.com
Best Regards,
David
www.StaffingCompSolutions.com
by David Schek | May 31, 2011 | Staffing Company, Tips, Workers Comp, Workers' Compensation Insurance
As a workers compensation broker who previously owned a staffing business for many years, I know it may be difficult to keep track of all the anniversary dates for your various insurances. For instance, your general liability insurance may have one anniversary date while your health insurance policy may have another. And workers compensation insurance may in fact have a third anniversary date that you need to monitor. So I understand that staffing company owners sometimes find themselves with precious little time to secure the best workers compensation policy with the lowest rates.
Having said this, staffing company owners are sometimes surprised to find out how much they save when StaffingCompSolutions.com present a new quote to them; and how often they wish they had their policy re- quoted more regularly. Just last week, a 2M staffing company contacted us because they had not had their workers compensation quoted in 5 years. With their new quote from StaffingCompSolutions.com, they will be saving nearly $50K a year. If they had had an annual workers compensation quote over the last 5 years, they could have saved over two hundred thousand dollars!
So unlike going to the dentist, getting an annual workers compensation “check up” is easy and painless, and can possibly save you thousands of dollars.
Please feel free to contact us at any time for your FREE annual workers compensation quote at 202-302-1212.
All the Best
David Schek
President
david@StaffingCompSolutions.com
www.newcompquote.com
by David Schek | May 16, 2011 | Staffing Company, Tips, Workers Comp, Workers' Compensation Insurance
I am sure you have heard the old adage, “Safety is no accident.” Well it is as true today as when it was first spoken many years ago. The first step in making sure that safety is no accident in your staffing company is to identify a “Safety Manager” and give the person the responsibility to develop and execute workers compensation safety programs. (There are many safety program templates on line.) Your Office Manager or an ambitious Recruiter can be a good fit to take on these additional responsibilities. The important characteristic of your Safety Manager should be that the individual feels a strong passion to improve your safety track record, and is financially rewarded when your work comp rates decrease.
For example, if your annual workers compensation premium is $50,000, and your annual claims are about $35,000, you are probably paying average workers compensation rates for your codes. But with more diligence by a Safety Manager (i.e. following up on claims, focusing on light duty assignments etc.) you may be able to lower your rates and save $10–$15,000 in your annual premium. Then, by sharing some of these savings with the Safety Manager (and other staff if appropriate) you could develop a real win – win safety strategy in your office.
Safety is certainly no accident, just like paying the lowest Comp rates does not just happen by chance. You should shop around with the right broker or agent who knows Comp and knows your business.
For a Free workers compensation quote, or to discuss ways to improve your staffing safety programs, feel free to call us 202-302-1212.
David Schek
President Work Comp Staffing Solutions
www.StaffingCompSolutions.com
by David Schek | May 9, 2011 | Staffing Company, Tips
The importance of safety in your staffing organization should be made very clear from the start of the relationship with the temporary employee. Temporary employees that understand how serious you and your staff feel about safety on the job, will be more safety conscious which mean less workers compensation claims for you.
For example, your interviewer should discuss in detail the steps that your staffing company takes when a work comp accident occurs. Not only will your staff document the accident, but that you will undertake a complete investigation of the accident. By demonstrating in the interview that your staffing company is not a place for unsafe employees, you will encourage safety among your temporary employees and discourage fraudulent claims.
Please feel free to comment on this blog.
Regards,
David Schek
President- Work Comp Staffing Solutions
202-302-1212
Remember you will receive a $50 Starbucks Gift Certificate with each new Quote from Work Comp Staffing Solutions. Visit us at www.newcompquote.com
by David Schek | Apr 27, 2011 | Staffing Company, Tips, Workers Comp, Workers' Compensation Insurance
Most staffing company owners lose a little sleep when it comes to their Workers Compensation audits. Sometimes their anxiety grows as a result of some questionable classifications that they used during the audit period. Another reason could be that they may have inadvertently not correlated all the work comp premiums to their payroll tax records; especially if the have multiple offices to manage. So what is a staffing owner or financial manager for a staffing manager to do?
There are actually a few things that that can help you avoid any negative surprises and ensure your audit occurs without a hitch.
They include:
- Throughout your audit period, work closely with your agent or broker in communicating with the insurance carrier when you want to utilize a new a work comp code. This communication will make your Agent and insurance carrier part of the process of managing your business during the audit period, instead of getting them involved after you have already selected a code and established pay and bill rates.
- Confirm with your client the specific comp codes they use for each position.
- Try to have all your communication with your carrier concerning rates and job descriptions in writing. By having this information documented, it will be easier to justify any new codes you used during the audit period.
- Do an internal audit yourself before the insurance auditor comes to your office to review your company documents. By making sure that all your payroll reports match (withholding reports, SUTA reports, and Comp payroll reports) you will not only make the auditors job much easier, but you will demonstrate that you are managing your business well.
Finally, if you disagree with an auditors findings, there usually is an appeals process that is governed by the laws of your State and the rules of your insurance carrier. I have experience with clients who have used good documentation and have won their appeals which have saved them thousands of dollars.
Please feel free to comment on this article or call me for a more detailed discussion regarding this topic.
Best Regards,
David Schek
Work Comp Staffing Solutions– President
202-302-1212
Contact us at www.newcompquote.com for a FREE workers compensation quote.
