Selecting the Best Partner Possible for your Staffing Company
Building a Strong Foundation: Selecting the Ideal Financial Partner for Your Staffing Firm
It's undeniable that leveraging vendor partnerships can help your staffing firm stay competitive. A good staffing firm partner's solution should free up time for you to focus on increasing their bottom line. So how do you know what to look for in a good partner?
Insurance Products
Does your prospective partner understand the unique needs of staffing companies and temporary employees? Are their insurance plans designed to meet those needs? For example, it's important for a partner to offer tailored products that provide value to your employees - specifically those with varying job assignment lengths and wages who may not be able to fully use a high-deductible major medical plan. Does your prospective partner offer plans that are truly usable and affordable? Do they also address your needs to remain ACA-compliant?
Administrative Platform and Best Practices
It's important to research whether your prospective partner designed their administrative programs, enrollment methods, and communication tools specifically for staffing firms. Be sure to look for simplicity in their program, such as benefits being offered at the time of hire or their payroll deducted benefits having coverage periods that align with your payroll cycle. This saves your company time and resources because you won't have to track down employees to enroll after placement or collect missed premium payments if an employee only worked part of the month. Small attention to detail in the administrative process goes a long way.
Customer Service and Reputation
It's clear that not every benefits solution or plan is "one size fits all," so finding a program that's a right fit for your company is key, but it's also important to consider a prospective partner's customer service before committing. How highly are they rated by their clients? What industry are their clients in? If the partner you're vetting has high ratings and shining feedback from staffing firms like yours, this is your green light to reach out and form a partnership.
Don't know where to start?
Check out Essential StaffCARE, an expert in staffing benefits, recipient of ClearlyRated's Best of Insurance Award, and an esteemed member of the National Association of Health Underwriters. Their team is ready to answer any questions you may have about getting a partnership established.
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