Customer RetentionThe contraction in co-employed WSEs was attributed to lower sales conversion and higher attrition, both driven by higher healthcare benefit costs.
Macroeconomic ChallengesMacro economic uncertainty and an increase in medical care utilization has created headwinds for TriNet on the worksite employee and insurance cost front.
Sector ExposureHeavy exposure to Tech, Life Sciences and Financial Services has weighed on growth post Covid following tech layoffs and venture funding slowdowns.