With a staffing agency helping you out, these matters are well taken care of. All you have to do is select from the cream of the crop and expect your new hire to come to work ASAP.What are the benefits of hiring through a staffing agency? Aside from fast hiring, what else can companies get if they course through the hiring process with a staffing agency? They get flexibility and reduce other risks thanks to the staffing insurance programs the agency will most likely have in place.

1. Understanding
Staffing Agency
Insurance

2. Browse through LinkedIn and see that there seem
to be many vacancies proffered to any qualified
candidate at the moment. After seeing a ray of
sunshine thanks to medical advancements against
COVID-19, the US job market is back to mean
business again
More and more Americans now rethink their
careers which signals the end of an era dubbed by
recruiters as "The Great Resignation." The Great
Reshuffle has begun

3. With the multiple vacancies and
a vast pool of talents looking to
get hired, all eyes are on one
industry. As a result, firms
offering staffing and recruitment
services got a lot of work to do.

4. What are staffing agencies?
Staffing agencies are a godsend
for businesses looking to fill in
their vacancies with high-
quality candidates at superb
speed.
The hiring process can be a
lengthy and draining process for a
company, especially if your Human
Resource staff or department has
other responsibilities like payroll
and administrative duties.

5. In addition, the process often involves a lot of back and
forth communication between the prospect and the
company—so imagine how wasteful it would be if the
candidate isn’t a good fit.
With a staffing agency helping you out, these matters are
well taken care of. All you have to do is select from the
cream of the crop and expect your new hire to come to
work ASAP.

6. What are the benefits of hiring through a staffing
agency? Aside from fast hiring, what else can companies get if
they course through the hiring process with a staffing agency?
They get flexibility and reduce other risks
thanks to the
staffing insurance programs the agency will
most likely have in place.
Some companies are experimenting with the
possibility of catering to a variety of
employment types. This move doesn’t come as
a surprise since a leaner operation will ensure
profitability for the company, what with the
continued onslaught of the pandemic.

7. Managing a fluid workforce is something a staffing agency can do
best because the client company can arrange for the firm to
handle the administrative and payrolling needs of the contingent
workers.
Since the firm handles the temporary associates, they also
assume liability, especially if the employee left or was fired.
The staffing agency insurance coverage includes the worker's
exit's financial and operational risks. This coverage means the
client company is mostly, if not absolutely risk-free.
Why invest in staffing agency insurance?
Given the nature of their service, staffing agencies are more
vulnerable, much more at risk than the client companies they
aid. And that is why insurance for staffing firms is a need.

8. Staffing agency insurance, if covering all the bases that the firm
needs, will address general, commercial, and professional liabilities
and even workers’ compensations. Getting one will be beneficial
because it protects the agency's assets when worse comes to
worst.
What type of insurance is needed for a staffing agency?
Staffing agency insurance varies because you’ll want to get
coverage that fits your firm’s needs. But, there are common types
that your provider will most likely recommend to you:
General/Professional Liability InsuranceFor unfortunate third-party
claims of property damage, physical injury, or defamation, your
general liability insurance will cover any medical or repair bills plus
legal fees if they sue your firm.

9. Meanwhile, your professional liability insurance will
cover the necessary legal fees for lawsuits over your
professional services as a staffing agency. This
includes any errors, omissions, or misleading
statements.
Commercial Property Insurance Commercial
property insurance will cover the necessary repairs
if your staffing agency gets damaged due to fire,
theft, vandalism, and other life-threatening events.
Commercial Crime Insurance Commercial crime
insurance will come in handy if a client loses
finances and property due to illegal activities like
theft, forgery, and computer theft committed by
the placed employee or outside actor.
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10. Workers’ Compensation Insurance No matter the industry, most states
require a company to get Workers’ Compensation Insurance for their
employees. This insurance covers medical bills, rehabilitation costs, and
lost wages if a placed employee gets injured or ill within the workplace or
while on duty.
This type is also a good coverage, and frankly more needed, for staffing
agency insurance. Why should this be part of the staffing agency insurance
coverage? Well, it goes both ways.

11. On the one hand, employers who availed of it
will face less risk of workplace lawsuits,
penalties, or fines. On the other hand,
employees who will benefit from the
insurance will get the needed support in the
face of work-related injuries or
hospitalizations.
To Wrap It Up
No business comes without risk, which is
why it’s always the best course of action to
protect your assets. For more vulnerable
companies like recruitment, looking to invest
in insurance for staffing firms will prove
beneficial in the long run.