The COVID-19 pandemic and its lasting economic effects have forced many staffing agencies to re-evaluate their business plans and the overall job market. When the pandemic hit, contingent workers were among the first to be laid off and many of those jobs have not returned. Industries like hospitality, once a profitable market for staffing firms, are not, in our experience, currently considered viable clients for staffing firms. Many restaurants and bars remain closed or at limited capacity due to state mandates with some having closed their doors forever.
"The pandemic has created jobs we never dreamt of a year ago..."
Many staffing firms are re-evaluating their talent pools and shifting gears to not only follow new job opportunities, but to also address the security concerns many companies have with allowing contingent staff to work remotely. Amid lingering COVID-19 concerns, staffing owners may need to take steps to ensure that temporary employees are entering into safe environments. Some of the questions retail agents are asking include:
- My staffing client was previously focused on a market sector that is still heavily affected by COVID-19. How do I help her successfully switch focus to different types of clients?
- What types of coverage should staffing agency owners have in place to protect their temporary workers on the job?
If one of my staffing client's temps contracts COVID-19, is it covered?
While COVID-19 has resulted in many layoffs, it is also responsible for new job opportunities. "The pandemic has created jobs we never dreamt of a year ago, like onsite temperature screeners, COVID-19 testers, contact tracers to identify people who may have been exposed to the virus, and health monitors to help enforce safety protocols," states Donna Crudeli, All Risks Staffing Agency WC Program Manager.
At this time, the workplace is vastly different and while some staffing firms are poised to meet the challenges, others may need to evaluate their talent pool to meet the demands of the current job market. All Risks' exclusive Staffing Agency program and its team of experts can help retail insurance agents and brokers turn their staffing clients' upheaval into an opportunity. With more than 50 years of combined expertise writing Package and Workers' Compensation solutions for staffing firms, our Staffing Team can help navigate the market as staffing firms rebuild.
In addition to access to multiple carriers and experts with up-to-date knowledge of appetite and class codes, another benefit the Staffing Agency program offers to certain policyholders is access to human resource guidance via an HR helpline.
If a retail agency's staffing clients are trying to determine what types of industries to pursue or how to protect temporary employees on the job, they can contact the All Risks Staffing Agency program team. This team understands the unique staffing agency insurance risks facing the industry. All Risks is one of the leading program administrators with the capability to underwrite staffing agency Workers’ Compensation and Package products. Contact us today to learn more about our insurance solutions.
All Risks Specialty, LLC (f/k/a All Risks, Ltd.) (hereafter “All Risks”), a subsidiary of Ryan Specialty Group, LLC (RSG), provides wholesale insurance brokerage and other services to agents and brokers. All Risks is a Maryland limited liability company based in Maryland. As a wholesale broker, All Risks does not solicit insurance from the public. Some products may only be available in certain states, and some products may only be available from surplus lines insurers. In California: All Risks of California Insurance Services, Ltd. License # 0B84526. ©2020 Ryan Specialty Group, LLC