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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) is partnering with Inc. Magazine to host a special SXSW edition of PeopleForceX on March 11, 2023, at 4:20 p.m. CT in Dublin, California. The event will feature remarks from Small Business Administrator Isabella Casillas Guzman and discussions led by TriNet's Chief Marketing Officer Michael Mendenhall. The focus will be on fostering customer loyalty through company culture and branding. This initiative highlights TriNet's commitment to supporting small and medium-sized businesses (SMBs) and emphasizes the significance of entrepreneurship in today’s economy.
TriNet, a provider of HR solutions for small and medium-size businesses, will have its Chief Financial Officer, Kelly Tuminelli, present at the Bank of America 2023 Information and Business Services Conference on March 16, 2023, at 10:45 AM PT (1:45 PM ET) in New York, NY. A live webcast will be available on the company’s Investor Relations website.
TriNet aims to simplify HR for SMBs by offering tailored solutions in human capital management, benefits, compliance, and payroll, supported by advanced technology.
TriNet will host the PeopleForceX event on February 28, 2023, in San Francisco, focusing on growth and innovation for small and medium-sized businesses (SMBs). The event will feature local leaders discussing the significance of building networks amidst market fluctuations. Key attendees include TriNet's Chief Technology Officer, Jeff Hayward, and other notable business figures. TriNet, listed on NYSE under the symbol TNET, offers comprehensive HR solutions tailored to SMBs, streamlining HR tasks while allowing businesses to focus on growth. For more details, visit TriNet.com.
TriNet (NYSE: TNET) announced the launch of its new micro-podcast, SMB Matters, aimed at providing insights and commentary on issues affecting small and medium-sized businesses (SMBs). Set to premiere on February 22, 2023, the podcast will feature experts discussing vital business trends and challenges. Notably, TriNet’s Senior Vice President, Michael Mendenhall, expressed excitement about the initiative, which aims to assist entrepreneurs in navigating the evolving business landscape. The podcast will be accessible on TriNet RISE, Apple Podcasts, Spotify, and other major platforms.
TriNet Group, Inc. (TNET) announced strong financial results for Q4 and FY 2022, with total revenues flat at $1.2 billion, and an 8% increase in total revenues for FY 2022, reaching $4.9 billion. Professional service revenues surged 18% to $754 million for the year, while net income grew to $355 million, or $5.61 per diluted share. The company also initiated a stock repurchase program of up to $545 million. Guidance for Q1 2023 suggests a modest 1%-2% revenue growth, with diluted EPS expected between $1.33 and $1.82.
TriNet (NYSE: TNET) has announced a partnership with the American Foundation for Suicide Prevention (AFSP) to enhance workplace mental health support. This collaboration aims to provide training programs, volunteer opportunities, and educational resources focused on suicide prevention. TriNet's Chief People Officer, Catherine Wragg, emphasized the significance of addressing mental health in the workplace. AFSP CEO, Robert Gebbia, noted the partnership's potential to save lives through accessible educational materials. This initiative aligns with TriNet's Corporate Social Responsibility program and aims to make a positive impact on mental health awareness.
TriNet (NYSE: TNET) announced that it will release its financial results for the fourth quarter and full year ended December 31, 2022, after market hours on February 15, 2023. A conference call to discuss these results will follow at 2:00 PM PT (5:00 PM ET) on the same day. Interested participants are encouraged to pre-register for the call to receive a unique PIN for immediate access. Those who do not pre-register can join by calling +1 (412) 317-5426. The live webcast will be available on TriNet's Investor Relations website, along with a replay for one year. TriNet provides HR solutions for small and medium-sized businesses, enabling them to focus on growth.
TriNet will host the PeopleForceX event on January 11 in Denver, focusing on the growth challenges facing small and medium-sized businesses (SMBs). The event aims to foster networking among local business leaders and will feature discussions with industry experts about navigating market shifts. Featured speakers include Lisa Reeves, Alison McQuillan, Aaron Stachel, and John Francis. This initiative showcases TriNet's commitment to providing comprehensive HR solutions, helping SMBs streamline operations and focus on growth.
TriNet (NYSE: TNET) has announced the launch of the second season of its podcast, Shifting Grounds, debuting on January 10, 2023. Hosted by Michael Mendenhall, TriNet's Senior VP and CMO, the podcast aims to spotlight small business leaders, sharing their entrepreneurial journeys and insights. The discussion will kick off with Drew Stein, CEO of Audigent, exploring themes of creativity and data. TriNet continues its commitment to empower small and medium-sized businesses by supporting their growth and innovation.
TriNet Group (TNET) announced the final results of its modified 'Dutch auction' tender offer to purchase up to $250 million of its common stock. The offer expired on December 6, 2022, and 1,515,258 shares were accepted at a price of $72.00 per share, totaling approximately $109.1 million. This represents about 2.4% of TriNet's outstanding shares. Following this, approximately $255 million will remain under the company’s existing stock repurchase program for future share purchases.
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