Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 ·...
Transcript of Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 ·...
![Page 1: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/1.jpg)
Thought Leadership Series
This webinar is broadcast through your computer speakers via the audio broadcasting icon on your screen. You may adjust the sound volume by using the slide bar on the audio broadcasting icon. If you cannot access the audio, you may dial into the call by dialing 1-‐650-‐479-‐3208 and using access code 662 628 913. Need further assistance? Contact SIA customer service at 800-‐950-‐9496.
Presented by:Rich Altus, PresidentPeople 2.0
Jason Lannie, Vice President – Risk ManagementPeople 2.0
Rebecca Sokolowski, Vice President – Affiliate ServicesPeople 2.0
Moderator: Adrianne Nelson, Director, Global ServicesStaffing Industry Analysts
Sponsored and presented by
November 30, 201610 am PT/ 1 pm ET
©2016 by Crain Communications Inc. All rights reserved. 1
Critical Ways to Control Your Enterprise-Wide Risk Exposure
![Page 2: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/2.jpg)
Thought Leadership Series
Welcome to the Staffing Industry Analysts Thought Leadership Series
Suppliers Of Staffing Services Share Their Expertise
The Staffing Industry Analysts Industry ThoughtLeadership Series provides the perspective of the suppliersof staffing services. The views expressed in this webinarare those of the sponsor and not necessarily that ofStaffing Industry Analysts.
This webinar is broadcast through your computer speakers via the audio broadcasting icon on your screen. You may adjust the sound volume by using the slide bar on the audio broadcasting icon. If you cannot access the audio, you may dial into the call by dialing 1-‐650-‐479-‐3208 and using access code 662 628 913 Need further assistance? Contact SIA customer service at 800-‐950-‐9496.
©2016 by Crain Communications Inc. All rights reserved 2
![Page 3: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/3.jpg)
Thought Leadership Series
Logistics• Listen through your computer by turning on your
speakers after you log into the event. Sound will be coming through this icon:
• Do not close this audio broadcast box.
• To increase the volume of sound coming through your computer speakers adjust the sound bar on the audio broadcast box shown above.
• Q & A: To get assistance or ask questions – use the question function on the webcast control panel
• Tech Support: If at any time you are experiencing problems with the webinar call global services at 800-‐950-‐9496 or our Webex assist through the Q&A.
• The webinar is broadcast through your computer speakers, if you are having trouble with the sound, please send a message to the webinar host using the Q&A function.
Slides: Copies of the slides used will be distributed to all attendees within 48 hours following the webinar and a replay of the webinar will be available at www.staffingindustry.com for a limited time
©2016 by Crain Communications Inc. All rights reserved. 3
![Page 4: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/4.jpg)
Thought Leadership Series
Today’s Speakers
©2016 by Crain Communications Inc. All rights reserved. 4
Rich Altus, President
Jason Lannie, Vice President – Risk Management
Rebecca Sokolowski, Vice President – Affiliate Services Adrianne Nelson,
Director, Global Services, Staffing Industry Analysts
Moderator:
![Page 5: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/5.jpg)
November 30, 2016
© 2016 People 2.0222 Valley Creek Blvd., Suite 100
Exton, PA 19341Phone 610-429-4111www.people20.com
Critical Ways to Control Your Enterprise-Wide Risk Exposure
Presented by:Rich Altus, PresidentJason Lannie, Vice President – Risk ManagementRebecca Sokolowski, Vice President – Affiliate Services
5
![Page 6: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/6.jpg)
What Enterprise-Wide Risk Management Can Do For You
Critical Ways to Control Your Enterprise-Wide Risk Exposure
When companies proactively acknowledge enterprise-wide risk management, they can:
Identify opportunities ahead of competitors
Rapidly pursue growth opportunities
Rapidly accommodate changes to their business
3-4x faster than the companies who don’t*
* As per PWC survey results
6
![Page 7: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/7.jpg)
Risks Impacting Your Business
Critical Ways to Control Your Enterprise-Wide Risk Exposure
Topics
7
![Page 8: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/8.jpg)
Risks Impacting Your Business
Risk Trends and Mitigating Measures
Critical Ways to Control Your Enterprise-Wide Risk Exposure
Topics
8
![Page 9: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/9.jpg)
Risks Impacting Your Business
Risk Trends and Mitigating Measures
Workers’ Comp Insurance Program Structures
Critical Ways to Control Your Enterprise-Wide Risk Exposure
Topics
9
![Page 10: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/10.jpg)
© 2016 People 2.0Phone 610-429-4111www.people20.com
Workers’ CompensationInsurance Program Structures
10
![Page 11: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/11.jpg)
Risk Financing AlternativesTransfer vs. Keep
Workers’ Compensation Insurance Program Structures
Transfer Keep
Complete Risk Transfer
Pure Self-‐Insurance
Guaranteed Cost
Small Deductible With Aggregate
Small Deductible
No Aggregate
Retro With Low Maximum
Retro With High Maximum
Large Deductible With Aggregate
Large Deductible
No Aggregate
Group Captive
Single Parent Captive
Qualified Self-‐Insurance
Uninsured
11
![Page 12: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/12.jpg)
Considerations
Best Price
Best Cash Flow
Risk Appetite
Ability to Retain Risk
Workers’ Compensation Insurance Program Structures
Letters of Credit
Cost of Claims Handling
Tax and Accounting
Back-office strength and expertise to manage
12
![Page 13: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/13.jpg)
Insurance Program Structure – Polling Question
What type of workers’ compensation insurance program do you currently maintain?
Guaranteed Cost
Low Deductible Program (i.e., less than $50,000)
Large Deductible Program (i.e., greater than $50,000)
Loss-Sensitive Retrospective (Retro) Program
Captive
Workers’ Compensation Insurance Program Structures 13
![Page 14: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/14.jpg)
Determining an Optimal Retention
Financial condition—the capacity of organization to retain losses (e.g., balance sheet and income statement concerns)
Risk tolerance of the organization
Ability to control losses
Expected losses—frequency and severity
The general rule is to transfer the unpredictable layers of risk
Workers’ Compensation Insurance Program Structures14
![Page 15: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/15.jpg)
Risk Financing AlternativesTransfer vs. Keep
Workers’ Compensation Insurance Program Structures
Transfer Keep
Complete Risk Transfer
Pure Self-‐Insurance
Guaranteed Cost
Small Deductible With Aggregate
Small Deductible
No Aggregate
Retro With Low Maximum
Retro With High Maximum
Large Deductible With Aggregate
Large Deductible
No Aggregate
Group Captive
Single Parent Captive
Qualified Self-‐Insurance
Uninsured
15
![Page 16: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/16.jpg)
© 2016 People 2.0Phone 610-429-4111www.people20.com
Workers’ Comp Insurance Program StructurePolling Question Results
What type of workers’ compensation insurance program do you currently maintain?
16
![Page 17: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/17.jpg)
© 2016 People 2.0Phone 610-429-4111www.people20.com
Enterprise-Wide Risks Impacting Your Business
17
![Page 18: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/18.jpg)
Enterprise-Wide Risks Impacting Your Business
Light Industrial / Industrial
28%
Clerical / Office29%
Professional (engineering, IT,
finance, accounting)27%
Healthcare16%
WHAT SERVICE CHANNEL DO YOU PRIMARILY SERVE?
18
N = 56
![Page 19: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/19.jpg)
Survey Results
What keeps you up at night
Actions taken or planned to mitigate risk exposures
Network and data security
Enterprise-Wide Risks Impacting Your Business19
![Page 20: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/20.jpg)
Enterprise-Wide Risks Impacting Your Business
Responses
0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1
Workers’ compensation costs
Cash flow management
High employment
Uncertain and/or changing work conditions at client worksites
Employee Screening Practices
Contractual risk transfer
Data protection/records privacy/IT security
Internal business controls
Business Continuity/Emergency Preparedness
Compliance with regulatory requirements
Performing work without an executed contract
Adequate business insurance coverage
What keeps you up at night as it relates to your staffing business?
20
![Page 21: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/21.jpg)
Enterprise-Wide Risks Impacting Your Business
Responses
0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1
High employment
Compliance with regulatory requirements
Customer/client retention
What keeps you up at night as it relates to your staffing business?
21
![Page 22: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/22.jpg)
Enterprise-Wide Risks Impacting Your Business
Responses
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Workers’ compensation costs
Employee Screening Practices
Data protection/records privacy/IT security
What keeps you up at night as it relates to your staffing business?
22
![Page 23: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/23.jpg)
Enterprise-Wide Risks Impacting Your Business
Responses
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Workers’ compensation costs
Cash flow management
High employment
Uncertain and/or changing work conditions at client worksites
Employee Screening Practices
Contractual risk transfer
Data protection/records privacy/IT security
Internal business controls
Business Continuity/Emergency Preparedness
Compliance with regulatory requirements
Performing work without an executed contract
Adequate business insurance coverage
Customer/client retention
What keeps you up at night as it relates to your staffing business?
23
![Page 24: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/24.jpg)
Enterprise-Wide Risks Impacting Your Business
Respon
ses
41.9%
6.5%
25.8% 25.8%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Assign responsibilities among existing core employees
Hire a risk and/or compliance professional
Outsource risk to a workforce engagement service provider
(e.g., People 2.0)
Nothing
What are planning to do in the next 12 months to mitigate your risk exposure?
24
![Page 25: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/25.jpg)
Enterprise-Wide Risks Impacting Your Business
Responses
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
Completed an IT risk assessment
Created and/or updated your password change policy
Upgraded/Increased network security
Moved data from local servers to a Cloud-‐based environment
Limited access to data records and other sensitive/confidential information to only individuals that require the information
Trained your personnel and/or tested systems to see how effective they are at preventing a security breach
Haven’t given it thought
What steps have you taken regarding the security of your network and data records?
25
![Page 26: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/26.jpg)
© 2016 People 2.0Phone 610-429-4111www.people20.com
Risk Trends and Mitigating Measures
26
![Page 27: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/27.jpg)
Workers’ Compensation Fraud
Employment Practices Liability
Cyber Liability
Risk Trends and Mitigating Measures
Risk Trends and Mitigating Measures
27
0% 20% 40% 60% 80% 100%
Workers’ compensation costs
Employee Screening Practices
Data protection/records privacy/IT security
What keeps you up at night as it relates to your staffing business?
![Page 28: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/28.jpg)
Risk Trends and Mitigating MeasuresWorkers’ Compensation Fraud
Workers’ Compensation Fraud –Polling Question
Have you been a victim or experienced WC fraud?
Yes or No
28
![Page 29: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/29.jpg)
Risk Trends and Mitigating MeasuresWorkers’ Compensation Fraud
Workers’ Compensation Fraud
3
29
![Page 30: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/30.jpg)
Risk Trends and Mitigating MeasuresWorkers’ Compensation Fraud
Workers’ Compensation Fraud
3Unlicensed Insurance Company
30
![Page 31: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/31.jpg)
Risk Trends and Mitigating MeasuresWorkers’ Compensation Fraud
Workers’ Compensation Fraud
3Unlicensed Insurance Company
Premium Deception
31
![Page 32: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/32.jpg)
Risk Trends and Mitigating MeasuresWorkers’ Compensation Fraud
Workers’ Compensation Fraud
3Unlicensed Insurance Company
Premium Deception
Claimant Fraud
32
![Page 33: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/33.jpg)
Risk Trends and Mitigating MeasuresWorkers’ Compensation Fraud
Workers’ Compensation Fraud
3Dancing Kia hamster pleads no contest in
workers’ comp fraud case
33
![Page 34: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/34.jpg)
© 2016 People 2.0Phone 610-429-4111www.people20.com
Workers’ Compensation FraudPolling Question Results
Have you been a victim or experienced WC fraud?
34
![Page 35: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/35.jpg)
Risk Trends and Mitigating MeasuresEmployment Practices Liability
Employment Practice Liability Issues
Wrongful termination
Defamation Wrongful discipline or demotion
Violation of FMLA, EEOC, FCRA, ADA or other such laws
Discrimination (age, race, gender, etc.)
Sexual harassment
Failure to employ or promote
35
![Page 36: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/36.jpg)
Risk Trends and Mitigating MeasuresEmployment Practices Liability
An Ounce of Prevention
Workplace Policies
Educate/Train
Hiring Practices
Job Descriptions
Documentation
36
![Page 37: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/37.jpg)
Risk Trends and Mitigating MeasuresCyber Liability 37
![Page 38: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/38.jpg)
Risk Trends and Mitigating MeasuresCyber Liability 38
How can this happen to me?
![Page 39: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/39.jpg)
Risk Trends and Mitigating MeasuresCyber Liability
$2.4M39
How can this happen to me?
![Page 40: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/40.jpg)
Risk Trends and Mitigating MeasuresCyber Liability 40
![Page 41: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/41.jpg)
Risk Trends and Mitigating MeasuresCyber Liability
Responses
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Workers’ compensation costs
Cash flow management
High employment
Uncertain and/or changing work conditions at client worksites
Employee Screening Practices
Contractual risk transfer
Data protection/records privacy/IT security
Internal business controls
Business Continuity/Emergency Preparedness
Compliance with regulatory requirements
Performing work without an executed contract
Adequate business insurance coverage
Customer/client retention
What keeps you up at night as it relates to your staffing business?
41
![Page 42: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/42.jpg)
Risk Trends and Mitigating MeasuresCyber Liability
Protect Yourself at All Times
Bring your own device (BYOD)
Use an effective password policy
Regular backups
Restrict email attachments
Incident response procedures in place
Educate employees
42
![Page 43: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/43.jpg)
Critical Ways to Control Your Enterprise-Wide Risk Exposure 43
![Page 44: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/44.jpg)
Critical Ways to Control Your Enterprise-Wide Risk Exposure
Key TakeawaysKnow, understand and monitor your risk exposure
“Don’t set it and forget it!”
Determine who is the subject matter expert in the room as it relates to managing risk, and ask yourself, “is this a function I desire to keep in house?”
Understand ways to detect workers’ compensation fraud and be mindful that it extends beyond claimant fraud
Recognize employment practice pitfalls and adopt preventative measures
Maintain data security and monitor the ever-‐growing and changing methods of criminal cyber activity or outsource this risk to a subject matter expert
44
![Page 45: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/45.jpg)
November 30, 2016
© 2016 People 2.0222 Valley Creek Blvd., Suite 100
Exton, PA 19341Phone 610-429-4111www.people20.com
Critical Ways to Control Your Enterprise-Wide Risk Exposure
Presented by:Rich Altus, PresidentJason Lannie, Vice President – Risk ManagementRebecca Sokolowski, Vice President – Affiliate Services
45
![Page 46: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/46.jpg)
46
![Page 47: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/47.jpg)
Thought Leadership Series
©2016 by Crain Communications Inc. All rights reserved. 47
Upcoming Staffing Industry Analysts Webinars:
December 13, 2016, 10 AM Pacific / 1PM Joint Employment-‐ Cost and Consequences-‐Presented by Kronos
January 17, 2017, 10 AM Pacific / 1PM Eastern Staffing Industry Analysts SIR Webinar
![Page 48: Critical(Waysto(Control(Your( Enterprise3Wide(RiskExposure · 2020-06-21 · Thought’Leadership’Series’ Welcome(to(the(Staffing(Industry(Analysts(ThoughtLeadershipSeries Suppliers(Of(Staffing(Services(Share(Their(Expertise](https://reader033.fdocuments.net/reader033/viewer/2022042414/5f2e27f7964127152b27c3d6/html5/thumbnails/48.jpg)
Thought Leadership Series
THANK YOU!
Copies of the slides and a link to the audio recording will be distributed to all attendees within 24 hours following the webinar. A replay of the webinar will be available at www.staffingindustry.com