If you run a staffing agency of any shape or size, you’re probably already aware that staffing agency insurance is required for every placement you happen to make. This is simply to keep things between your agency, the temporary employee and the business you’re placing them with as smooth and professional as possible. However, what you might not know is that there are actually 3 main details that come into account that can increase or reduce the level of insurance you need for any given placement. These include:
1. The placement itself. This largely revolves around the company you’ll be placing workers within. Depending on the situation, you may need a variety of insurance to protect you from claims originating from the company itself (such as failure to provide adequate workers, improper drug testing, etc.).
2. Performance. This is often the biggest issue that staffing companies are most concerned about insuring. If one of your temporary employees is placed and then fails to complete the proper job or simply does a sloppy job and causes damage to the placement company, the staffing agency will be held responsible financially.
3. Services provided, which covers any work offered to the placement company that doesn’t actually involve the hire of a temp. This often includes IT work.
Having the right staffing agency insurance to fit your placements is a must, and getting it can be a simple process with the help of professionals.