There are many challenges that faced staffing companies in 2021 — labor shortages, vaccination requirements, and tenuous client relationships are just a few. In 2022, many of these problems will persist, and there will be plenty of new challenges, too. Companies should create a business plan in order to plan for the new year. A thorough business plan is more important than ever, and it can help staffing companies meet goals, manage staff, and develop better relationships with clients. Read on to learn about the four essential components that should be included in every staffing agency business plan.
Performance Improvement
Employee performance is one of the most important responsibilities of every staffing agency. It can be overwhelming to manage employees when they are working at a clients’ site, but that’s exactly why it needs to be at the top of a business plan for 2022. Agency leadership should develop several key strategies to improve employees’ performance, including offering incentives, utilizing skills effectively, and training staff sufficiently. Integrating these into a business plan can help you strengthen the workforce, which is the most vital resource a staffing agency has.
COVID-19 Considerations
It’s unfortunately true that COVID-19 continues to affect workplace operations. Although most staffing agencies have become accustomed to this new reality, it shouldn’t be overlooked when it comes to creating staffing plans. In fact, it’s imperative that employers — including staffing agencies — continue preventing the spread of COVID by strategically managing resources. This includes maintaining the same safety precautions that became standard in 2020 and 2021. Staffing agencies should identify ways to maintain high compliance rates amongst employees and maintain a culture focused on prevention throughout client worksites.
Meetings With Managers
How do you plan future staffing needs and ensure that you can keep clients satisfied? Communication is the key, which means that a staffing agency business plan should include meetings with managers to discuss their needs. Too often, staffing agencies make the mistake of assuming their clients’ needs haven’t changed, which can lead to confusion when it’s time to make budgets and hire new staff. Agencies need to cut out one-on-one time with their clients to learn how their needs have evolved and develop new strategies to serve them.
Plans for the Unexpected
If 2020 and 2021 taught us anything, it’s the need to prepare for the unexpected. Investing in staffing business insurance can help agencies do this effectively. Staffing business insurance covers a wide breadth of liabilities that affect each part of the industry, including employment practices liability, general liability, and professional liability. Insurance coverage should be included in any staffing agency’s business plan and agencies should partner with a trusted insurer to find the right level of coverage.
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.