TriNet Group helps clients focus on the bottom line. The firm provides employer and human resources services to about 13,000 small and midsized growth companies (with 10 to 500 employees) throughout North America. Clients primarily come from the financial, technology, and non-profit industries. TriNet offers administrative, professional, and human resources services, handling talent acquisition, payroll, benefits, and related functions such as managing health care plans and retirement plans, evaluating work performance, and running corporate Web portals. It also runs a Web-based HR portal through technology from Oracle. Founded in 1988, TriNet in 2014 began trading on the New York Stock Exchange.
TriNet's professional services system offers HR transaction capabilities, including payroll and tax admin, and a cloud-based record of HR transactions. The system allows for real-time employee-end paid time off requests and approval status, and payroll information.
TriNet offers clients and worksite employees sponsored benefits and insurance programs. The company makes 85% of its revenue from insurance services, and the remainder from professional.
Based in the San Francisco Bay area, TriNet has about 50 offices across the US and Canada. It generates 99% of revenue in the US.
Sales and Marketing
TriNet sells its services through a direct sales force who work in specific industry verticals. The company also uses billboards, digital and print advertising, e-mail, direct mail and social media. Its list of more than 13,000 clients have included EDL Consulting, GlobalLogics, Illinois Children's Healthcare Foundation, Jackboro National Bank, Primera Biosystems, and VIMAC Ventures.
TriNet serves a range of sectors and industries, including consulting, entertainment, financial services, healthcare, hotels & resorts, legal, life sciences, manufacturing, not-for-profit, professional services, real estate, restaurants, retail, skilled trades, and technology.
TriNet company has enjoyed significant growth over the last few years, and in fiscal 2015 revenue climbed 21% to $2.7 billion. The strong performance was driven by an increase in worksite employees (WSEs) and a resultant increase in insurance revenue per WSE. Net income has likewise been growing (although not as consistently as net sales), and leaped 105% to $31.7 million due to the higher revenue and a decrease bank fees relating to lower debt levels. Cash from operating activities fell 14% to $130.6 million due to cash used in WSE-related liabilities.
TriNet aims to grow geographically and through acquisitions, as well as expend its product offering. The company entered into an agreement with B2B CFO, a CFO and exit transition services firm, in 2015.
In 2015, it introduced a new HR platform called TriNet Not-for-Profit, intended to steamline HR admin and manage compliance.
Mergers and Acquisitions
TriNet acquired Teleborder, Inc., a California-based immigration HR service provider with a portfolio of small and midsized US businesses.