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TriNet Group, Inc. (NYSE: TNET) is a leading provider of comprehensive human resources solutions tailored for small and medium-sized businesses (SMBs). Founded over 30 years ago, TriNet offers an array of industry-specific HR services through its Professional Employer Organization (PEO) model, which includes payroll management, employee benefits, risk mitigation, compliance, and R&D tax credit services. The company also provides advanced human resources information systems (HRIS) via the TriNet Cloud platform, enabling seamless integration of HR functions.
TriNet's core business revolves around delivering bundled HR products that simplify the administrative and regulatory burdens of HR, allowing businesses to focus on growth and innovation. By entering a co-employment arrangement, TriNet acts as the employer of record for administrative purposes, thereby enabling clients to leverage its scale and expertise to access competitive employee benefits, share employment risk, and ensure compliance with complex regulations.
In recent years, TriNet has expanded its service offerings and market reach through strategic acquisitions, such as the purchases of Zenefits and Clarus R+D in 2022. These acquisitions have diversified TriNet's revenue streams, with a notable portion now coming from self-service HCM software and R&D tax credit services.
TriNet's latest initiatives include product enhancements aimed at adapting to the needs of an increasingly distributed and agile workforce. Key enhancements include support for managing global workforces, paying independent contractors, and offering a modernized learning management system powered by AI-driven course recommendations. Additionally, TriNet has forged a strategic partnership with Healthee to provide AI-powered digital solutions that enhance health and wellness experiences.
Financially, TriNet has demonstrated robust performance, achieving significant milestones such as strong earnings, prudent expense management, and successful capital allocations, including stock buybacks and bond offerings. The company’s commitment to innovation and customer-centric services has led to high customer retention and satisfaction scores.
TriNet continues to be a trusted HR advisor to thousands of SMBs across various industries, empowering them to navigate HR complexities, stay compliant, and focus on core business functions.
For more information, visit TriNet.com or follow TriNet on social media platforms like Twitter, Facebook, LinkedIn, and Instagram.
TriNet (NYSE: TNET), a provider of HR solutions for SMBs, has announced that its Board of Directors has approved a quarterly dividend of $0.25 per share of common stock. The dividend comes with key dates for shareholders: both the record date and ex-dividend date are set for January 2, 2025, while the payout date is scheduled for January 27, 2025.
TriNet (NYSE: TNET) has released its fourth annual Environmental, Social and Governance (ESG) report for 2024, highlighting the company's commitment to sustainability, workplace diversity, and corporate governance. Key initiatives include updating environmental policies, expanding global workforce solutions, and improving corporate social responsibility programs. The company achieved a 95 out of 100 rating in the Human Rights Campaign's Corporate Equality Index, up from 75 previously. TriNet has also enhanced its Inclusion, Diversity, Equity and Accessibility (IDEA) program and implemented new business practice policies including Anti-Money Laundering and Anti-Corruption measures.
TriNet (NYSE: TNET), a leading provider of HR solutions for SMBs, has announced its leadership's participation in four upcoming investor conferences. President and CEO Mike Simonds and CFO Kelly Tuminelli will present at the J.P. Morgan Ultimate Services Investor Conference (Nov 14), Bank of America Leveraged Finance Conference (Dec 3), UBS Global Technology and AI Conference (Dec 4), and T.D. Cowan Human Capital Management Summit (Dec 9).
Live webcasts and replays will be accessible through TriNet's Investor Relations website at investor.trinet.com.
TriNet Group (NYSE: TNET) reported Q3 2024 financial results with total revenues increasing 1% to $1.2 billion year-over-year. Professional service revenues remained flat at $184 million. Net income decreased to $45 million ($0.89 per diluted share) from $94 million ($1.63 per diluted share) in the same period last year. Average WSEs increased 7% to approximately 356,000. The company held $251 million in unrestricted cash and cash equivalents, $195 million in unrestricted investments, and total debt of $1.1 billion. Management noted challenges from higher healthcare costs impacting profitability and provided Q4 guidance projecting total revenue growth between -1% and 2%.
TriNet (NYSE: TNET), a leading provider of HR solutions for SMBs, has announced Varsha Kakati as the new Vice President and India Country Leader. Kakati will lead operations at TriNet's Global Capabilities Center (GCC) in Hyderabad, India, which opened in August and supports about 600 team members.
Kakati brings over 24 years of business and technology leadership experience, most recently serving as VP of Technology and GCC Leader at Saks OFF 5TH. She has also held senior roles at Deloitte Consulting, Mercedes-Benz, General Electric, and Oracle. Kakati is a Chartered Accountant with a Bachelor of Commerce from Karnataka University.
TriNet's leadership, including CEO Mike Simonds and CTO Jeff Hayward, expressed confidence in Kakati's ability to strengthen operations in India and contribute to the company's global growth strategy.
TriNet (NYSE: TNET), a provider of HR solutions for SMBs, has launched a new book titled 'From Hire to Retire: A Guide to the Employee Life Cycle'. Authored by Michael Mendenhall, TriNet's SVP and CMO, the book offers a practical roadmap for managing all aspects of the employee experience and lifecycle.
The guide covers key areas including:
- Attracting and selecting talent
- Fostering a positive work environment
- Providing training and development opportunities
- Managing performance and rewards
- Supporting employee well-being
- Facilitating retirement transitions
The digital version is available now, with a print edition to be shared at a TriNet PeopleForceX event in New York City on October 10. The book has received positive feedback from HR professionals, who praise its comprehensive content and practical advice.
TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs), has announced it will release its financial results for the third quarter ended September 30, 2024, before U.S. market hours on Friday, October 25, 2024. The company will host a conference call at 5:30 a.m. PT (8:30 a.m. ET) on the same day to discuss the results.
Interested parties can access a live webcast of the conference call on the Investor Relations section of TriNet's website. Pre-registration options are available for both the webcast and the conference call. Those who pre-register for the call will receive a unique PIN for instant access. Alternatively, participants can dial +1 (412) 317-5426 and request access to the "TriNet Conference Call".
A replay of the webcast will be available on TriNet's site for approximately one year, while a telephone replay will be accessible for about two weeks.
TriNet (NYSE: TNET), a leading provider of comprehensive HR solutions for SMBs, has announced a quarterly dividend of $0.25 per share of common stock. The dividend has a record date and ex-dividend date of October 1, 2024, with a payout date of October 28, 2024. This announcement demonstrates TriNet's commitment to returning value to shareholders and reflects the company's financial stability. The dividend payment may be of interest to income-focused investors and could potentially impact the stock's attractiveness in the market.
TriNet (NYSE: TNET), a leading provider of HR solutions for SMBs, has announced significant changes in its leadership team. Sidney Majalya has been appointed as Senior Vice President, Chief Legal Officer and Secretary, effective September 16, succeeding Samantha Wellington, who is departing after eight years with the company. Majalya brings 25 years of legal, risk, and compliance experience, most recently serving as TriNet's Vice President and Deputy General Counsel.
Mike Simonds, TriNet's President and CEO, expressed confidence in Majalya's qualifications and leadership skills. He also acknowledged Wellington's contributions, particularly in building a strong legal and compliance team and advancing TriNet's ESG initiatives, especially in diversity and inclusion.
TriNet (NYSE: TNET) released its 2024 State of the Workplace report, revealing insights into emerging trends for small and medium-size businesses (SMBs). Key findings include:
1. 88% of SMB employers are using AI for various functions, while 71% of employees report using AI on the job.
2. Only 52% of workers are satisfied with work-life balance, compared to 61% of employers.
3. 85% of employees report being engaged at work, aligning closely with employers' estimate of 81%.
4. 57% of workers are open to new job opportunities, with benefits ranking as a top factor for job consideration.
5. There's a gap in perception regarding benefits accessibility, with employers overestimating how easily employees can utilize their benefits programs.
The report, based on surveys of 630 employees and 588 employers, provides valuable insights for both SMB employers and employees on workplace dynamics, AI adoption, and HR automation.
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