TriNet Review: HR and Payroll for SMBs

Running payroll and managing HR can be extremely challenging for small and medium businesses. Most business owners would likely agree that it's difficult to handle these critical tasks while also focusing on core business operations.

Using a professional employer organization (PEO) like TriNet could be the solution. TriNet promises to deliver full-service HR, benefits, payroll, compliance, and technology resources to SMBs for a reasonable monthly fee.

In this review, we will provide an in-depth look at TriNet's services, pricing, implementation process, and pros and cons. You'll get key information to determine if partnering with TriNet makes sense for your growing business.

Introduction to TriNet

TriNet is a professional employer organization (PEO) that provides full-service HR, payroll, benefits, compliance, and risk management solutions for small and medium-sized businesses. This article provides an overview of TriNet's key services.

Overview of TriNet

Founded in 1988, TriNet serves over 18,000 clients across industries like technology, financial services, manufacturing, and nonprofit. They specialize in HR solutions tailored for companies with 10 to 2,500 employees.

TriNet's HR Services

TriNet offers a wide range of HR services including:

• Talent acquisition - job posting, applicant tracking, background checks
• Compensation planning - competitive salary benchmarking
• Performance management - goal setting, reviews
• HR administration - paperwork, compliance
• Workplace policies - handbooks, training

This allows clients to outsource the administrative burden of HR.

Payroll and Benefits Administration

TriNet handles payroll processing, tax filings, and benefits enrollment for client employees. Benefits include health insurance, retirement plans, paid time off, and more. This simplifies workload for clients.

Technology Platform and Mobile Apps

TriNet provides an online dashboard for access to HR data analytics. Mobile apps give managers and employees self-service access for common HR tasks.

Compliance and Risk Mitigation

TriNet helps clients stay compliant with regulations like Affordable Care Act reporting, sexual harassment policies, OSHA requirements, and more. They also offer risk management guidance to reduce workplace safety and HR liability.

Pricing and Contracts

TriNet offers competitive pricing for their full-service HR and payroll solutions. Here are the key details on their cost structure:

Base Monthly Admin Fees

TriNet charges a flat monthly fee based on the size of your company:

• 1-9 employees: $250/month
• 10-49 employees: $75/employee/month
• 50-199 employees: $60/employee/month
• 200+ employees: Custom pricing

This covers the core HR admin services like payroll, benefits, compliance, etc.

Per Employee Per Month Cost

In addition to the base fee, there is a per employee charge each month. This ranges from $8-$18 per employee depending on the service level selected. Higher tiers include more features like:

• Custom onboarding
• Robust reporting
• Access to HR experts
• Employee engagement tools

So the total monthly cost scales up or down directly based on headcount.

Add-on Costs

TriNet offers several add-on HR products and services for additional fees if needed:

• Recruiting and talent placement tools
• Employee training courses
• Time and attendance software
• Expense reporting software
• Custom analytics reporting

Pricing for these varies based on services used.

Multi-Year Discounts

Signing a longer initial contract can lead to discounts. 2-year contracts get 5% off and 3-year contracts 10% off.

So in summary, TriNet bases pricing on:

• Company size tier
• Number of employees
• Service levels selected
• Contract length commitment

This scales flexibly with transparent per employee pricing.

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Implementation, Training and Support

Onboarding new Clients

TriNet has a step-by-step onboarding process to smoothly transition new clients to using their HR platform and services. This typically involves:

• Initial consultation to understand the client's specific HR and payroll needs
• Data migration of all employee records into TriNet's system
• Custom configuration of HR policies, payroll schedules, reporting dashboards etc.
• Comprehensive employee enrollment, including digital forms, paperwork, and benefit selections
• Trial payroll runs to validate accuracy before go-live
• Dedicated account manager for questions and issue resolution

The onboarding period lasts around 4-6 weeks on average. TriNet project managers work closely with clients to ensure a seamless transition of all HR/payroll functions into their managed service model.

Ongoing Support and Resources

In addition to an assigned account manager, TriNet provides many self-service resources to empower clients to manage their own HR operations:

• HR Reference Center - searchable knowledge base with guides, checklists, templates covering core HR topics like recruitment, compensation planning etc.
• On-demand Training - short video tutorials for using platform features like applicant tracking, time-off requests etc.
• Monthly Newsletters - digestible updates on changing regulations, trends and best practices
• Ask the Expert - submit specific HR-related questions for answers from their team within 1 business day

These tools aim to educate clients and provide DIY support so they can become self-sufficient, only needing account manager assistance for complex or strategic issues.

Client Success Stories

Many SMBs have improved their productivity, lowered risks/costs and expanded their capabilities after implementing TriNet's HR solutions, including:

• Mitel - Saved $100k annually on HR administration costs after outsourcing this function to TriNet
• Jottify - Decreased time spent on HR tasks by 32% despite rapid employee growth
• AveriGo - Reduced insurance claim processing time from weeks to days using TriNet's benefits expertise

These examples highlight how SMBs can leverage TriNet's specialized HR resources/technology to enhance their operations and unlock business growth.

Pros and Cons of Using TriNet

TriNet is a professional employer organization (PEO) that provides full-service HR, benefits, payroll, compliance, and risk management services to small and mid-sized businesses (SMBs). As with any service, there are both advantages and potential drawbacks to consider when deciding if TriNet is the right fit.

Benefits for SMBs

TriNet offers several key benefits that can appeal to SMBs looking to outsource HR and payroll functions:

• Cost Savings: By leveraging TriNet's buying power and economies of scale, SMBs can often realize significant cost savings on benefits plans, workers comp insurance, payroll processing fees, and other HR-related expenses. This allows SMBs to redirect those savings into growing their business.

• Reduced Workload: TriNet handles all HR paperwork, compliance filings, benefits administration, payroll processing, and other complex tasks. This alleviates the burden on SMBs so they can focus on their core business operations.

• Access to Enterprise-Level Benefits: Through TriNet, SMBs can offer Fortune 500-level benefits packages to attract and retain top talent, including health insurance, retirement plans, life insurance, and more.

• Improved Compliance: TriNet's HR experts handle risk analysis, workplace policies, employee handbooks, compliance filings, and other areas to reduce compliance-related risks. This provides SMBs with greater peace of mind.

• Enhanced Data and Analytics: TriNet provides SMBs with access to comprehensive HR metrics, benchmarking data, and analytics on workforce performance and compensation trends. This empowers strategic business decisions.

Potential Challenges

While the benefits can be substantial, there are a few potential drawbacks of using TriNet that SMBs should also weigh:

• Loss of Direct Control: While TriNet manages day-to-day HR and payroll duties, SMBs give up some direct control and visibility in areas like applicant tracking, employee records, and payroll processing. Close collaboration with TriNet is essential.

• Reliance on Outside Vendor: SMBs become reliant on TriNet's systems and services, so any outages or service disruptions can directly impact business operations. Ensuring TriNet has strong continuity plans is critical.

• Implementation Hurdles: Transitioning to TriNet can involve data migration, system integration, and training challenges that require time and planning to address. Some disruption in the short-term may occur.

Overall, for most SMBs seeking to simplify HR and payroll complexities, the benefits of leveraging TriNet's expertise and resources far outweigh the drawbacks. But understanding the potential risks is important when evaluating options.

Conclusion and Verdict

Is TriNet Worth the Investment?

TriNet can provide significant value and return on investment for small and medium businesses looking to outsource HR functions. By handling payroll, benefits, compliance, and other administrative tasks, TriNet allows SMBs to focus on their core business operations. The cost savings from not having to hire specialized in-house HR staff often outweighs TriNet's fees.

Additionally, TriNet's HR expertise and resources can give SMBs strategic advantages. Access to Fortune 500-level benefits, risk mitigation, and tailored HR solutions tailored to SMBs' needs can aid growth and success. So for most SMBs, TriNet's comprehensive HR delivery model merits the investment.

Better Alternative to In-House HR

For the most part, TriNet offers a more affordable, specialized, and risk-averse HR solution compared to hiring in-house HR staff. Unless an SMB has very specialized HR needs or has over 1000 employees, TriNet can likely provide better ROI.

TriNet has extensive HR expertise from serving tens of thousands of SMBs that even large HR departments struggle to match. Combined with economies of scale, this allows TriNet to offer quality HR strategic support at significant cost savings for SMBs.

So rather than investing in building internal HR functions from scratch, partnering with TriNet to outsource those needs is the smarter choice for the majority of small and medium businesses.

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