staff insurance

Running a Staffing Agency and Staff Insurance

Before starting up a new staffing company you should do some research to understand everything that’s involved in running a successful enterprise of this kind. Normally, the first step in opening a business is to incorporate in states that you’ll be conducting business in. The smart move is to consult with your attorney about the best way to set up your business (incorporate, LLC. or partnership, for example), and it’s vital that you put a layer of protection between your personal and business assets with various staff insurance policies for the many exposures that you could face.

Define the market you’ll be operating in

Most entrepreneurs that start a staffing company have experience in the industry. Many have worked for other agencies as a branch or regional manager, while some specialized in recruiting or sales. Others still have previously owned a staffing company, sold it, and then decided to open a new company.

Whatever your background, it helps to define exactly which market you feel you’ll be successful providing talent to. Some occupations that offer good staffing opportunities are accounting, finance, administration and clerical, industrial, healthcare, IT, or various professional areas (medical, for one). Depending on your personnel, it might be necessary to concentrate on one area, and then branch out to others as you bring in industry experts who operate in other professions.

It’s important to define your strengths

Working in areas where you have some experience or expertise, whether it’s in sales and business development, marketing, operations, or financial acumen, will define your role within the organization. Once you’re setup, start marketing your services to potential clients, utilizing many outlets to garner new business.

Joining social networks such as Linkedin, Twitter, Facebook, or others is certainly a great place to start. Use your existing contacts to leverage other contacts, making it known that you’ve a started a new business venture. You’ll need to contact your phone company in order to set up your business lines, and you have the option to either lease or buy office equipment (copy/fax machine, phone system, etc).

Hire the best employees

Posting jobs online can generate a lot of candidates for positions at your company. Once you have a solid dependable staff you can begin the process of marketing your services and start interviewing candidates for staffing purposes. Getting staff insurance will protect your business and your employees from many risks and exposures related to running your operations.