Staffing firms offer flexibility to any employer with personnel needs. The advantages of outsourcing labor have led the industry to grow to over $80 billion in 2005. Companies appreciate the ability to quickly ramp up production or bring in a specialty employee for a short term contract. Employees say they use temporary staffing as a bridge to full time employment.
Professional Employment Organizations (PEOs) are a relatively new industry, only having started in the late 1970’s, but their popularity has soared. PEOs now operate in all 50 states and bring in over $68 billion revenue in 2008. PEOs help American small and midsized businesses to be able to handle the growing demands of government regulation.
Though staffing and PEOs are such large industries, very few receive the insurance expertise these employment companies need. Insurance carriers have a difficult time insuring these companies. Underwriters want to know: What will the employee be doing at the job site? How long will they be there? Do they have the proper training? Is the job site safe? This ambiguity has led many insurance carriers and insurance agencies to avoid working with this dynamic industry.
Swingle Collins, on the other hand, has over a decade of experience in recruiting, and we have become a leading risk management firm for the employment industry. Employment agencies have found that Swingle Collins is able to broaden their coverages while driving the lowest available price in the marketplace, typically saving companies 20-40%. Swingle Collins insures all types of staffing agencies from light industrial to locum tenens. We also work with our clients to help them through the WRC Certification process.
