Statistics estimate that 50 million, or 17 percent, of America’s baby boomer population will be age 65 or older by 2020. The need for healthcare professionals continues to rise as a result, and presents greater placement opportunities for staffing agencies. Increased placements and escalated risk typically go hand in hand, which can make appropriate temporary staffing agency insurance policies more important than ever before.
In times of economic change, organizations typically opt for contract employees as an initial step in order to determine job fit. Current and future demographic, economic, population and policy changes imply significant boosts in temporary worker needs. For example, in order to satisfy future healthcare demands, data indicates that the number of nursing graduates per year would need to rise by 30 percent, which could also increase job pools.
Historical data indicates that full time personnel are screened more thoroughly and regularly than contract hires. Such situations could potentially put hiring establishments and staffing agencies at risk and compromise
- employee and patient safety,
- organization compliance,
- brand reputation and
- legal standing.
Errors and Omissions Professional Liability insurance provides coverage in the event that screening or testing is overlooked or conducted improperly. Customized policies can also offer all-encompassing protection that covers work performed and services delivered. Trained insurance companies can help to guarantee that proper temporary staffing agency insurance coverages are employed, which may help to improve business and provide peace of mind.