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The HR Bundle that Supports Innovation
The TriNet Life Sciences bundled HR solution answers the unique HR challenges faced by SMBs in the life sciences industry including biotech, pharmaceuticals and medical device companies. These companies compete with large pharmaceutical organizations and research universities for top talent and need to navigate an increasingly complex set of HR-related federal and state regulations. TriNet Life Sciences reduces the time businesses spend managing HR and administrative issues while providing enterprise-grade cloud capabilities. This enables entrepreneurs and management to focus on what’s important—developing scientific breakthroughs, commercializing products and building a team that delivers on this important pursuit.
- Payroll Secure, seamless payroll preparation, tax reporting and remittances
- Benefits Wide selection of benefit plans designed to attract and retain key talent
- Risk & Compliance Compliance guidance expertise with all federal and state employment-related laws and regulations
- HR Team Four-tiered team of HR professionals, including a support center
- HR Cloud A secure HR platform including apps for hiring, expense management, learning management and performance management, making HR administration simple
TriNet Life Sciences facilitates and administers all payroll requirements, including direct deposit, payroll and employment tax, PTO tracking, W-2 preparation and delivery, and provides access to comprehensive reporting capabilities. Securely transfer payroll journals into QuickBooks, and employees can also import their W-2s directly into TurboTax.
The TriNet Life Sciences benefits are designed to attract and retain in-demand doctors, scientists and researchers while containing HR costs. TriNet Life Sciences clients can choose from a wide range of plans from major national and regional providers.
Health care plans from 10 providers:
Dental plans with 4 providers:
|Health Care Flexible
|Administered by TriNet|
|Dependent Day Care Flexible Spending Account||Administered by TriNet|
|Expatriate Medical Plan||CIGNA Global Health Benefits|
|Medical Benefits Abroad||CIGNA Global Health Benefits|
|Health Savings Account||Administered by TriNet carrier banks|
|Short-term Disability||8 plans with Aetna|
|Long-term Disability||8 plans with Aetna|
|Life Insurance||6 plans with MetLife|
|Executive Disability Insurance||MetLife|
|Supplemental Life/AD&D Insurance||17 plans with MetLife|
|401(k) Multiple Employer Plan||Transamerica Retirement Solutions|
|Voluntary Benefits||Aflac and MetLife|
RISK & COMPLIANCE
TriNet Life Sciences reduces employer-related risks by assuming many of the responsibilities of being an employer, such as payroll tax deposits and reporting, unemployment tax reporting, workers’ compensation administration, custom employment handbook creation and Employment Practices Liability Insurance. All matters are handled with knowledge and experience in all federal and state employment laws, including the Affordable Care Act. The plans and policies are designed to cover life sciences specific workplaces, including laboratories and medical device manufacturing sites. Clients can have peace of mind knowing that they are not inadvertently violating relevant employment-related laws.
TriNet Life Sciences provides a four-tiered team of HR experts, each tier a clear and distinct channel dedicated to handling strategic, tactical or operational HR issues.
- Human Capital Director: primary point of contact for senior executives, offering strategic HR guidance
- Human Capital Consultant: day-to-day contact for a wide range of HR issues, including employment-related laws, HR policies and handling of sensitive employee matters
- Client Services Associate: manages the set-up of payroll, leave policies, benefits, tax deductions, creating HR reports and how to navigate the TriNet Life Sciences portal
- Solution Center: staffed by HR professionals to answer employees’ HR-related questions about paychecks, leaves, employee benefits, workers’ compensation, unemployment benefits, COBRA, etc.
The TriNet Life Sciences cloud platform provides a secure environment for managing HR. With simple navigation and task management, the platform eliminates paperwork and manual effort for all critical HR processes. It offers executives, managers and employees immediate access to the tools they need, including the TriNet mobile app.
TriNet Life Sciences offers TriNet Reports, an enterprise-class analytic tool that unlocks the potential of your business data. Sync salary and wage totals, taxes, health insurance and other benefit expenses with QuickBooks, and multi-reporting options enable customized data sorting. You gain actionable insights to make smart business decisions.
What’s more, TriNet Life Sciences includes HR productivity applications:
- Performance management goal tracking and streamlined review process
- Applicant tracking manages the hiring process, including job postings and a dedicated careers page
- Expense management simplifies the entire expense reimbursement and reporting process from your smart phone, tablet or computer
- Learning management provides an online training curriculum specific to life sciences companies
“PEOs really do provide an excellent opportunity for a rapidly-growing company to offer employees a wider variety of health plans at different price points and different plan designs.”
Jeanne Howarth, Senior Director, Human Resources | MedAvante
Read Case Study
Misunderstood Resources of Early Stage Biotechnology Companies: Three Integrated Components
In-depth insight and guidance on human capital resource types that biotech companies often overlook. Written by serial entrepreneur and scientist Dr. Craig Shimasaki, a vertical champion for TriNet Life Sciences. Helps life sciences/biotech companies make better use of the brainpower they have access to, including employees, external people and partner organizations.
Read White Paper