What they do: Zenefits offers an online software for small to medium sized businesses to process many employee management needs. This includes new hire recruiting, paperless onboarding, payroll, benefits management, and other HR needs.
History: Zenefits was a disrupter to the insurance industry after raising more than $300 million at a valuation of more than $3 billion. Led by an outspoken CEO, they ultimately faced issues as the company chose to skirt the strict training requirements to gain licenses allowing them to advise on insurance products. Since that time the company has laid off more than 45% of its workforce, replaced CEO’s, and chose a new operating model.
Current direction: Zenefits continues to build on their cutting edge technology by expanding their products and integrations with other desirable third party applications (eg. Accounting software). This allows data to flow from the Zenefits platform to many other popular applications saving their clients time, dual entry, and manual error to get employee information from one tool to another. On this insurance side of the business, Zenefits has terminated their Broker arm and instead now partners with top Brokerages all around the country who can best advise on the complicated landscape of health insurance.
Your opportunity: EVCO is a preferred broker partner of Zenefits. This allows your company to tap into a leading employee management software that is now backed by local Broker expertise. Our partnership allows clients to gain discounts on the Zenefit product, and access to trusted representatives to advise on the best featured and functionality to implement for your specific business needs. With many Payroll and HRIS solutions to choose from, EVCO has found that Zenefits is the best fit for: company size of 5-150 employees, tech capable employee population, limited support in HR and/or a company looking to grow. One primary advantage of Zenefits compared to other solutions in this space is that it ultimately provides one system of record for most/all items in the employee management cycle.