Managing the intricacies of payroll and administrative HR tasks were time intensive for a rapidly growing Silicon Valley firm.
TriNet’s streamlined payroll solution and expertise on compliance issues increase Hiretual’s bandwidth to execute on strategic business goals.
Like many technology start-ups, Hiretual’s journey galvanized after its cofounders found themselves frustrated by archaic and time-consuming processes. While working for a large consumer electronics conglomerate as hiring managers, Steven Jiang and Xinwen Zhang struggled with growing their team in a timely manner due to inefficiencies in the talent acquisition process. They quickly found that their recruiting pain points were common to companies of all sizes. In 2015, they launched Hiretual and pioneered the world’s first artificial intelligence sourcing technology and talent recruitment platform, better known as “every recruiter’s best friend.”
Their AI-powered system builds a candidate sourcing base from over 40 web platforms and screens hundreds of thousands of professional profiles in seconds, allowing growing companies to engage top talent faster. The ability to source far beyond LinkedIn and Indeed gives recruiters access to a significantly larger talent pool, further enabling them to make better-informed hiring decisions and reduce time and costs throughout the recruiting cycle.
Hiretual includes features to quickly acquire contact information and effectively engage with potential talent through custom email campaigns. Unlike many of their competitors, Hiretual’s centralized platform can integrate with their customers’ applicant tracking and email systems, eliminating the hassle of jumping between different platforms.
As the company expanded, Walter Zhang, In-House Legal Counsel at Hiretual, acknowledged that handling HR functions was manual and painful—and often managed in spreadsheets. To compound the problem, they also worked with separate vendors for payroll, healthcare benefits, 401(k) plan administration and others.
By the end of 2018, they hired 30 people, tripling the size of the team, and embarked on a trajectory to experience 300% year-over-year growth. Scaling this quickly in a single year prompted Walter and Hiretual leadership to acknowledge that “we could already foresee problems with people management and everything related to HR functions, so we wanted to bring an HR solution on board to help us.” After assessing a variety of HR information systems and professional employer organizations (PEOs), they decided on TriNet at the recommendation of a surprising source – Hiretual employees who had previous TriNet experience.
For Walter, accurate and punctual payroll is a priority. The narrow offering of Hiretual’s previous online payroll vendor had limited automation features and lacked the ability to integrate with other systems. TriNet’s payroll solution handles administrative and compliance requirements while helping to simplify payroll taxes. As a result of COVID-19 legislation, the team of HR and payroll experts continuously provide information to Walter on how to comply with new wage and hour laws and additional paid leave. They also help transition employees out of the company with final compensation and other termination-related tasks.
Hiretual needed a better way of reimbursing employees for business expenses—physically storing expense reports and receipts and manual data entry was an arduous process for the accounting team. With the TriNet Expense app, employees upload pictures of their receipts and submit expense reports on-the-go, while leadership reviews, approves or rejects them through an automated online approval process. Expenses are seamlessly transferred to payroll so employees can be quickly reimbursed in the upcoming pay cycle.
Adopting the TriNet 401(k) plan offering frees Walter up from manually exporting 401(k) reports and uploading into a disparate payroll system. TriNet now handles the automated contribution and data submission functions. “By using TriNet, we save a lot of time and effort on payroll and managing the employee relationship,” said Walter. “Everything is streamlined.”
Walter acknowledges that the most valuable aspect of working with TriNet is the amount of time it has saved him. “You don’t need to search for resources on HR solutions or best practices,” said Walter. He no longer has to scrutinize California’s complex employment regulations and worry about whether Hiretual is compliant. HR consultants help Hiretual stay ahead of these regulations as well as employee relation issues.
Depending on the TriNet Solution Center as their front line of employee support, Walter no longer spends a lot of time addressing employees’ questions on things like benefits, tax deductions, PTO and 401(k) plan contributions, among others. “There are a lot of tiny tasks we can avoid by using TriNet,” said Walter.
“Sometimes people are injured in the office and we have to process workers’ compensation. TriNet helps us stay compliant with everything related to HR.” The workers’ comp component of TriNet’s comprehensive HR solution features market-leading coverage, pay-as-you-go billing, expedited claims handling and assistance with fraud prevention.
With TriNet, Hiretual can offer a range of attractive benefit packages, an appealing upgrade from the one plan they previously offered. “An employee can comfortably pick whatever plan that fits their best interests and financial situation,” said Walter. “That’s quite good for employee retention because health insurance is very important to them.”
Even though the COVID-19 pandemic has had a detrimental effect on recruiting and hiring, Hiretual anticipates continued growth. “Once businesses reopen, there will be a comeback for the recruiting industry. I think Hiretual will be one of the most desired tools for recruiters and HR professionals to help rebuild their teams,” said Walter. They plan to hire at least 20 more employees this year to enhance their recruiting solution and support the hundreds of companies who currently use their platform. TriNet will help ensure that Hiretual’s HR continues to scale with their rapid growth.