TriNet Quarterly Figures Show Small Businesses are Hiring
After four quarters of workforce reductions, entrepreneurs closed 2009 with a return to growth.
SAN LEANDRO, Calif. (February 10, 2010) – TriNet, the country’s second-largest provider of human resources outsourcing solutions to small businesses, today announced figures from its fourth quarter, which show for the first time since third quarter 2008, small businesses are hiring more employees than they’re letting go.
“We were seeing a significant amount of terminations within our client base the last four quarters, but now we’re in the positive again for the first time since Q308,” said Burton M. Goldfield, TriNet’s president and CEO. “It’s a clear indication that small businesses are heading toward economic recovery.”
TriNet added more than 100 small business clients during the quarter, representing more than 2,600 employees. The sustained demand for TriNet’s HR outsourcing solutions pushed annual net revenues past $160 million for fiscal year 2009, a significant increase from 2008’s record-setting net revenue figure of $100 million.
“TriNet’s continued growth highlights the sustained demand for HR outsourcing solutions and validates our long-term strategy,” Goldfield added. “The increase in sales activity in our focused target markets—which have been broadened since the Gevity acquisition—shows that these industries are focused on hiring the best employees.”
TriNet has also invested more than $12 million toward R&D and capital expenditures since the acquisition of Gevity closed last June, a testament to the company’s continued dedication toward state-of-the-art technology so that its computing and processing platforms enable the company to remain well ahead of the competition.
TriNet serves as a trusted HR partner to small businesses, to help contain costs, minimize employer-related risks, relieve administrative burden, and keep focus on core business functions. From routine employee benefits service and payroll processing to high-level human capital consulting, TriNet's PEO expertise is integrated with every facet of a client’s organization. Its solutions specialize in serving fast-moving companies in fields such as technology and professional services, who recognize that top-quality employees are the most critical competitive asset. For more information, please visit http://www.trinet.com.
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