As a sales consultant for TriNet, Kira Frye focuses solely on helping financial services companies create a streamlined process around HR, employee benefits, risk and compliance, and back office policies and procedures.

Spotlight Summary

For Kira Frye, companies in the financial services industry cannot underestimate the power of a positive company culture. Kira works with small to midsize businesses to create a tailored HR strategy and employee support system to ultimately help them grow. To do this, she believes it’s essential to be current in the ever-changing industry by staying on top of trends ranging from cryptocurrency to fintech. 

Resources 

• TriNet Company Website 
• “Top 10 Tips for Creating an Employee Recognition Program”
• “The Secret Recipe for Workplace Culture”
• HR Services Financial Services

To learn more about our On Purpose guest, please visit Kira’s LinkedIn page. 

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On Purpose: Growth Trajectory Strategies from Financial Services Leadership

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Audio Transcription

Lauren Hong (00:00):

Thanks so much for being with us today. Excited to hear more about your role. And I know you've worked in the financial services space and with a number of different companies, especially in Southern California. So I'm going to actually, before I steal your thunder here, pass it over to you to share a little bit more about your background and your role in and seeing the inside of different financial services companies.

Kira Frye (00:32):

Yeah. And thanks so much for having me, Lauren. I'm really excited to be a part of this blog series. A little bit about me, Kira Frye, I've been in San Diego now for close to seven years and with the company that I'm with now, TriNet, an HR co-employment professional employer organization, about two and a half years. I’ve been solely focused on the financial services industry, which makes me really excited to talk to you because we both kind of work in that same space and we're supporting the same, C level, Gen X, millennial generation, and hopefully helping them achieve their growth goals and their organizational objectives through basically kind of giving different solutions and a mindset that is not traditionally what is in the market. So, something top- of-mind when I've been talking to a lot of the CEOs in this space and around our age is their excitement around our model, that it is different.

Kira Frye (01:48):

It's consolidating multiple vendors for HR, such as your payroll, your workers' comp, your medical benefits and all your benefits all under one house, one platform, one unified solution versus kind of having them siloed. You know, you have a broker for workers' comp, the brokers for medical benefits. And then some of these smaller businesses may not even have an HR person that is certified, and being in California, there are a lot of compliance concerns around that, where the legality in terms of possible employment lawsuits comes up and that could put some of these businesses out of business. So we come in and really provide support. And that's what makes me excited to partner with these businesses here in San Diego.

Lauren Hong (02:40):

That's great. And since we are seeing the inside of a space, do you think that there is anything within financial services that either leadership's doing, or maybe HR tactics that are being implemented that you feel like are really disrupting the industry or on trend to be disruptive from kind of not just the way it is now or the way it's been, but what it could look like in the future?

Kira Frye (03:03):

Yeah, I'm definitely having those conversations, especially in HR. We're seeing so much turnover, not just in financial services, but just in companies in general, but in financial services being impacted by it, I think, due to COVID and people kind of realizing benefits and HR and culture are really important to the employees now. So they're now looking elsewhere. And there's a lot of opportunities and options for people to look at alternatives and with us coming in and being that co-employer and that partner, we get on that Fortune 500 look that some of those large private equity firms have for these small to midsize companies, under a hundred employees. So we really try to enhance that culture, give them those options. Really rich benefits as well as the support on the HR side and employee marketplaces are things that our generation, the millennials, as well as the Gen Xers really appreciate.

Lauren Hong (04:14):

Okay. So if I'm hearing you correctly, then it's also about not just offering someone a package, right, when they're coming on the team, but what does that full company culture look like and how would that be implemented on the HR end? Not just kind of here's the offer, but it's that full client experience, and it looks different because of the pandemic and all of that as well.

Kira Frye (04:39):
Exactly. Yeah. So really being that support and hopefully enhancing the overall, like I said, the culture of the company.

Lauren Hong (04:52):

Yeah. That makes sense. And then is there anything within financial services that you feel like is, gosh, if this would happen, cause you're getting the bigger picture, if this would happen, it would really help to speed up growth for organizations or really help them to stand out, or is there anything you think is hurting organizational growth within this space?

Kira Frye (05:17):

Yeah, I guess on the HR side, I think it's really about improving and supporting employee morale and rewarding the employees, whatever that may be. Some of the things I like to suggest are rewards programs, and those can even be talked about with how we would position our partners we work with. And I think that would really help financial services companies differentiate themselves. Like I like to say, registered investment advisors, there's a lot of those companies, and firms that are actually getting ready to sell and I guess they're selling or staying within the family, but the younger generation and our generation really likes to be complimented and showcase our abilities and what we can do in the space and the industries we're in.

Kira Frye (06:28):

And I think of rewards programs as one to use. I think just having a tailored support system, because every individual is so different and some people are really part of that brand part of that organization. I think that's where financial services can really look to grow. I'm trying to think anything else that I can think of off the top of my head, but that would be the main one I would see and talk about.

Lauren Hong (07:25):

Do you guys help to put together programs?

Kira Frye (07:28):

We have some included, yes. And we can include it in our service model. Yes.

Lauren Hong (07:36):

All right. And then, what makes you the proudest about working for TriNet?

Kira Frye (07:47):

When our company, as a partner, enhances the culture including improving employee morale. This helps the owners, founders, CEOs, of these, at financial service companies anywhere from five employees all the way up to a few hundred, it helps them achieve their overall growth goals because people are just so proud of working at this private equity firm that started with four or five employees. And now they're up to 20 within a year, or a few hundred in the next few years. It just becomes truly synergetic because we’re trying to help them get there. I love talking to the clients that I brought on that say we couldn't have done this without you guys as a partner. So that kind of makes me the proudest, day in and day out, when I hear how much the entire company from employees to CEOs appreciates the partnership. 

Lauren Hong (08:48):

So it sounds like you're not just having conversations about tactical implementation, but what are real strategic ideas that help them differentiate themselves? And how do you implement that across the board if I'm understanding you correctly? 

Kira Frye (09:03):

We want to have those meetings, full conversations, as a consultant in the HR space to really help them achieve those strategic goals that they're trying to implement in the next six months or a year. 

Lauren Hong (09:19):

And you have the benefit of being able to see from an umbrella picture some of that decision-making for a number of companies in this space. So I think that's also a really interesting perspective because not everyone has the fortune to be able to see what you can as it impacts people's day to day and either their company culture or how that company stands out.

Kira Frye (09:47):

I really enjoy that piece of it. Yes.

Lauren Hong (09:49):

That's understandable to hear. Because that's a gift to be able to see that and then to help advise other people on what can set them apart. And I'm sure you've got like a finely tuned ear now, too. I've heard that or that sounds like this or that. I'm sure you align your services with things that can really help them to shine, too. 

Kira Frye (10:17):

Exactly. We try to tailor it to impact their objectives as best we can.

Lauren Hong (10:24):

Yeah. That's fair. And then what do you do to help stay relevant? In this industry there's all different kinds of things that are happening in between fintech or just different conferences or thinking and research. And then not only do you pair that with HR and especially in California, that's kind of a beast. What do you do to make sure that you're advising and ensuring that these companies are getting the really ripe knowledge and information?

Kira Frye (10:57):

Yeah. So internally, our company does do a lot of great webinars, and I know a lot of companies are doing webinars and so are we, so I think that is very beneficial and relevant when the topic is something that the financial services firms are really focusing on at the moment, like a really hot button issue is employment tax retention credits. Employment retention tax credits can be very meaningful to consumer lending firms that are on a growth trajectory and then took a pause right at COVID and then they start growing again because mortgage lending firms, just that industry, is booming right now. So that's one piece and how we provide support. And then the other thing I do daily is I read The Morning Brew to just stay relevant overall and know what's going on because I don't technically always watch the news.

Kira Frye (11:56):

And then, specifically for financial services, I do the San Diego Business Journal daily as well, and Crunchbase, because I tend to focus on private equity firms and venture capital. I really like to know what's going on locally, as well as nationally in the investment space and acquisition space. So Crunchbase has been a really good one for me because of the companies I target here in San Diego. And I see when there's been a close of a fund or an acquisition. I can be very specific in reaching out and being supportive when that happens and hopefully make some meaningful introductions. And I'm trying to think of anything else. Some events I really think are good for our financial services industry and I attend pretty often are from ACG, Association for Corporate Growth. They hold some great events here. There's just a lot of great people to connect with. And I love seeing over and over again and talking and seeing people move from certain financial firms or are still at the same one.

Lauren Hong (13:20):

Excellent. This is really helpful. Is there anything else you'd like to share that you think could be relevant?

Kira Frye (13:25):

I'm trying to think. The only other thing is that the space is always ever changing from cryptocurrency and specs as a way to invest or go public versus the traditional S&P and IPOs. I think there's a lot of great information that has been circulating around those topics. I think that's about it. Technology has always played a role; I think it enhances and it's also disruptive, especially in the financial services space. But from my seat in HR and in this industry, I really want to help as a partner, enhancing the experience side of the business and HR obviously for the employer.

Lauren Hong (14:20):

That makes a lot of sense. I appreciate you sharing that, too. So this has been very helpful. Thank you for sharing a little bit more about your background. And then also, as I mentioned earlier, it's helpful because you do see that  umbrella-level view, and talk with so many different companies in this space. So I think you provide a really unique lens to be able to help guide not just where that company is, but where they want to go from a business strategy perspective. So it's helpful to hear that firsthand. Thank you again for your time today and I look forward to hearing more.

Kira Frye (14:53):

Thank you for having me and I can’t wait to connect again. Absolutely.