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TriNet Continues Record Growth During Third Quarter of 2008
SAN LEANDRO, CA (November 13, 2008) — TriNet, a leading provider of human resources outsourcing and consulting services to small and medium-sized companies nationwide, announced today that it continued to experience solid momentum and record growth during the third quarter with a 21% increase in revenue over the same time period in 2007. TriNet also grew its worksite employee base nearly 35% when compared to the same period last year. Additionally, the company is well poised to achieve $100 million in net revenue for the first time in its twenty-year history.
“Considering the current downturn in the economy and its potential effect on small business, TriNet’s customers continue to see the value in using HR outsourcing to help them remain laser-focused on their core competencies,” said Burton M. Goldfield, President & CEO of TriNet. “As our customers make crucial business decisions that allow them to achieve their long-term goals, we are committed to partnering with them along the way to maximize their ability to attract and retain talent, amplify their human capital strengths, and ensure they are lean and efficient in regards to benefits and HR administration.”
During the third quarter, TriNet increased its customer base with the addition of 133 new customers, reinforcing its position as an emerging HR outsourcing industry leader. TriNet’s customers experienced solid growth as well, growing their own employee base 26% over the same period in 2007.
Other key milestones for TriNet in Q3 2008 included:
- Launching TriNet HR Minute™, a free Podcast series geared toward executives at small and medium-sized businesses looking for quick insights and highlights from HR experts.
- Successfully expanding its growing market presence with the additional of two new regional office locations in Houston, Texas and Parsippany, New Jersey.
- Receiving multiple fast-growth awards, including placement on the Inc. 5000 list, ranking third on Staffing Industry Analysts’ annual list of the 25 largest U.S.-based Professional Employer Organizations (PEOs) in America, and recognition as one of the fastest growing privately-held companies in both the San Francisco Business Times (#43) and East Bay Business Times (#13) annual lists.
About TriNet Group, Inc.
Founded in 1988 in the San Francisco Bay Area, TriNet provides strategic, cost-effective payroll, benefits, and HR outsourcing services to companies throughout the United States and Canada. TriNet specializes in helping small and medium-sized businesses reach their corporate goals and become destinations for top talent, enabling them to compete successfully with larger, more established organizations. TriNet’s comprehensive offerings include HR administration, online employee benefits administration and support, employer risk management, payroll processing, tax compliance, workers compensation, group health and welfare products, and strategic human capital consulting services. For more information about TriNet, visit http://www.trinet.com.