by David Schek | Jan 23, 2013 | Professional Employer Organization (PEO), Tips, Workers Comp
The link/ article below mentions some interesting trends about work place safety. Specifically, the article highlights that companies are using temporary workers to mitigate or negate their responsibility to provide a safe work place for ALL workers.
While the article unfortunately paints the staffing industry in some unfavorable light (which I take strong issue with) it does make some good points about how staffing companies really need to know their clients before placing workers at their facilities
http://www.huffingtonpost.com/2013/01/11/temp-work_n_2456959.html
Please know that when you work with a quality PEO, they can provide expert staff and guidance to help ensure that your clients are following the best practices in safety management.
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 | Jan 7, 2013 | News, Staffing Company, Workers Comp, Workers' Compensation Insurance
There are 2 main reasons that workers compensation rates will continue to head north in 2013. First is the tightening of underwriting standards for most labor intensive industries– especially staffing and construction. From 2001-2009 workers compensation rates were kept low because of loose underwriting standards by many carriers. After 2009 the insurance industry realized that their underwriting requirements were far too lax, and their insured risk portfolio generated inferior rates of return on their investment in workers compensation programs.
Second, the insurance industry is not able to make the kind of returns in the stock and other investment markets as they had in the years leading up to the Recession. Now they must be able to make money on each account rather than use the premium as investment monies for the investment markets. This is forcing up premiums as well as making the process of securing work compensation for higher risk industries (staffing and construction) more difficult. The net result is that more high risk companies in staffing and construction are being forced to the State Pools (and payng much higher rates) for their insurance.
An effective alternative can be utilizing a Professional Employers Organization (PEO’s) as your payroll and workers compensation provider. A PEO will spread your risk over their diverse portfolio of clients, which often results in lower rates for you.
Call us at 202-302-1212 to discuss this option and receive a quote.
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 | Jan 2, 2013 | Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
Many staffing companies that are in the assigned risk or state workers compensation pools are finding that their 2013 premiums are making business much less profitable. In addition, the governmental regulations for the new health care law may significantly add to your administration costs.
Call Work Comp Staffing Solutions at 202- 302-1212 to see if partnering with a Professional Employer Organization can save you money in your workers compensation and administrative areas.
We look forward to saving you money in 2013.
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 18, 2012 | News, Workers Comp, Workers' Compensation Insurance
As our special gift to you this holiday season, we will give you $100 when we generate a FREE workers compensation quote for you by December 31, 2012.
Just our way of trying to save as many staffing companies workers compensation expense in 2013.
Finally here is a link to a VERY funny short workers compensation report submitted by a “determined” bricklayer in Australia.
http://haveagiggle.com/true-funny-stories/australian-workers-compensation-clame/
Have a safe holiday
David
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 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
