DUBLIN, Calif., Nov. 3, 2021 /PRNewswire/ -- TriNet, a leading provider of comprehensive human resources for small and medium-size businesses (SMBs), announced the release of its inaugural TriNet Environmental, Social and Governance (ESG) report, as introduced on its third-quarter 2021 financial earnings call on October 25. The report details the central role ESG plays in TriNet's operations.
"By being intentional about our focus on ESG standards, we can directly impact our stakeholders—from the thousands of small and medium-size businesses we serve and their employees, to TriNet's own colleagues and our investor community," said TriNet President and CEO Burton M. Goldfield. "Our inaugural ESG report helps establish a benchmark of corporate responsibility for us to measure all our initiatives moving forward and gives us a roadmap for how to lead by example and action."
TriNet's release of its initial ESG report provides additional transparency to its stakeholders, as well as details on its sustainability practices, social responsibility, and robust corporate governance framework. Through the information disclosed in the report, TriNet underscores its core values (Lead with the Customer, Stand Together, Act with Integrity, Make an Impact, Be Incredible), which remain the foundation of the company's culture. The company plans to share its ESG progress on an annual basis.
"Identifying, tracking and reporting on ESG-related initiatives within a governance framework is essential for us to ensure we are making responsible decisions and taking actions that are in line with our company's mission, vision and values," said TriNet Senior Vice President, Chief Legal Officer and Secretary Samantha Wellington. "This ESG report is the next step in our efforts to report on areas where TriNet strives to have impact, as well as what we are doing to achieve those goals. We believe that our efforts to increase our transparency to our stakeholders are a key element in fulfilling our vision of becoming the most trusted advisor to the small and medium-sized business community."
The report imparts TriNet's commitment to its customers, colleagues and community, especially in the wake of the COVID-19 pandemic. Highlights of TriNet's 2021 ESG report include:
Return to the office (RTO): TriNet developed an RTO program that compares to pre-pandemic work requirements but will result in fewer people commuting to and from offices, thereby reducing office space, energy usage and related emissions.
Paper protection: TriNet encourages its customers' employees to move away from paper checks. In 2021, TriNet reduced paper paychecks by 51% from 2019.
The Green Team colleague resource group (CRG): The TriNet Green Team—one of a number of TriNet CRGs—provides TriNet colleagues a place to come together, share, and drive environmentally focused ideas related to awareness, sustainability, environmental justice and equity.
Diversity, Equity and Inclusion (DEI): TriNet informs how it executes on its DEI strategy. This framework is built upon foundational principles to align all its DEI work in support of three pillars of execution: education and awareness, communications and marketing, and HR standards, practices and talent.
Leadership development: TriNet works to develop a pipeline of diverse leadership talent from within the company through a curriculum made up of formal courses, coaches, mentors and informal leader cohorts. TriNet also offers a rotational program that pairs one or two colleagues with a business leader or member of the executive leadership team to serve as that person's chief of staff for 18 to 36 months.
Pay transparency: TriNet implements voluntary practices that supplement its compliance with pay transparency laws—from adding procedural steps during the recruiting process to integrating multiple teams to help identify market pricing for jobs.
Board composition: Currently, 12 directors serve on TriNet's board, including four directors who identify as women and three directors from historically underrepresented communities. TriNet has added three new directors since November 2020.
Enterprise risk management (ERM): Building upon its established risk management strategies, TriNet launched a comprehensive enhancement to its ERM in 2021. To ensure coordination, consistency and economies of scale to improve TriNet's current risk management practices, TriNet is designing its ERM program with the intent of identifying, prioritizing, analyzing and remediating important risks.
Privacy and Data Security: TriNet's multi-focused approach to safeguarding the privacy and security of the information it receives—from annual in-house training of colleagues to systems designed to keep information assets secure within recognized industry standards.
About TriNet
TriNet (NYSE: TNET) provides small and medium-size businesses (SMBs) with full-service HR solutions tailored by industry. To free SMBs from HR complexities, TriNet offers access to human capital expertise, benefits, risk mitigation and compliance, payroll and real-time technology. From Main Street to Wall Street, TriNet empowers SMBs to focus on what matters most-growing their business. TriNet, incredible starts here. For more information, visit TriNet.com or follow us on Twitter.
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SOURCE TriNet Group, Inc.