Running a staffing agency comes with many different costs and having workers’ compensation insurance may be one of the biggest costs overall. But even if a staffing agency may be tempted to cut some features in order to save money, workers’ comp shouldn’t be one of them. How to Reduce Workers’ Comp Costs in the …
When an employee becomes ill or injured, a workers’ compensation claim is to be expected. But does that mean that their illness or workplace injury was caused by something related to their work? Not necessarily. Before a company foots the bill, it’s important to investigate what happened in order to avoid costly fees and a …
Every year, billions of dollars are illegally claimed by those who take advantage of workers’ compensation fraud. According to the National Insurance Crime Bureau, more than $5 billion is taken by people who either fake an injury or exaggerate one in order to get a break on their insurance and money in their pocket. And …
On a state-by-state basis, small- and medium-sized employers are required to have some level of workers’ compensation insurance. But getting that coverage can be challenging or confusing. That’s why outsourcing all workers’ compensation to a professional employer organization, or PEO, is touted as a comprehensive, problem-solving solution that also mixes in human resources services, payroll, …
Workers’ compensation fraud can end up costing employers in the United States more than $7.2 billion every year, according to the National Insurance Crime Bureau (NCIB). This startling number is born out of employees’ efforts to game the system, finding ways to seek out loopholes and take advantage of the system altogether. One major type …
Workers’ Compensation Fraud, and How to Prevent ItRead More »
Temporary workers can be a great asset for companies looking to handle busy work periods or knock out special projects with a little extra help. But no matter if it’s a one-day project or a six-month contract, temporary workers are just as vulnerable to becoming injured as full-time permanent employees. So, what happens when a …
Do Temporary Employees Need Workers’ Compensation Coverage?Read More »
For firms in the staffing industry, trying to calculate their workers’ compensation premium can be confusing and stressful. From trying to figure out how many employees are on their roll at any given time to job classification of these employees, a workers’ compensation cost for a staffing firm can fluctuate or just be hard to …
Workers’ Compensation Cost Drivers in the Staffing IndustryRead More »
The workers’ compensation market is one of the most expansive markets in the world, covering everything from small startups to major corporations, freelance workers to highly paid executives. It’s important for those in the industry to look at where the market is and where it’s headed, especially as a new decade is about to begin. …
Securing an effective workers’ compensation plan for temporary staffing may pose a challenge, confusing some staffing agencies as to how it differs from full-time insurance. However, workers’ compensation guidelines for staffing agencies are essentially the same for permanent hiring needs, save for paying insurance premiums. The temporary staffing industry is responsible for making sure that …
The Importance of Workers’ Compensation Insurance for Temporary StaffingRead More »
