NEXT Financial Group

Karen Eyster, Director of Strategic Development

Challenge

They needed to pare down costs.

Solution

TriNet has the most extensive financial experience and also offers numerous extra strategic services.

TriNet came on-site and explained tricky areas, such as social security options, PTO, and benefits open enrollment—they’ve constantly been an active resource partner.

TriNet Helps NEXT Financial Improve People Practices and Cost Containment

No one needs to tell the executives at NEXT Financial Group the value of outsourcing HR— the financial services firm has contracted out those activities since 1999. But it wasn’t until the stock market crashed in 2008, and assets dropped by 40 percent, that the company began to look for another Professional Employer Organization (PEO)—one that was capable of comprehending the intricacies of the economic world. When NEXT Financial Group executives discovered TriNet, they knew they had found a PEO that could exceed their expectations. 

Generating Ideas to Meet the Challenges Brought on by the 2008 Wall Street Crash 

In the aftermath of the Wall Street turmoil, many companies were conducting massive layoffs, but the executive team at NEXT Financial, a Houston, Texas-based company that provides brokerage services to investors, decided to make every attempt possible to circumvent that option. “We were struggling,” says Karen Eyster, Director of Strategic Development “but we asked everyone in the company to help generate ideas to remain solvent.” One proposal suggested that NEXT reach out to existing vendors with requests to update contracts and pare down costs, including reviewing their current Human Resources (HR) outsourcing strategy. 

Benefitting From TriNet’s Experience in the Financial Sector 

Eyster and team compared HR outsourcing providers and found that TriNet has the most extensive financial experience and also offered numerous extra strategic services. These services equip customers with an unparalleled ability to acquire the best employees, align workforce goals with high-level company objectives, drive new levels of performance and productivity, and develop and mentor their future leaders. 

The transition of NEXT to TriNet was seamless. “TriNet was fantastic in helping us through the migration,” says Eyster, who adds that, “TriNet came on-site and explained tricky areas, such as social security options, PTO and benefits open enrollment—they’ve constantly been an active resource partner.”