Global staffing firms play a pivotal role in both the rise of international corporations and the careers of many high powered international decision-makers whose careers start when they are placed in an environment where they can develop professionally and gain a cosmopolitan sensibility. Naturally, since your business is matching candidates with jobs that are often in other countries, you face unique exposures in the course of your daily operations. For most staffing firms, risk management staffing agency tactics involve tailored insurance that acknowledges your biggest risk is in the hiring process, as explained by the U.S. Risk programs page on the topic.
Why Is Hiring High-Risk For Staffing Agencies?
When you place candidates with client businesses, both parties take a risk because either of them could be a bad faith actor. It’s rare, but it happens sometimes. For your agency, the risk is doubled, because you deal with both sides of the process, finding the jobs and the people to fill them. You need insurance that accurately identifies your liabilities throughout the process. Once someone is in the workplace, the risk is shared with the client again, and your liability is different. Your coverage should reflect both periods accurately, with policies that take care of your interests and your employees so you can provide the excellent workplace experience they come to you for.