TRINET GROUP, Inc. (TNET): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage dynamique de la gestion des ressources humaines, Trinet Group, Inc. (TNET) émerge comme une force transformatrice, offrant aux petites à moyennes entreprises une solution complète qui révolutionne l'administration de la main-d'œuvre. En mélangeant de manière transparente la technologie de pointe avec des services RH experts, Trinet offre aux entreprises une approche innovante pour naviguer dans le monde complexe de la gestion des employés, des avantages sociaux et de la conformité - permettant aux entreprises de se concentrer sur leurs objectifs stratégiques de base tout en externalisant les fardeaux administratifs complexes qui consomment souvent du temps et des ressources précieux.

TRINET GROUP, Inc. (TNET) - Modèle d'entreprise: partenariats clés

Organisations professionnelles des employeurs (PEO) et fournisseurs de services RH

Trinet collabore avec plusieurs partenaires PEO pour étendre les capacités de service. Au quatrième trimestre 2023, Trinet a signalé 23 500 clients au total dans divers segments de l'industrie.

Type de partenaire	Nombre de partenariats	Impact annuel sur les revenus
Réseaux de PEO régionaux	12	47,3 millions de dollars
Fournisseurs de services RH nationaux	8	62,1 millions de dollars

Compagnies d'assurance et prestataires de prestations

Trinet maintient des partenariats stratégiques avec les principaux assureurs pour offrir des forfaits avantages complets.

• Blue Cross Blue Shield
• Aetna
• UnitedHealthcare
• Kaiser Permanente

Partenaire d'assurance	Portée de la couverture	Valeur du contrat annuel
Blue Cross Blue Shield	Couverture sanitaire nationale	38,5 millions de dollars
Aetna	Plans médicaux complets	29,7 millions de dollars

Partners de la technologie et de l'intégration des logiciels

Trinet s'intègre à plusieurs plates-formes technologiques pour améliorer la prestation de services.

• Jour de travail
• SÈVE
• Oracle
• Salesforce

Partenaire technologique	Focus d'intégration	Investissement technologique annuel
Jour de travail	Systèmes de gestion des RH	12,6 millions de dollars
Salesforce	Intégration CRM	8,3 millions de dollars

Réseaux commerciaux de petite à moyenne

Trinet s'engage activement avec les associations commerciales et les chambres de commerce.

Type de réseau	Nombre de connexions	Poute du client potentiel
Chambres de commerce locales	87	15 600 entreprises
Associations spécifiques à l'industrie	42	9 300 entreprises

Vendeurs de services de paie et de conformité

Trinet s'associe aux fournisseurs spécialisés de services de paie et de conformité pour assurer des solutions RH complètes.

Catégorie des vendeurs	Nombre de partenariats	Revenus de services annuels
Vendeurs de traitement de la paie	6	22,4 millions de dollars
Partenaires de gestion de la conformité	4	15,7 millions de dollars

TRINET GROUP, Inc. (TNET) - Modèle d'entreprise: Activités clés

Services de l'organisation professionnelle de l'employeur (PEO)

Trinet a traité 52 milliards de dollars de masse salariale en 2022. La société dessert environ 23 000 petites et moyennes entreprises à travers les États-Unis.

Métriques de service PEO	2022 données
Les clients totaux ont servi	23,000
Total de paie traitée	52 milliards de dollars
Taille moyenne des entreprises clients	15-250 employés

Externalisation des ressources humaines

Trinet fournit des solutions RH complètes aux entreprises, avec un accent spécifique sur les secteurs verticaux de l'industrie spécialisée.

• Startups technologiques Support RH
• Services professionnels Gestion des RH
• Solutions RH organisationnelles à but non lucratif
• Services RH de l'industrie des soins de santé

Administration des avantages sociaux des employés

Trinet gère des avantages sociaux pour plus de 346 000 employés de chantier au quatrième trimestre 2022.

Métriques de l'administration des avantages	2022 statistiques
Total des employés du site de travail	346,000
Plans de soins de santé gérés	Options de plusieurs niveaux
Administration du plan de retraite	401 (k) et services connexes

Traitement de la paie et conformité fiscale

Trinet a traité 52 milliards de dollars de masse salariale avec Précision de 99,9% en 2022.

• Conformité fiscale fédérale
• Services de déclaration d'État
• Gestion fiscale locale
• Traitement de la paie multi-États

Gestion des risques et solutions de travail

Trinet fournit des services complets d'atténuation des risques sur le lieu de travail dans plusieurs secteurs.

Services de gestion des risques	Détails de la couverture
Indemnisation des accidents du travail	Couverture nationale
Pratiques d'emploi	Protection complète
Programmes de formation à la sécurité	Modules spécifiques à l'industrie

TRINET GROUP, Inc. (TNET) - Modèle d'entreprise: Ressources clés

Plateforme de technologie HR propriétaire

Depuis le quatrième trimestre 2023, la plate-forme technologique HR propriétaire de Trinet prend en charge environ 21 000 petites et moyennes entreprises à travers les États-Unis.

Métrique de la plate-forme	Données quantitatives
Total utilisateurs	Plus de 380 000 employés
Investissement dans les infrastructures cloud	42,3 millions de dollars en 2023
Budget de développement de la plate-forme annuel	18,7 millions de dollars

Experts expérimentés des RH et de la conformité

Trinet emploie plus de 2 100 professionnels des RH ayant une expertise spécialisée dans l'industrie.

• Expérience professionnelle moyenne: 12,5 ans
• Spécialistes de la conformité: 350+ professionnels
• Professionnels des RH certifiés: 68% de l'équipe RH

Réseau complet d'assurance et d'avantages sociaux

Trinet gère l'assurance et les avantages sociaux pour plusieurs segments de l'industrie.

Catégorie d'assurance	Volume de couverture
Assurance maladie	Volume annuel de 275 millions de dollars
Indemnisation des accidents du travail	Couverture annuelle de 180 millions de dollars
Prestations de retraite	95 millions de dollars d'actifs gérés

Infrastructure cloud évolutive

L'infrastructure cloud de Trinet soutient les opérations RH critique de mission.

• 99,99% de disponibilité du système
• Conformité à la sécurité: SOC 2 TYPE II CERTIFIÉ
• Centres de données: 3 emplacements redondants

Connaissances approfondies de la conformité réglementaire

Trinet maintient des capacités de conformité complètes dans 50 États.

Métrique de conformité	Détail
Experts en réglementation	75 professionnels de la conformité dédiés
Formation annuelle en matière de conformité	1 200 heures et plus
Investissement de conformité	12,5 millions de dollars par an

TRINET GROUP, Inc. (TNET) - Modèle d'entreprise: propositions de valeur

Solutions RH complètes pour les petites et moyennes entreprises

Trinet fournit des solutions RH complètes ciblant les petites et moyennes entreprises avec des revenus annuels entre 1 et 250 millions de dollars. Au quatrième trimestre 2023, la société dessert environ 23 000 clients dans diverses industries.

Segment client	Nombre de clients	Gamme de revenus annuelle moyenne
Petites entreprises	14,500	1 M $ - 50 M $
Entreprises de taille moyenne	8,500	50 M $ - 250 M $

Réduction du fardeau administratif pour les entreprises

La plate-forme de Trinet réduit les frais généraux administratifs d'environ 40 à 50% pour les organisations clients.

• Temps moyen économisé sur l'administration RH: 10-15 heures par semaine
• Traitement automatisé de la paie pour 95% des transactions clients
• Gestion de la conformité dans 50 États et plusieurs juridictions

Accès aux prestations et assurance au niveau de l'entreprise

Trinet propose des packages de prestations compétitives généralement disponibles uniquement pour les grandes entreprises.

Catégorie de prestations	Niveau de couverture	Pourcentage de clients utilisant
Assurance maladie	Plans complets	92%
Plans de retraite	401 (k) avec correspondance	78%
Dentaire / vision	Couverture complète	85%

Gestion et conformité de la main-d'œuvre simplifiée

Trinet gère des réglementations complexes sur la main-d'œuvre dans plusieurs secteurs, réduisant les risques juridiques pour les clients.

• Support de conformité pour plus de 30 verticales de l'industrie
• Mises à jour réglementaires en temps réel pour 90% des clients
• Services d'atténuation des risques couvrant le droit de l'emploi

Alternative d'externalisation des RH rentable

Le modèle de tarification de Trinet offre des économies de coûts importantes par rapport aux départements RH traditionnels.

Métrique coût	Trinet Moyenne	Département des ressources humaines traditionnelles
Coût annuel de gestion des RH	1 200 $ par employé	3 500 $ par employé
Frais généraux administratifs	3 à 5% de la paie	8-12% de la paie

TRINET GROUP, Inc. (TNET) - Modèle d'entreprise: relations avec les clients

Gestion de compte dédiée

Trinet fournit une gestion des comptes personnalisée pour les petites et moyennes entreprises dans plusieurs secteurs. Au quatrième trimestre 2023, la société dessert environ 23 000 entreprises clients avec des services d'organisation professionnelle (PEO) dédiés.

Fonction de gestion du compte	Détails spécifiques
Taux de rétention de la clientèle moyen	92% en 2023
Nombre de gestionnaires de comptes dédiés	Plus de 1 200 spécialistes RH professionnels
Taille moyenne des entreprises clients	10-500 employés

Services de conseil en RH personnalisés

Trinet propose un conseil en RH complet adapté à des besoins commerciaux spécifiques.

• Développement de stratégie RH spécifique à l'industrie
• Consultation de conformité
• Services d'optimisation des avantages
• Avis de gestion de la main-d'œuvre

Plateformes en libre-service en ligne

Trinet fournit des plateformes numériques pour l'interaction et la gestion du client.

Fonctionnalité de plate-forme	Capacités
Utilisation du portail en ligne	Plus de 85% des entreprises clients utilisent activement les plateformes numériques
Disponibilité de l'application mobile	Application mobile de gestion des RH complète
Volume de transaction numérique	Environ 2,3 millions d'interactions numériques mensuelles

Revues régulières de la conformité et de la stratégie

Trinet procède à une conformité systématique et à des revues stratégiques pour les clients.

• Évaluations de la conformité réglementaire trimestrielle
• Sessions de planification des RH annuelles annuelles
• Surveillance en cours des réglementations juridiques et fiscales

Canaux de support client réactifs

Trinet maintient plusieurs mécanismes de support client.

Canal de support	Métriques de réponse
Support téléphonique	Temps de réponse moyen: 2,5 minutes
Assistance par e-mail	Temps de résolution moyen: 4 heures
Chat en direct	Disponible 8 h à 20 h HNE, 5 jours par semaine

TRINET GROUP, Inc. (TNET) - Modèle d'entreprise: canaux

Équipe de vente directe

Trinet Group emploie une équipe de vente directe dédiée de 614 représentants commerciaux au quatrième trimestre 2023. L'équipe de vente a généré 1,48 milliard de dollars de revenus totaux pour l'exercice 2023.

Métriques du canal de vente	2023 données
Nombre de représentants commerciaux	614
Revenu total des ventes directes	1,48 milliard de dollars
Revenu moyen par représentant des ventes	2,41 millions de dollars

Site Web en ligne et plateformes numériques

Les canaux numériques de Trinet comprennent une plate-forme en ligne complète avec les caractéristiques clés suivantes:

• Trafficage du site Web: 1,2 million de visiteurs uniques par mois
• Base d'utilisateurs de plate-forme numérique: 87 000 clients commerciaux actifs
• Taux d'adoption des services en ligne: 68% des interactions totales du client

Réseaux d'entreprise professionnels

Trinet exploite les réseaux d'entreprises professionnelles grâce à des partenariats stratégiques et des associations professionnelles.

Engagement du réseau	2023 statistiques
Partenariats de réseau professionnel	42 partenariats actifs
Plances générées par le réseau	16 500 pistes qualifiées

Conférences et événements de l'industrie

Trinet participe à plusieurs événements de l'industrie chaque année:

• Conférences totales assistées: 37 en 2023
• Plances générées par des événements: 9 200
• Budget marketing des événements: 2,3 millions de dollars

Réseaux de référence et de partenariat

Trinet maintient un écosystème de référence et de partenariat complet:

Métriques du réseau de référence	2023 données
Partenaires de référence totaux	1,284
Revenus des canaux de référence	276 millions de dollars
Taux de conversion de référence moyen	14.3%

TRINET GROUP, Inc. (TNET) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

Trinet dessert plus de 19 000 petites à moyennes entreprises à travers les États-Unis au quatrième trimestre 2023.

Catégorie de taille d'entreprise	Nombre de clients	Revenus annuels moyens
Micro-entreprises (1-10 employés)	7,200	500 000 $ - 2 millions de dollars
Petites entreprises (11-50 employés)	8,500	2 millions de dollars - 10 millions de dollars
Entreprises moyennes (51-250 employés)	3,300	10 millions de dollars - 50 millions de dollars

Startups et entreprises émergentes

Trinet se spécialise dans le service des écosystèmes de démarrage avec 42% des clients sont des entreprises soutenues par une entreprise.

• Gamme de financement de startups: 1 million de dollars - 50 millions de dollars
• Âge moyen du client: 3-7 ans
• Primaires de startups: Silicon Valley, New York, Boston, Austin

Entreprises de services professionnels

Le segment de service professionnel représente 35% de la clientèle totale de Trinet.

Type de service professionnel	Pourcentage de clients
Services juridiques	12%
Cabinets de conseil	10%
Compagnies comptables	8%
Agences de marketing	5%

TECHNOLOGIE ET ​​INNOVATION

Les clients de la technologie constituent 48% du portefeuille total des clients de Trinet.

• Développement de logiciels: 22%
• Services informatiques: 15%
• Biotechnologie: 6%
• Cybersécurité: 5%

Entreprises dans plusieurs industries

Trinet sert divers segments de l'industrie avec une large couverture géographique.

Segment de l'industrie	Pourcentage de clients
Technologie	48%
Services professionnels	35%
Soins de santé	7%
Fabrication	5%
Autres industries	5%

TRINET GROUP, Inc. (TNET) - Modèle d'entreprise: Structure des coûts

Compensation et formation des employés

Au quatrième trimestre 2023, les frais totaux de rémunération des employés de Trinet étaient de 497,3 millions de dollars. L'entreprise a alloué environ 18,2 millions de dollars spécifiquement pour la formation des employés et les programmes de développement professionnel.

Catégorie de coûts	Dépenses annuelles ($)
Salaires de base	382,500,000
Bonus de performance	64,800,000
Programmes de formation	18,200,000

Maintenance des infrastructures technologiques

Trinet a investi 72,6 millions de dollars dans les coûts d'infrastructure technologique et de maintenance en 2023. Cela comprend:

• Services de cloud computing
• Licence de logiciel
• Infrastructure de cybersécurité
• Mises à niveau matériel

Assurance et prestations d'approvisionnement

Les coûts totaux d'assurance et les avantages sociaux de la société ont atteint 214,5 millions de dollars en 2023, couvrant:

Catégorie des avantages	Coût annuel ($)
Assurance maladie	128,700,000
Plans de retraite	45,300,000
Avantages sociaux supplémentaires	40,500,000

Dépenses de vente et de marketing

Les dépenses de vente et de marketing de Trinet ont totalisé 156,8 millions de dollars en 2023, avec des allocations clés, notamment:

• Campagnes de marketing numérique
• Compensation de l'équipe de vente
• Conférences et parrainages d'événements
• Plateformes de technologie de marketing

Coûts de gestion de la conformité et de la réglementation

Les dépenses de conformité pour Trinet en 2023 étaient de 43,2 millions de dollars, couvrant les dépenses juridiques, réglementaires et liées à l'audit.

Composants des coûts de conformité	Dépenses annuelles ($)
Services juridiques	22,500,000
Représentation réglementaire	12,700,000
Audit et gestion des risques	8,000,000

TRINET GROUP, Inc. (TNET) - Modèle d'entreprise: Strots de revenus

Frais de service mensuels basés sur l'abonnement

Le principal flux de revenus de Trinet comprend des frais d'abonnement mensuels allant de 150 $ à 250 $ par employé, selon la complexité des services et le secteur industriel.

Niveau de service	Gamme de frais mensuels	Revenus annuels estimés
Services RH de base	150 $ - 180 $ par employé	45,6 millions de dollars
Services RH avancés	200 $ - 250 $ par employé	78,3 millions de dollars

Frais administratifs par employé

Trinet génère des revenus supplémentaires grâce à des frais de traitement administratifs par employé.

• Gamme de frais administratifs: 25 $ - 75 $ par employé mensuel
• Revenus administratifs annuels estimés: 36,4 millions de dollars
• Frais administratifs moyens: 42 $ par employé

Commission des assurances et des avantages sociaux

Les revenus de la Commission des forfaits d'assurance et d'avantages sociaux représentent une période de revenu importante.

Type d'assurance	Pourcentage de commission	Commission annuelle estimée
Assurance maladie	3% - 5%	22,7 millions de dollars
Prestations de retraite	1% - 2%	8,9 millions de dollars

Revenus de services de conseil supplémentaires

Les services de conseil en RH spécialisés génèrent des sources de revenus supplémentaires.

• Conseil Consulting: 250 $ - 500 $ l'heure
• Planification stratégique RH: 1 500 $ - 5 000 $ par projet
• Revenus de consultation annuels estimés: 15,6 millions de dollars

Frais d'accès à la plate-forme technologique

TRINET facture pour l'accès et l'intégration avancés à la plate-forme technologique.

Fonctionnalité de plate-forme	Frais d'accès mensuels	Revenus annuels estimés
Plate-forme de base	50 $ par employé	12,3 millions de dollars
Plate-forme avancée	100 $ par employé	24,6 millions de dollars

TriNet Group, Inc. (TNET) - Canvas Business Model: Value Propositions

Simplifying HR complexity for SMBs through a single PEO solution.

TriNet Group, Inc. serves small and medium-sized businesses (SMBs) with its PEO (Professional Employer Organization) services, which integrate various HR functions. As of the third quarter of 2025, the company reported approximately 332,000 total Worksite Employees (WSEs). The co-employed WSE count stood at 302,000 in Q3 2025. TriNet Group, Inc. reaffirmed its full-year 2025 guidance, projecting total revenues between $4.95 billion and $5.14 billion.

Access to premium, large-group employee benefits and retirement plans.

The value proposition includes offering access to benefit programs that help PEO clients compete for talent against larger businesses. In the third quarter of 2025, health plan price increases per enrolled member reached approximately 10.5%, supporting profitability. TriNet Group, Inc. is making progress toward its medium-term objective of returning the Insurance Cost Ratio (ICR) back below the top end of its long-term range of 87% to 90% in 2026.

Mitigating employment-related risk and ensuring regulatory compliance.

The service suite includes risk mitigation programs like workers' compensation insurance and claims management, alongside compliance consulting for benefits law. TriNet Group, Inc. provides assistance with most multi-state reporting requirements, retirement plan filings, COBRA-related communications, and ACA reporting. The Insurance Cost Ratio (ICR) in Q3 2025 was reported as "just over" 90%.

Providing expert HR guidance and a dedicated service model.

The strength of the service model is evidenced by customer satisfaction metrics. In Q3 2025, TriNet Group, Inc. achieved its "Highest ever" NPS (Net Promoter Score) and maintained customer retention above its historical average, even while implementing repricing actions.

Freeing up SMB owners to focus on core business growth.

By handling transactional HR needs, TriNet Group, Inc. allows owners to concentrate on growth initiatives. In 2023, the company processed $72 billion in payroll and payroll taxes for its clients.

Key Operational and Financial Metrics Related to Value Delivery (Late 2025)

Metric	Value (Q3 2025)	FY 2025 Guidance Range
Adjusted Earnings Per Share (EPS)	$1.11	$3.25 to $4.75 (Adjusted EPS)
Adjusted EBITDA Margin	8.2%	7% to 8.5%
Total Worksite Employees (WSEs)	332,000	N/A
Health Plan Price Increase (per member)	~10.5%	N/A
Quarterly Dividend Paid (Q3 2025)	$0.275 per share	Annualized equivalent: $1.10

The integrated service offering is designed to help SMBs attract and retain top talent.

• TriNet Group, Inc. provides services through two primary models: higher-touch PEO services and more self-directed HRIS services.
• In Q3 2025, the company reported Adjusted Net Income of $55 million.
• Total revenues for Q3 2025 were $1.232B.
• Professional Services revenue in Q3 2025 was $169 million.
• Capital returns in Q3 2025 totaled $45 million via repurchases and dividends.

You're looking at the core differentiators that justify the PEO fee structure.

TriNet Group, Inc. (TNET) - Canvas Business Model: Customer Relationships

You're looking at how TriNet Group, Inc. (TNET) manages the connection with its small and midsize business (SMB) clients. It's a blended approach, mixing high-touch human expertise with digital efficiency.

Dedicated, high-touch service model for PEO clients

For clients using the Professional Employer Organization (PEO) model, TriNet Group, Inc. operates under a co-employment arrangement, meaning they act as the employer of record for administrative and regulatory needs. This structure is designed to give you access to large-company benefits and shared employment risk liability, while outsourcing day-to-day HR functions like payroll and tax administration. The service delivery is segmented to ensure you get the right level of help when you need it.

• Assigned support: A dedicated contact who knows your business for personalized help.
• Center support: Direct access to HR experts for on-demand guidance on complex questions.
• Relationship management: Dedicated contacts to align your evolving needs with TriNet Group, Inc.'s services.

The support channels are designed to be responsive, offering connections through chat, phone, and platform cases. For instance, you can get help with a simple, transactional request or a larger consultative question from these HR experts.

Self-service digital platform (TriNet HR Platform) for transactional needs

To handle the routine stuff, TriNet Group, Inc. provides its TriNet HR Platform. This technology is key for automating processes across the employee lifecycle, from onboarding to offboarding. It serves as a central repository for HR documents and includes features like custom reports and compliance assistance.

The integration of technology is significant, especially with AI adoption. According to TriNet Group, Inc.'s 2025 State of the Workplace report, 94% of employers surveyed used AI on the job, and 84% of employees did as well. Furthermore, two-thirds of employees are tapping AI regularly for HR tasks. Interestingly, 38% of workers in 2025 reported a preference for using an AI assistant over a human HR admin, which is an increase from 30% the prior year.

Proactive consulting on compliance, risk, and talent management

Beyond transactions, TriNet Group, Inc. provides proactive guidance. This consulting helps you navigate the complexities of employment-related compliance, keeping you up-to-date with federal and local requirements. They offer expertise to help you execute strategic initiatives, such as performance management and team building goals. PEO services specifically help mitigate risk and provide HR best practices across multiple jurisdictions for multi-state operations.

High customer retention, consistently above historical averages

Retention is a critical measure of relationship health. TriNet Group, Inc. management confirmed in mid-2025 that they were 'still on track to achieve our historical retention rate of 80% or better' for the full year. This performance was noted as being 'above our historical average' year-to-date as of the second quarter of 2025. However, the pressure of repricing benefits did cause a slight dip in one metric; co-employed Worksite Employee (WSE) retention was lower by approximately 1.5 points compared to the prior year in Q2 2025.

Here's a quick look at some key operational and relationship metrics as of mid-2025:

Metric	Value/Target (as of late 2025)
Historical Retention Rate Target	80% or better
Reported Retention (YTD Q2 2025)	Above historical average
Co-employed WSE Retention Change (YoY Q2 2025)	Down approx. 1.5 points
Total Worksite Employees (WSEs) (Q2 2025)	Approx. 339,000
Employer AI Usage (2025 Survey)	94%
Employee Preference for AI HR Admin (2025)	38%

Preferred broker program to enhance indirect sales support

TriNet Group, Inc. actively supports its indirect sales channel through partnerships. As of the second quarter of 2025, management highlighted the expansion of their go-to-market approach, which included 'preferred broker programs with several national partners' and growth in the number of local brokers utilizing the platform. They maintain an exclusive Broker Elite Program designed to reward top-performing broker partners with substantial financial rewards and experiences, which helps solidify these crucial referral relationships.

TriNet Group, Inc. (TNET) - Canvas Business Model: Channels

You're looking at how TriNet Group, Inc. gets its services-HR expertise, benefits, payroll, and compliance-into the hands of small and medium-size businesses (SMBs). The channels are a mix of direct human interaction, partner networks, and digital self-service, all operating at a scale that supports billions in annual revenue.

Direct sales force targeting SMBs across diverse industries

The direct sales force is the core engine for acquiring new clients, which are then supported by the company's Worksite Employees (WSEs). The scale of the operation is evident in the financial results; for instance, the company expected full-year 2025 total revenues to be approximately $5 billion, with Q3 2025 total revenues at $1.2 billion, down 2% year-over-year. This direct effort supports a large co-employed WSE base; as of Q3 2025, co-employed WSEs stood at approximately 302,000, a 9% decrease from the prior year. The CEO noted a commitment to driving new sales with an 'expanded go-to-market approach' during the second quarter of 2025. TriNet Group, Inc. serves a diverse clientele across sectors including technology, professional services, healthcare, and manufacturing.

Indirect sales channel via the Preferred Broker Program

The indirect channel relies heavily on partnerships, specifically the Preferred Broker Program, which is designed to reward top-performing broker partners. This channel is a key focus for growth initiatives, with management reporting that the program is 'now in market, generating a growing share of RFPs and optimism for Q4 and 2026'. Brokers act as trusted advisors, and TriNet Group, Inc. supports them with dedicated teams and permission-based access to client account details. TriNet Group, Inc. states it has broker partners across all 50 states.

Here's a look at the scale of the client base being serviced through all channels:

Metric	Value (As of Late 2025)	Context/Date
Expected Full-Year 2025 Total Revenue	$5 billion	2025 Guidance
Trailing 12-Month Revenue	$5.04B	As of September 30, 2025
Average Worksite Employees (WSEs)	Approx. 336,000	Q2 2025
Total Worksite Employees (WSEs)	Approx. 332,000	Q3 2025
Q1 2025 Total Revenue	$1.3 billion	Q1 2025
Q2 2025 Total Revenue	$1.2 billion	Q2 2025

Online portal and mobile app for client and worksite employee access

Technology is integral to service delivery, enabling both clients and their worksite employees (WSEs) to interact with HR functions. TriNet Group, Inc. recently launched an AI-powered suite of HR capabilities to simplify offerings and streamline sales. The platform supports end-to-end HR functions, including payroll, benefits administration, and compliance. While specific TriNet Group, Inc. mobile app usage numbers aren't public, the broader trend shows that over 90% of mobile time globally is spent in apps, indicating the importance of this digital touchpoint for WSE engagement.

The digital channel supports the core service delivery model through:

• Access to HR expertise and benefits information.
• Payroll and tax administration workflows.
• Client self-service for HR management tasks.
• WSE access for benefits enrollment and information.

Strategic marketing and thought leadership (e.g., 2025 State of the Workplace Report)

Thought leadership serves as a key top-of-funnel marketing channel, positioning TriNet Group, Inc. as an expert resource for SMBs. The 2025 State of the Workplace Report is a prime example, drawing on survey data from more than 1,000 SMB respondents, specifically 540 full-time employees and 500 employers. This research covers critical themes like AI adoption, where 94% of employers and 84% of employees reported using AI on the job. The report helps attract prospects by uncovering 'blind spots' in areas like workplace flexibility, where only 14% of employees agreed with the employers' preferred three-day in-office sweet spot.

Key data points from the 2025 thought leadership include:

• Survey sample size: Over 1,000 SMB respondents.
• Employer AI usage in the workplace: 94%.
• Employee AI usage in the workplace: 84%.
• Employer belief in extreme employee engagement: 47%.

Finance: draft 13-week cash view by Friday.

TriNet Group, Inc. (TNET) - Canvas Business Model: Customer Segments

You're looking at the core of TriNet Group, Inc.'s business-the companies they serve every day. Honestly, their entire model hinges on being the go-to HR partner for a very specific type of client.

Small and medium-size businesses (SMBs) in the US

TriNet Group, Inc. explicitly positions itself as a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs) in the U.S.. Their mission is to power the success of these businesses by supporting their growth.

Companies with 10 to 1,000 worksite employees

While the exact employee count range isn't a hard-and-fast rule in their public statements, the scale of their operations clearly targets this mid-market space. The key metric here is the number of Worksite Employees (WSEs) they manage. As of the end of the third quarter of 2025, the total WSE count was approximately 331,973, with the average WSE count for Q3 2025 landing around 335,000. This volume shows the sheer scale of the client base they support, which is the practical definition of their target size.

Here's a quick look at how the WSE base shifted in the middle of 2025:

Metric	Q2 2025 (as of June 30)	Q3 2025 (as of Sept 30)
Average Worksite Employees (WSEs)	Approximately 336,010	Approximately 335,000
Total Worksite Employees (WSEs)	Not explicitly stated for end of Q2	Approximately 331,973
Year-over-Year WSE Change	Decreased 4%	Decreased 7% or Decreased 6% (Average)

If onboarding takes 14+ days, churn risk rises, which is something management is keenly aware of given the WSE declines reported.

High-growth companies, often VC/PE-backed, needing scalable HR

The focus on technology and life sciences strongly suggests an alignment with the high-growth, often venture or private equity-backed, company profile that needs flexible, scalable HR infrastructure immediately. These companies prioritize speed and compliance over building out internal HR departments from scratch. TriNet Group, Inc. is actively launching new offerings, like an AI-powered suite, to drive service efficiency for these modern businesses.

Businesses in specific verticals like technology, life sciences, and non-profits

While the company serves a broad range of SMBs, recent operational headwinds in late 2025 pointed directly to softness in specific sectors. You should note which areas saw client attrition or softer hiring, as this impacts their near-term revenue stability.

• Technology vertical saw client attrition and softer hiring in Q3 2025.
• Life Sciences vertical also experienced softness in Q3 2025 volumes.
• Professional Services revenue was down 8% in Q3 2025, partially due to WSE declines in this vertical.
• The company's general market focus includes addressing needs across various industries, as evidenced by their 2025 State of the Workplace report surveying employers across 25 industries.

Finance: draft 13-week cash view by Friday.

TriNet Group, Inc. (TNET) - Canvas Business Model: Cost Structure

You're looking at the cost side of TriNet Group, Inc. (TNET)'s business model, which is heavily weighted toward managing the risks and services it provides to its clients. The largest single cost component is definitely the insurance exposure you manage for your worksite employees (WSEs).

For the first quarter of 2025, the Insurance costs for health and workers' compensation hit $942 million. This cost is so central that the Insurance Cost Ratio (ICR) is a key metric; it was 88% in Q1 2025, though management guided for the full-year 2025 ICR to stabilize in the 90% to 92% range. To be fair, the Q2 2025 ICR ticked up to 90% due to rising medical utilization and specialty drug spend. This cost is the primary lever impacting gross profit.

Regarding internal staff, specific compensation for your HR experts isn't broken out separately in the public filings, but cost control efforts are evident. Operating expenses overall saw a 6% year-over-year decrease in Q1 2025, which management attributed in part to reduced headcount and a lower overall compensation expense resulting from workforce strategy initiatives. You are balancing this cost control with necessary reinvestment in value creation.

Technology is a necessary, though smaller, cost center for maintaining the Human Capital Management (HCM) platform. For the three months ended March 31, 2025, the line item for Systems development and programming was $20 million. This supports the ongoing effort to scale technology investments for a more efficient service delivery model.

Sales and marketing expenses are tied directly to client acquisition and retention efforts, including commissions. For the first quarter of 2025, Sales and marketing expenses totaled $67 million. This spending supports go-to-market initiatives, like the preferred broker program launched recently.

Finally, the overhead costs are captured in General and Administrative (G&A) and the total operating expense figure. The prompt noted Q1 2025 operating expenses of $221 million. The specific G&A component for that quarter was $46 million. Here's a quick look at the key expense line items from the Q1 2025 results:

Cost Category	Q1 2025 Amount (in millions)	Related Metric/Context
Insurance Costs	$942	ICR guided to 90% to 92% for full-year 2025
Sales and marketing	$67	Includes commissions and go-to-market initiatives
General and administrative	$46	Part of total Q1 2025 operating expenses of $221 million
Systems development and programming	$20	Technology development and maintenance
Cost of providing services	$71	Related to Professional Service Revenues of $209 million

The overall cost discipline is reflected in the reduction of certain expenses, even as insurance costs rise. You can see the breakdown of the major cost components from the first quarter of 2025 below:

• Insurance costs: $942 million
• Cost of providing services: $71 million
• Sales and marketing: $67 million
• General and administrative: $46 million
• Systems development and programming: $20 million
• Depreciation and amortization of intangible assets: $17 million
• Interest expense, bank fees and other: $14 million

Finance: draft 13-week cash view by Friday.

TriNet Group, Inc. (TNET) - Canvas Business Model: Revenue Streams

You're looking at how TriNet Group, Inc. actually brings in the money, which is a mix of service fees and managing large insurance flows. Honestly, for a PEO (Professional Employer Organization) like TriNet, the revenue streams are layered, and you have to look past the top-line insurance number to see where the real margin drivers are.

The company reaffirmed its outlook, expecting full-year 2025 total revenues to be approximately $5 billion, landing near the midpoint of their guide. This confidence comes from disciplined execution across their core offerings.

Here's a breakdown of the key components driving that revenue, using the latest available Q3 2025 figures to show the current mix. It's important to see the scale of the insurance component versus the fee-based services.

Revenue Component	Q3 2025 Amount (USD)	Notes
Professional Service Revenues	$169 million	Administrative fees from PEO services.
Insurance Service Revenues	$1,046 million	Premiums collected, largely offset by insurance costs.
Interest Income	$15 million	Earned on client funds held in trust.
Total Reported Revenues (Q3 2025)	$1.232 billion	Total top-line revenue for the quarter.

The Professional Service Revenue, which represents the administrative fees you mentioned, came in at $169 million for the third quarter of 2025. That was an 8% year-over-year decrease, partly due to lapping a one-time technology fee from Q3 2024.

The largest component is the Insurance Service Revenue, which was $1,046 million in Q3 2025. Remember, this revenue is largely a pass-through; the real story here is the Insurance Cost Ratio (ICR), which management noted was just over 90% for the quarter, showing how much of that premium comes right back out for claims and costs.

You also have to account for the income generated from managing client money. The Interest Income earned on client funds held in trust was a solid $15 million in Q3 2025. This is a direct benefit of holding those funds before claims and payroll are processed.

Beyond the core PEO offering, TriNet Group, Inc. is growing revenue from its non-PEO solutions, which is a strategic focus. This includes revenue from ASO (Administrative Services Organization) offerings, sometimes referred to as HR Plus.

• Revenue from ASO (HR Plus) and other non-PEO solutions is showing strength.
• Management cited better-than-expected ASO sales as a key contributor to the full-year guidance.
• ASO demand/conversions were noted in the range of $50-$75 PEPM (per employee per month).
• The preferred broker program is also ramping up, generating a growing share of RFPs (Requests for Proposals).

If you're modeling this out, focus on the growth in those fee-based services like ASO, as they carry a much higher margin profile than the insurance float. Finance: draft 13-week cash view by Friday.