Every business faces risks. Some are more prone to negative, unexpected events than others. While your small business should definitely have an insurance policy in place, preferably one obtained through Daniels Insurance, there are also various ways you can reduce risks on your own.
Be Conscious of Cash Flow
Many small businesses deal with a lot of cash. You want to calculate how much money you generally make and how much you would need should your cash flow become stagnant. A contingency plan should be drawn out where you lay out what expenses you could do without and the minimum number of employees you would need to keep the business running efficiently.
When Anything Changes, Get Insured
Small businesses are constantly in flux. Over time, you may want to open up a second location or move to a larger facility. Any time something changes, even if it seems small, you need to speak with your insurance agency to see if your policy needs to be updated. You do not want to be caught with the wrong kind of insurance or not enough for your current needs.
With the proper precautions, your small business should have no issues thriving. An agent from Daniels Insurance would be more than happy to meet with you to discuss your needs and find a policy that works ideally for you.
Temporary employees need the same type of safety and security as full time workers, but they often fall outside the purview of any employee insurance. To help provide some benefits to temporary workers, OSHA enacted the Temporary Worker Initiative in April of 2013, which provides temporary workers the same protection as employees under OSHA. It falls to staffing agencies to have staffing insurance to cover and protect these temporary and contract workers.
It is Your Obligation to Ensure the Safety of Your Workers
As a staffing firm, the temporary workers you employ for your clients fall under your liability and workers’ compensation coverage for any unsafe working conditions and other problems your workers may encounter. Therefore, it is up to you to research the host company to ensure that there is a safe working environment for the staff members you send on the job.
You Must Communicate With Your Employees
As a staffing agency, it is your obligation to communicate any health hazards or other risks on the job to the temporary employees that you place. Although the host company may still train and otherwise go over any risks involved, the company is not legally obliged to do so. This also means that any workplace injuries, accidents, illnesses, or other problems also must be communicated directly to you.
With the number of temporary and contract employees expected to continue to rise, you need to protect your workers and yourself with staffing insurance.
Businesses have a lot to consider when it comes to taking care of their employees and their clients. This is especially evident when you look at all of the different staff insurance liability policies that are available. In the staffing industry, you need to be able to help your permanent employees, temporary employees, businesses that you work with, and your clients.
Allegations can Come From Anywhere
The threat of a lawsuit could come from anywhere. Problems can arise from allegations by employees or by applicants that you work with. The nature of the allegation could be a number of different things, including sexual harassment, a claim of wrongful termination, or discrimination against an employee or applicant. The point is to be prepared. If wrongful termination, discrimination, or sexual harassment are all possibilities for your business (as they tend to be with the staffing industry), then you might want an employment practices liability policy. If it is possible that an employee or applicant could get injured on the job, then having workers compensation may be necessary (and is required by law in certain places).
Preparation is Protection
You can’t have the protection of a policy unless you have applied for and added a liability policy to your coverage. To be prepared for anything, you need to know which liability insurance you need and make sure that you apply for it.
There are quite a few staff insurance policies available. If you really want protection from specific situations, you need the right liability insurance. Employment practices liability helps to protect from discrimination, sexual harassment, and even wrongful termination. Ask your agent about your liability insurance right away.