Staffing firms are a vital part of today’s workplace. Companies of all sizes look to staff agencies for temporary help during busy times as well as for finding skilled permanent hires. The staffing industry, while prosperous, does have some inherent risks. Savvy owners will purchase staffing business insurance before sending out any candidates.
The role of quality staffing insurance is to protect employment firms from claims brought by applicants, employees, in-house staff, and clients. This type of coverage can defend against various types of claims, including discrimination, wrongful termination, and sexual harassment. Purchasing this type of important insurance starts the process of opening a new staffing firm. Once you have coverage in place, here are the steps that come next.
1. Take Care of Details
Opening and expanding your staffing firm takes work, energy, and attention to detail. Set up a business plan. To do this, you need to ask yourself several questions, including:
- Are you focusing on revenue or profit?
- Will you serve a specific industry?
- Are you specializing in specific types of employees, such as temporary, contract, or permanent?
Once you have business details in place, you can answer more important questions. How much money do you need to start a staffing agency? There is no set answer. Some employment agencies have been set up by those with deep pockets, while other successful firms have been established using $2,000 or less. The key to success is planning, organization, and resource assessment. Decide what you can do and what tasks you need to outsource.
2. Spread the Word
In the competitive staffing industry, marketing and sales strategies are vital for long-term success. Distinguish yourself from competing firms by establishing a selling point that may include but goes beyond generic phrases such as “excellent customer service.” Advertise what makes you different on an easy-to-use, mobile-friendly website. Check review sites regularly for mentions of your firm.
Focused sales will propel your staffing firm forward, whatever your goals may be. Define your target audience and seek referrals from satisfied clients. Establish creative techniques for lead generation. Leverage the great power of social media to spread awareness of your services and establish an online presence and reputation. Through social media platforms such as Facebook, Twitter, and Instagram, you can not only interact with prospective clients and candidates but also offer valuable content that helps establish you as an expert in your niche.
3. Efficiency and Growth
Use technology to train candidates and employees, and be sure to use this as a selling point. Your staffing business insurance protects your company from lawsuits so you can focus on growth. Stay current with industry trends and news, and make efforts to network with prospective and existing clients. Just as you offer employees ongoing training, look for ways to use technology to stay current, stay in touch, and stay ahead of competitors with innovative strategies and old-fashioned service.
About World Wide Specialty Programs
For the last 50 years, World Wide Specialty Programs has dedicated itself to providing the optimal products and solutions for the staffing industry. As the only insurance firm to be an ASA commercial liability partner, we are committed to that partnership and committed to using our knowledge of the industry to provide staffing firms with the best possible coverage. For more information about Staffing Professional Liability Insurance or any other coverage, we have available to protect your staffing business, give us a call at (877) 256-0468 to speak with one of our representatives.