How Can My Staffing Agency Reduce Its Workers Comp Insurance Costs?

Following this three-step process can help you save on your workers comp expenses.

When it comes to insurance, workers compensation is perhaps the largest cost that your staffing agency will face.  Luckily, there are steps that you can take to keep your agency’s coverage costs under control.  Want to save on workers compensation insurance for staffing agencies?  Then following this three-step strategy can help you manage your costs.

Step 1: Asses

First, you need to identify and assess the risks that your employees might face at the business you place them in.  This can be accomplished by conducting a safety inspection of a business before you make any moves to place employees there.  Your inspection should be completed by an inspector familiar with the risks normally associated with the industry.  For instance, if you are inspecting a hospital, then you should send an inspector who is familiar with the common hazards of working in the healthcare industry.  Your inspector should look for potential dangers and ensure that the company has taken steps to fix these issues before you place employees with the company.

Step 2: Address

Before you place any employees with a company, you should create a documented safety plan for working with the client.  You should not rely on the safety plans that your client offers.  While you can refer to their plan as a supplement to yours, your agency should have its own protocols and standards in place to ensure the safety of the workers you are placing.  To ensure the ongoing safety of your workers, it’s vital that you have regular discussions regarding best safety practices and safety equipment use, as well as keep up with safety training to teach them new techniques and protocols.

Step 3: Enforce

Ensuring the safety of your employees is an ongoing process.  This means that you need to continually go in and reassess the working environments of the workers you have placed.  Additionally, there will always be workers who fail to comply with best safety practices.  You should expect this behavior but never accept it.  If your employees fail to adhere to best safety practices, then they are endangering themselves as well as others.  These employees should receive immediate warnings and should be terminated if such behavior continues.  The idea of being so confrontational might make you wary; however, you need to remember that the price of their negligence will fall on your agency.  So, do not be afraid to enforce your safety rules and regulations.

By following this three-step process, you can reduce the cost of your workers compensation insurance for staffing agencies.  Interested in speaking to a company that has extensive experience with insuring staffing agencies?  Then contact the professionals at PMC Insurance Group.  We are able to secure the right coverage to meet all your staffing agency’s needs.

By PMC Insurance Group

Since 1996, PMC Insurance Group has worked to help independent agents grow their client base by offering workers' compensation solutions for a wide array of businesses. As one of the most distinguished workers' compensation wholesalers in the country, we have the tools and resources to help you create coverage programs for both small businesses and large accounts.