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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) will release its financial results for the fourth quarter and full year ended December 31, 2020, after U.S. market hours on February 16, 2021. The company will host a conference call at 2:00 p.m. PT to discuss these results, encouraging participants to pre-register for immediate access. A live webcast will be available on TriNet's investor relations website, with replays accessible for one year. TriNet specializes in providing comprehensive HR solutions for small and medium businesses, helping them navigate HR complexities.
TriNet, a leader in HR solutions for small and medium-sized businesses, is hosting a webinar titled Data Privacy Day 2021: Why Privacy Is Important to Your Business. Scheduled for January 28, 2021, the session will feature Lisa Waggoner, privacy officer, and Timothy Torres, chief security officer, discussing the significance of data privacy, common causes of breaches, and preventive measures for SMBs. The event aligns with Data Privacy Day, aiming to raise awareness about data security issues that have become crucial for businesses.
TriNet is hosting a webinar on January 7, 2021, at 12 PM PT, discussing the implications of the new COVID-19 stimulus package for small and medium-sized businesses (SMBs). The session will feature insights from senior executives including Samantha Wellington and Alex Warren, focusing on important changes like the Paycheck Protection Program (PPP) and new PPP 'Second Draw' Loans. Interested participants can register for the webinar here.
TriNet has announced the appointment of Maria Contreras-Sweet to its board of directors, enhancing its commitment to small and medium-sized businesses (SMBs). Contreras-Sweet, a former Administrator of the U.S. Small Business Administration and managing director of Rockway Equity Partners, has a strong background in advocating for small businesses. Her experience is expected to provide valuable perspectives as TriNet seeks to support SMBs during challenging economic times. This strategic move aims to strengthen the company's HR solutions tailored for diverse industries.
TriNet, a provider of HR solutions, announced the launch of TriNet Mobile v7.5 on November 18, 2020. This updated app is designed for small and medium-sized businesses, enhancing accessibility to HR data for employees with features like real-time paycheck history, benefits management, time-off requests, and flexible spending account claims. The new version includes multi-factor authentication for improved security, making it suitable for today's remote workforce.
TriNet (NYSE: TNET), a leader in HR solutions for small and medium businesses, announced that President and CEO Burton M. Goldfield will participate in a fireside chat at the Berenberg US CEO Conference on November 13, 2020, at 9:00 am PT (12:00 pm ET). A live webcast and replay will be accessible on the Investor Relations section of the TriNet website. This engagement highlights TriNet's role in providing tailored HR solutions, empowering businesses to focus on growth.
TriNet (NYSE: TNET) announced its participation in the virtual J.P. Morgan Ultimate Services Investor Conference on November 19, 2020, at 11:45 am PT. The company will be represented by Burton M. Goldfield, President and CEO, and Kelly Tuminelli, CFO. A live webcast and replay will be available on the TriNet Investor Relations website. TriNet provides comprehensive HR solutions for small and medium-size businesses, helping them focus on growth.
On October 22, TriNet held its inaugural virtual conference, TriNet PeopleForce, to address critical issues facing small and medium businesses (SMBs). The event featured former President George W. Bush and various experts discussing topics like diversity, workplace culture, and the future of work amidst the pandemic. Poll results showed that 53% of participants implemented DE&I training and 65% prefer a hybrid work model post-COVID. TriNet aims to support SMBs through HR solutions and insights, emphasizing their role as the backbone of the U.S. economy.
TriNet Group (TNET) reported its Q3 2020 results, with total revenues up 1% to $975 million. However, Net Service Revenues fell by 2%, totaling $216 million. Net income decreased to $33 million ($0.48 per diluted share), down from $55 million ($0.78 per share) a year earlier. Average Worksite Employees dropped by 4% to about 318,000. The company highlights its resilient customer base and focus on SMBs amidst economic challenges. TriNet has $563 million in cash and $609 million in debt.
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