Who would benefit most from working with TriNet?
Startup with Founding Team
Startup to PEO: Not ideal for groups under 10 employees. In recent years, TriNet has moved away from the groups under 10 and may not even quote unless you have at least 5 employees. Depending on your timeline, it could be a great solution; however, TriNet does have a minimum monthly billing that aligns to the admin fees of 10 employees no matter the employee count.
Reasons to buy: Aggressive short-term growth plans for groups planning to reach 10+ employees within 1 to 3 months from start date. Amazing employee benefits, consistent renewal pricing, simple HRIS technology platform, sales team is great to network with and has access to venture stage capital contacts.
SMB with an HR professional
PEO to PEO or Open Market to PEO or PEO to Open Market: TriNet is perfect for companies preparing to hire one or hundreds of employees in the next 18 months. Most of our venture backed clients specifically highlight the custom reporting features and personalized professional service model when HR issues arise.
Reasons to buy: Employee benefits, regional medical plan pricing, great technology platform, multiple carriers, employee service center, 24/7 chat, HR guidance, and simple per employee per month pricing model. Our clients also enjoy the sales team's industry specific focus, as it allows you to compare what others in your industry are doing to remain competitive in your current environment.
Quickly Scaling company with 2+ in HR Department
PEO to PEO or Open Market to PEO or PEO to Open Market: TriNet is a great option for groups who are scaling quickly. Many of their clients are venture backed and the reporting features allow you to grant admin access to multiple "trusted advisors". This is crucial if you are using business process outsourcing services like fractional CFOs, CPAs, Insurance Brokers, or HR consultants.
At 50 employees, it is important to know whether you are large group or small group. Depending on the company's HQ state. Your group may be ready to move to a large group plan on the open market or through level-funded plans. Employee benefits are priced differently for large groups versus PEO or small group ACA plans. How? Carriers for large group plans look at your employee demographics, premiums vs claims, and even what services or prescriptions are being used by your employees on the census provided.
In order to shop level-funded or large group plans against a PEO, you need access to an experienced insurance broker who understands the the PEO model. If you are or plan on being a large group in the next 18 months, benchmarking the PEOs to both large group fully insured and level funded plans directly with the carriers is extremely important.
A perk of being on a large group plan are the insights on claims for your group. A savvy broker will access your group's claims data and create a specific cost sharing strategy that allows the employer to correctly assist the carrier in pricing your group. Helping the three parities: employer, broker, and carrier avoid high renewals and properly manage rising insurance costs!
Reasons to Buy: Employee benefits, regional medical plan pricing, great technology platform, multiple carriers, employee service center, 24/7 chat, HR guidance, and simple per employee per month pricing model. Our clients also enjoy the sales team's industry specific focus, as it allows you to compare what others in your industry are doing to remain competitive in your current environment.
How does TriNet deliver their services?
HRIS Integrations/ APIs: TriNet's' HRIS platform is very user friendly with an intuitive employee interface. TriNet has an App Shop with over 500+ integrations already prebuilt. The integrations cover a variety of services from HR, Finance, and IT. This solution is perfect for companies with a remote workforce.
Admin Support: If you are an employer or account administrator, you will have access to a dedicated support team for your account. They typically assign you a main point of contact and connect you directly to a specialist if the issue requires special attention like a bonus check allocation or how to report a workers compensation claim. They are available via email, chat, or phone.
Employee Support: As an employee, you can expect assistance with locating your benefits contacts, accessing your 401k, questions on a technical issue with the platform, or even a walk through of how to select your health plans. Most employees call in because they are troubleshooting a simple problem or familiarizing themselves with the platform.
How does TriNet price their solutions?
TriNet prices their PEO and HR service platforms on a per employee per month basis. TriNet is customizable and you may not need all of their products, so they have designed the billing in a way that helps you forecast cost by knowing the cost per user. Some PEO models charge a percentage of payroll; however, many customers find this confusing and TriNet prides itself on offering transparent billing.
TriNet does offer benefits through their PEO and they also allow you to carve out benefits and keep your current plans with your broker if needed. TriNet partners with third party providers and carriers so you can offer: health insurance, 401(k), commuter, and more.
Aetna or Blue Cross are the most popular carriers we see our clients using on TriNet. An amazing note with TriNet is they write their plans regionally, meaning if you have a multi-state workforce they have plan designs and offer carriers that are more compatible with the employees home zip code. We enjoy partnering with TriNet because they take the time to diligence groups thoroughly in the evaluation process.
At times, clients feel it is cumbersome and our response is to support PEOs who are more selective as it impacts the performance of the PEO's master insurance plan. Leading to better rates for all companies on the plan with normalized renewals year over year.
You can get your Workers Compensation through TriNet or simply keep it with your current broker as a Workers Comp carve out. TriNet allows you to have a pay-as-you-go workers compensation payment each pay period versus the traditional quarterly or annual audit most companies use.
How to get a quote for TriNet's services?
Work with Broker
A good broker will manage quoting process, negotiate best terms and pricing, and assist in the collection of RFP documents. A great advisor will know which options to share with you, because they understand your business. Some brokers don’t understand PEO because It’s complicated and includes a ton of knowledge around how payroll and tax payments work so be sure to work with someone knowledgeable.
Direct to Company
Great if you know exactly what you want and understand how to financially engineer a PEO’s total offering from WC, fed + state payroll tax, retirement funds, employee benefits, HRIS software billing, and much more.
TriNet is a great option to consider and you can find out more about TriNet on their website at https://www.trinet.com/
If you would like us to help you compare TriNet to other providers schedule some time on our calendar here.
We typically save our clients between 50 and 70 hours while finding the best companies and services specific to their needs.