TriNet is a Professional Employer Organization (PEO) that provides outsourced HR services to small and mid-sized businesses (SMBs). Under a co-employment model, TriNet becomes the employer of record for clients' workers, taking on payroll processing, payroll tax administration, employee benefits, workers' compensation, and compliance, while clients retain day-to-day management of their workforce. The primary reason SMBs use TriNet is access to health insurance plans that would otherwise only be available to larger employers — by aggregating hundreds of thousands of workers, TriNet can negotiate better coverage and pricing. TriNet targets employee-centric SMBs across verticals including technology, financial services, life sciences, nonprofit, and professional services. TriNet generates revenue through per-employee-per-month fees for HR administration and payroll, and through insurance premiums collected from clients to fund health and workers' compensation coverage. Critically, TriNet bears the underlying insurance risk directly rather than passing through third-party products, which the company argues enables better plan design but also exposes TriNet to underwriting losses when health care costs rise. A secondary offering, branded HR Plus, provides payroll and HR administration under an Administrative Services Organization (ASO) model without co-employment or TriNet-sponsored benefits. TriNet sells primarily through a direct sales force organized by industry vertical, supplemented by a growing health insurance broker channel. The company's growth strategy focuses on benefits product simplification, sales force expansion, and building out broker partnerships.