Module 1: Fundamentals

ICP

-5-150 WS employees

-within targeted NAICS code

-multi-state

-desire for high quality benefits

-ecosystem referral

-scaling or growing

-facing talent shortages or hiring challenges

-fragmented or manual process

-secured funding or generating revenue

5-150 WSE

Required # of WSE

Coemployment

The contractual allocation and sharing of certain employer obligations.

The company retains total control over daily operations and management, while the PEO acts as the administrative employer.

Two companies with separate and independent employment relationships

Client remains the sole employer for all business purposes

TriNet becomes an independent employer for purposes of its services, which include: Benefits, HR, Workers comp, Payroll

CSA

The contract between the entities in reference to coemployment

TriNet Do’s

-Co-employment agreement

-Helps with risk mitigation

-Helps with compliance

-Assumes certain responsibilities for processes such as payroll, tax filing, and benefits

trinet donts

-Shared employment relationship (we don't make the decisions)

-Joint employment relationship

-Transfer of liability

-Taking on HR risk

-Offload compliance

-Responsible for all payroll, payroll compliance

TriNet Services Requisition Form (TSR)

The agreement between TriNet and the customer, outlining that we do not take on ALL employer duties and are not responsible for bad events.

We do take responsibility for providing our HR Services, benefit, payroll, EPLI

All other responsibilities remain with the customer

How legal helps

prospect escalations, customer escalations, legal claims, content review, legal docs, compliance assistance

employer related risk and liabilities

Employment claims (ex: discrimination/ harassment allegations)

Expensive (lawsuits and legal fees)

Cash Flow

Safety Silo (cybersecurity

Compliance and reporting

217000

average reported EPL loss

Employment practices liability

EPL

health maintenance organization

- Requires members to choose a Primary Care Physician (PCP) and get referrals to see specialists. They typically have lower premiums and out-of-pocket costs.

-Focus on preventative care and cost control

-Best for employers looking for a cost effective plan

preferred provider organization

-Plan with higher flexibility that allows members to see any providers with cost savings for those that are in-network

-No referrals needed if in-network, needed for out-of-network

-Higher flexibility and access

-Higher costs and premiums

exclusive provider organization

-Hybrid plan that offers in-network care only, but no referrals are needed

-Good balance between cost savings and flexibility

-No out of network coverage, but lower premiums than PPO's

high deductible health plan

-Plan with high deductibles and lower premiums that is often paired with HAS

-Designed to encourage customers to make cost-conscious decisions

-Tax advantages with HAS but higher upfront costs

point of service

-Hybrid plan combining HMO and PPO

-Referrals are required for specialists, but out of network care is allowed

-PCP required

-Usually done through Aetna

-Can be complex to navigate

accountable care organization

-A network of providers that coordinate care to improve quality and reduce costs

-Flexible care and structure options

-Availability can be limited

deductible

 Certain amount the enrollee must pay before the insurance plan starts paying its share of health costs for certain services

embedded deductible

allows each individual in a family health plan to meet their own deductible before the family deductible is reached, enabling coverage for that person even if the total family deductible hasn’t been met.

non embedded deductible

Total family deductible must be met before the plan begins to pay for any benefits

deductible carryover

 Any portion of the deductible met by the employee during the last three months of the calendar year that will rollover into the new year

claims prevention

 Guidance to avoid any claims from occurring on the first place

reference library

web-based training modules organized by state to be tailored for the local and state compliance laws that effect a business. Employees can look up at their leisure what they want to discover

claims coverage

Streamlined claims reporting, coordination of any carrier coverage issues, access to a legal hotline for employment law questions

loss mitigation

Manage case progression and resolution, discovery and settlement assistance, available to answer any questions

4 Pillars of employment practices RM

claims prevention, reference library, claims coverage, loss mitigation

risk mitigation offerings

EPLI coverage with claims management and support

Compliance expertise for applicable fed/state laws

Anti-discrimination and sexual harassment training

Unemployment insurance claim administration

Workplace safety best practices

Reference library with compliance updates, templates and more

Legal hotline for general employment law questions

core HR support (RM)

Employee onboarding and orientation

WSE handbooks

Supporting hiring and terminations

Time-off plans and leave management (maternity, bonding, LOA)

compliance (RM)

Best practices

Access to experts

Payroll and benefits compliance

Guidance on changing regulations

SHRM Certified, competitors don't always offer this

employee support (RM)

24/7 employee chat support

Online reference library and online tools

Access to benefits info and HR policies

HR training courses

advanced HR consulting (RM)

Human capital assessment

Talent and organizational consulting

Agile leadership guidance

DEI strategies

common HR oversights (RM)

Outdated handbook

Poor disciplinary documentation

Incomplete EE files

Hiring too fast

Vague job descriptions/interview process

Poor HR policies and procedures

Upkeep of compliance

Fragmented or manual processes

Poor communications

financial services

Credit unions, banks, credit card companies, insurance companies, etc. Exchange IV is the only exchange for financial services companies because they typically pay top dollar and are more selective about the benefits they want to offer. Highest yield of all verticals

life sciences

Biotech, medical devices, digital health, etc. Typically smaller groups and constantly seeking funding. Riskier than other industries due to the volatility of the business and technology. Exchange III

nonprofits

 Mission or advocacy driven. Typically low budget so might not be as eager to adopt PEO. Smaller market

main street

Businesses within the blue and grey collar workforce. Includes wholesale distribution, manufacturing, restaurants, etc. High number of job postings and hiring, higher need for safety protocols. Exchange II or III

technology

Businesses that work on hardware, software, and consulting services

professional services

Advertising, marketing, healthcare, and scientific research services. Key differentiator from life sciences is that it doesn't produce products or technologies, just research or medical services

premium

The amount paid every month to have the insurance, even if you don't use it

renewal

When the insurance plan "resets" for the new year. Price, coverage, plan options, etc

open enrollment

Window of time when employees are allowed to enroll in, change, or drop benefits for the upcoming year. Happens upon hire and during qualifying events (getting married, having a child, turning 26

coinsurance

Percentage of the covered health care service or prescription drug you pay after the deductible has been met

copay

The set dollar amount paid for a covered health care service at the time you receive care or pick up prescription drug

out of pocket maximum

The most you will pay for covered serviced in a plan year, insurance pays 100% after

network

 Group of doctors, hospitals, and other health care professionals

in network

Services provided by a provider that has a contract with the insurance company

out of network

Services provided by a provider that does NOT have a contract with the insurance company

contribution

Amount the company pays (contributes) towards the premium

employee cost (premium)

Payroll deduction

What the EE pays out of their paycheck after the contribution

broker

 Licensed advisor who helps a business shop for, choose, and manage different insurance plan options

open market solutions

Enables clients who are not a fit for PEO solutions to consume open-market benefits through a broker, still includes HR services, provides our clients and prospects with flexibility

PEO

a third-party company that manages HR, payroll, benefits, and compliance for businesses through a co-employment arrangement.

trinet benefit options

-TriNet offers large group plans through national and regional insurance carriers

-TriNet does not sell insurance and is not a broker

-TriNet initially process medical rates based on a clients risk profile

-Client renewals are based on insurance carrier increases, the clients risk profile, and other factors

-Provides ACA compliance support

-TriNet doesn't necessarily "know" what’s going on at any client, so we are reactive on what the client tells us

minimum WSE for benefits

5: Non-profit, Prof. Serv,

10: Main Street

3: Tech, Fin. Serv., Life Sciences

workers comp

An employer paid insurance that covers expenses incurred to workers who are: injured on the job or become ill as a result of the job. Covers medical expenses, lost wages, and rehabilitation costs

ND, OH, WY, WA

four monopolistic states

monopolistic

no option to go through a broker or PEO, WC coverage comes from the state gov't, not covered by state taxes, company instead pays the state as if they were the "broker"

National Counsel of Compensation Insurance

NCCI

WC class codes

Every employee is coded (4 digits) within the company based on their role, these codes dictate the rates based on risk. Class codes can vary by state, managed by NCCI

Ex.: 8810 - Office/ clerical, 8742 - Outside sales, 8742 would be quoted higher because there is higher risk

NAICS swim lanes

 1-5 classification system, 5 is prohibited by workers comp because of the extreme risk

CHUBB

WC coverage provider

workers comp offerings

Workers comp coverage, administration, and support

Workplace best safety practices

Reference library with compliance updates, templates, and more

Legal hotline for general employment law questions

WC model

-TriNet does not require initial policy deposit, most other offerings do

-TriNet does not audit at policy end, most other offerings do

-Pay and audit as you go model month by month

SUTA (state unemployment tax act)

Payroll tax that employers pay into, once you hit the wage base cap, they stop paying

pay requirements

Check dates must be on business days; checks cannot be processed on weekends or federal holidays. If a scheduled check date falls on either, it will be moved to the prior business day

Should the employee be paid after this date, the employer may be subject to penalties and/or fees, potentially owing the employee more money

lag time

 time between the pay period end date and the check date, business days only

customer site setup

CSS

automated clearing house

Normal debit to the employees account, limit on possible amount pulled for each pay cycle

reverse fedwire

Safety net that allows payouts to employees when ACH limit has been exceeded in a given month.

96

Non-exempt employees require a __ hour lag time

CT, NH, RI

states that require waivers to be able to pay employees in increments longer than biweekly

payroll services

Payroll processing with payroll preview

Federal, state, and common local employment payroll tax withholding

W2 preparation and delivery

Wage garnishments

Payroll reporting, including custom reports

Time tracking and expense management

provider, renewal date, employee count, payroll method, email, decision maker

PREPED

first meeting

-Discovering and learning as much as possible about the client before ever talking to them

-Uncovers potential value to the prospect, get under the hood

-Help SC understand the industry and drivers to build trust and equal business stature

-Helps to uncover potential buying reasons

-Prepare a clear agenda to drive FM

-Prepare questions ahead of time

-ID stakeholders and decision makers

decision maker

-Someone with a combination of title, political clout, and an internal network that allows them to build consensus and find funding

-They are the ones feeling the pain

-Typically a CEO, CFO, or CHRO

precall planning

Information Gathering

1. Meeting Logistics:

-Share details, location, time, pre-call plan

-Set expectations

-How was the meeting set?

-Define (internal) roles and responsibilities

 

1. People and roles

-Who is on the call (titles, bios, background, roles)

-Who is NOT on the call (who should be on the call, who could be an influencer, who could be a detractor)

-When researching a contact, find something that they can relate to (rapport building, questions/analogies, trigger events)

 

1. Research and Strategy

-Potential triggers (ranked): open reqs, multi-state, multi-vendor, renewal, m&a, etc.)

-Recent developments and financials

-Products and services

-Clients and case studies

-verified partners and vendors

-milestones and capabilities

-innovations and competitive edge

-general workforce

-Public executive interviews, though leadership, visibility and publicity

-NAICS and industry classification

-risks and challenges

-Location and licensing

internal collab room

-SC and ASC use

-Centralized workplace to compare and collaborate on active deals

-Capture meeting notes, draft follow-ups, track next steps

-Use it to align with SC on strategy and priorities

-Keep everything in one place so progress is clear and easy to reference

-share it with engineer

external digital room

-Prospect facing

-a shared space where you house key materials for your prospect

-Showcase relevant TriNet resources as they evaluate solutions

-Keep it organized and easy to navigate

-Share link with stakeholders so everyone has access to the same information

-able to track clicks and time spent on certain materials to discern what is important to the client

request for proposal

Formal request for a detailed proposal

Includes company data, employee census, current benefits, and operational details

-Allows TriNet to build a customized solution (AND PRICE) across HR, payroll, benefits, and risk

-Happens after discovery and qualification

-Critical conversion point in the sales cycle- helps turn qualified leads into long term clients

-Bridge between conversation and commitment- moves deal from interest -> evaluation -> decision

-are not owned by one person

-Requires coordination across: SCs, ASCs, Pricing Analysts, Proposal Advisors, HR and Benefits Experts

-This is a cross functional execution problem, not a sales task

employee and dependent census

full list of employees + dependents, foundation of all pricing

workers comp declaration pages

 Current WC policy (coverage, states, class codes), defines risk exposure + coverage

Loss runs (3-5 yrs)

Historical claims data (WC), Drives pricing, risk, and approval/deadline decisions

medical invoices

Current benefits billing + enrollment data, required to assess enrollment + COBRA exposure for pricing

medical renewal documents

Upcoming/current benefits renewal, required for accurate pricing + timing feasibility (RFP docs)

summary of benefits coverage

Details of current benefits plan, enables plan comparison + competitive proposal design

TriNet prospect portal

where the deal gets built

-Client facing platform where prospects enter company/employee data, upload RFP documents, and complete required inputs for pricing

-Single source of truth for all deal data

-Automatically launched: via SFDC or prospect login

-Feeds: pricing, underwriting, and proposal creation

-Replaces: email back and forth, disconnected documents, manual tracking

Group Employee Benefits Consultant

GEBC

NSTW

Not just a SFDC update- it's the shared game plan for moving the deal forward

-Bad NSTW = vague ownership, stalled deals, extra-follow ups, unnecessary confusion

-Good NSTW = clear action, clear owner, clear timing, stronger handoff between ASC, SC, leaders, and support team

FM follow up

-Send next meeting calendar invite

-Subject line: Their words from the meeting- link to a solution, include TriNet in SL

-Send same day

-Have no more than 5-6 lines

-Attach a FAQ document with the answers for the DM when there are many questions

-Attach: Digital rooms, digital data sheets (vertical specific, overview, services, etc.), customer guidance

-Bulleted

stage 1

-FM scheduled

-FM completed

-First meeting scheduled

-Add yourself to opportunity

-Add NSTW

-Add TPP portal

stage 2

-Once the TPP contact is added and provided

-RFP process

-Consider offering a TriNet demo

-Collect RFP docs

-Build rapport with the prospect through continued engagement

stage 3

-Once the SC created the quote or proposal

-Pricing, build out funding strategy

-Once TPP is completed and ready to submit for pricing, we will create a quote on or off a benefit exchange and the opportunity will automatically move to stage 3

stage 4

-Proposal delivery and TSR generation

-Moves to stage X when the contract audit case is submitted

stage 5

-Client runs first payroll with us

-DUBS

pre sales engineer

-Helps turn our product into value- and value into wins

-TriNet's technology experts

-deliver customized, value-based demos to prospects

-Showcase how TriNet solves real business problems

PSE pre call

-Align on strategy and roles before the demo to ensure a seamless delivery and ownership of each section

-Equip the PSE with prospect-specific insights including business needs, pain points, goals, and priorities

-Customize the demo experience by highlighting features most relevant to the prospect and case

-Avoid generic demonstrations by providing guidance on what to emphasize and what to avoid

-Increase engagement and deal impact through a tailored demo aligned to the prospects industry, size and business objectives

-Improve demo effectiveness by ensuring the PSE is aligned

 

Items to address:

Business type, Number of WSEs, Multiple FEINs, current situation, why TriNet, pain points and must haves, who is on the call, key objectives, items to avoid, desired outcomes

cart

-TriNet "shopping cart" for building the deal

-Configure: services, headcount, exchange selection, pricing inputs

-Cart = foundation of the quote

chevrons

-Visual stages of approval progression in SFDC

-They show where the deal is, what's approved or what needs additional information, when you can generate the TSR

benefit strategy summary

-Tool that creates benefit comparisons and outputs

-Shows: current vs TriNet plans,

-Cost breakdowns

-Plan options

-Contribution strategy

-Enables side by side comparisons for decision making