4 Reasons We Love Small Businesses (and You Should too)!

    Posted by Kim Runyen on May 4th, 2016 in Small Business News & Advice

    May 1-7, TriNet is celebrating Small Business Week on the TriNet blog in order to honor those we serve – small business owners and entrepreneurs.

    TriNet works with more than 12,000 small to midsize business (SMB) clients around the nation. Because of this, we have a front-row seat to the amazing impact SMBs have and how their work touches all our lives in numerous ways. Allow us to give you four reasons why we stand in awe of our clients and other small businesses and why we celebrate small businesses – not just this week but every day.

    1) Small businesses are changing the world
    TriNet clients come from all walks of life and a broad range of industries. What they all have in common is that they are constantly doing the work of improving our lives. As you read this, our life sciences clients are researching cures for cancer, AIDS and rare diseases, revolutionizing prostheses, and making it possible for those born with congenital defects to have longer, healthier lives. Our not-for-profit clients are working to bring vital services to the less fortunate and fighting to help makes lives around the planet better. Our technology clients are reinventing the way we work and play. And our hospitality clients are doing wonderful things to enrich our lives. Watching all these amazing businesses in action, one thing is clear to us: small businesses are where innovation begins.

    2) Small businesses improve the community
    According to the U.S. Small Business Administration, there are 28 million small businesses in the U.S., accounting for 54 percent of all sales, 55 percent of all jobs and up to 50 percent of all commercial space. And you know what? This is a trend that is growing and has been for decades – rapidly so.

    This means that small businesses are a force to be reckoned with. They have an enormous impact on our national economy. But small businesses also fuel your local community. This is because most small business owners operate very close to where they live. The money you spend with a local business will likely be reinvested in other goods and services right in your town.

    3) Small businesses are the next big businesses
    What do Apple, Microsoft, Amazon, Disney, Facebook, Google, Mattel, Hewlett-Packard, Harley Davidson, Whole Foods, Walmart and dozens of other household names have in common? For one, you probably interact with their products and services nearly every day. However, they all also came from very humble beginnings – think garages, dorm rooms, parents’ basements and tiny little store fronts. But they worked hard, earned our trust in their respective brands and grew to be the power houses so many of us couldn’t imagine our lives without.

    Without small businesses, technology, communication, work, entertainment, shopping, childhood and even our dinner would be radically different than it is today.

    4) Small business owners are an inspiration
    For every geeky college kid with a crazy invention, every overworked single parent who couldn’t imagine their dream coming true and every person who hates their day job but thinks their business idea is silly, there are numerous crazy inventions, far-fetched dreams and silly ideas that have been parlayed into wildly successful businesses.

    The current small business owners who are going out there every day and making it happen are contributing to the nation’s thriving small business culture. When the small business culture is strong, it encourages more and more innovators, inventors, artists, scientists, leaders and risk-takers to make the leap to starting their own business.

    Part of the power of small business owners is that they inspire other small business owners to follow their dreams. (tweet this).

    That’s why it’s important for current and future small business owners to take advantage of opportunities to connect with other successful business owners. TriNet Inspire is one such opportunity. This free, half-day event is coming to Los Angeles on May 17. If you’re in the area and are looking to learn more about what it takes to succeed, we’d love to meet you there!

    TriNet Inspire Los Angeles

    This communication is for informational purposes only; it is not legal, tax or accounting advice; and is not an offer to sell, buy or procure insurance.

    This post may contain hyperlinks to websites operated by parties other than TriNet. Such hyperlinks are provided for reference only. TriNet does not control such web sites and is not responsible for their content. Inclusion of such hyperlinks on TriNet.com does not necessarily imply any endorsement of the material on such websites or association with their operators.

    TriNet Celebrates Small Business Week

    Posted by Natalie Fix on May 2nd, 2016 in Small Business News & Advice

    May 1-7, TriNet is celebrating Small Business Week on the TriNet blog in order to honor those we serve – small business owners and entrepreneurs.

    Small Business Week recognizes the critical contributions of America’s entrepreneurs and small business owners. More than half of Americans either own or work for a small business and these businesses create about two out of every three new jobs in the U.S. each year. Many communities depend on the strength of their local businesses to grow and thrive. Continue reading this entry →

    3 Simple Ways Businesses Can Make Feedback a Two-Way Street

    Posted by Keith Ferrazzi on April 28th, 2016 in Management Practices

    Note: This post is a sampling of what the author will be sharing in his talk on “Relationships for Leadership Success and High-Performance Teams” at TriNet Inspire in Los Angeles on May 17.

    Although we can all recognize the importance of giving feedback to our team, have you ever considered the importance of getting their feedback? It’s valuable. It’s important. It’s how the organization stays current. So why don’t you ask your team for feedback? Because it’s hard, that’s why.

    Hearing criticism, no matter how valid, is difficult. Since so much of our self-perception is tied up in our careers, giving and receiving feedback doesn’t just involve addressing performance – it can cut straight to the heart of who we are. Once someone reaches a certain level of expertise, it’s easy to fall into the trap of feeling past the usefulness of feedback, having received so much of it already.

    But for your organization to grow, it’s just as important to receive it as it is to give it. At my company, Ferrazzi Greenlight, we have a few practices that take feedback from dreaded to welcomed.

    1) Make feedback a continuous loop
    For feedback to be effective, it needs to occur in real time. Annual reviews separate the feedback from the actions and can often be forgotten when they’re not tethered to something tangible. For you and your team to get the most out of your feedback, you need to address things as they come up so the “cause and effect” can be discussed while it’s still fresh in everyone’s mind. Continue reading this entry →

    Two Legislative Trends to Watch as New York Passes Historic Minimum Wage Increases and Paid Family Leave Laws

    Posted by Steve Edney on April 26th, 2016 in Legal News & Compliance

    My colleague Jon Sider recently wrote about California becoming
    the first state to raise its minimum wage to $15 per hour. These historic changes to minimum wage laws are also continuing in New York City, where new paid family leave laws have also been implemented.

    How New York employers can prepare for minimum wage increases
    On April 5, 2016, New York Governor Andrew Cuomo signed a bill raising New York’s minimum wage to $15 per hour as part of the 2016-2017 state budget. Governor Cuomo stated that this would benefit over 2 million New Yorkers. New York joins more than a dozen states to date that have signed bills to increase their minimum wage. This new bill means New York state’s minimum wage will inevitably increase by 67 percent over the current $9 per hour minimum wage.

    The New York minimum wage increase will be phased in. The way it’s implemented will depend on the number of employees at each company and the company location: Continue reading this entry →

    7 Traits of Highly Effective Company Cultures

    Posted by Natalie Fix on April 21st, 2016 in Workplace Culture

    News headlines frequently bring up the importance of company culture, employee satisfaction and the perks that employees may or may not be receiving. Developing and maintaining a company culture that helps reach your business goals but also helps engage and retain employees can be tough but it’s important (and doable).

    What is culture, exactly?
    Culture is the identity and personality of your organization. It consists of the shared thoughts, assumptions, behaviors and values of your employees and stakeholders. Your policies and procedures (or sometimes the lack thereof) also help drive and define your organization’s culture. And, of course, the behavior of leaders in your organization also drives your organization’s culture.

    An organization’s culture may be one of its strongest assets or it can be one of its biggest liabilities. The impact goes far beyond your people; it has significant influence on the achievement of your business goals. Indeed, culture drives or impedes the success of your company. Continue reading this entry →