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What type of company is Zenefits?

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What type of company is Zenefits?

Zenefits (legal name YourPeople, Inc.) is a technology company based in San Francisco, Calif., that offers cloud-based software as a service to companies for managing their human resources, with a particular focus on helping them with payroll and health insurance coverage. The company was founded in 2013.

What is unique about Zenefits?

Zenefits has a very unique business model. Zenefits does not charge any fees to its customers directly for its service (for the most part). Instead it makes its money (about $450 per employee, per year) by serving as the broker of record (insurance broker) on any insurance that is bought through Zenefits.

How and why Zenefits changed its business model?

Shifted from a free to paid subscription model. In early 2017, Zenefits changed its business model from a free offering to a tiered, paid subscription model. To date, more than 70 percent of Zenefits’ 10,000 customers have converted to paid subscription packages, showing the value of the People Platform.

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What is Zenefits used for?

Zenefits is a Software as a Service (SaaS) company that offers a cloud-based human resource information management (HCIM) platform to businesses for managing multiple HR services such as benefits, payroll, compliance, paid time off, health insurance, and more.

How many companies use Zenefits?

We have data on 1,044 companies that use Zenefits. The companies using Zenefits are most often found in United States and in the Computer Software industry….Who uses Zenefits?

Company MARION MONTGOMERY, INC
Revenue >1000M
Company Size >10000
Company YourPeople, Inc.
Website zenefits.com

Who is the CEO of Zenefits?

Jay Fulcher (Feb 3, 2017–)
Zenefits/CEO

What is Zenefits revenue?

43.5 million USD (2016)
Zenefits/Revenue

Which is better gusto or Zenefits?

Zenefits is more of an HR platform that offers payroll as an add-on service. Zenefits is a cheaper option for very small businesses, but as your business scales, Gusto is more cost-efficient. Overall, Gusto is your best option if you’re looking for a low-cost and easy-to-use platform for processing payroll.

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What happened with Zenefits?

Zenefits went from a $4.5 billion valuation to massive layoffs in less than two years. It was raising $500 million at a clip, and had a staggering $4.5 billion valuation. This week, the company laid off 45\% of its staff—about 430 people.

What went wrong with Zenefits?

Then, it all went wrong: Zenefits hired too many people, grew too fast, and the company culture spiraled out of control. “It is no secret that Zenefits grew too fast, stretching both our culture and our controls,” Sacks wrote in an e-mail laying off 250 employees. Another 106 employees lost their jobs in June.

Does Zenefits do payroll?

By syncing with our Time and Scheduling tools, the Zenefits payroll system automatically calculates the proper amount to pay hourly employees. As soon as an employee is onboarded, their data syncs with payroll, which makes the right deductions without missing a beat.

Who use Zenefits?

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We have data on 1,044 companies that use Zenefits. The companies using Zenefits are most often found in United States and in the Computer Software industry. Zenefits is most often used by companies with 10-50 employees and 1M-10M dollars in revenue….Who uses Zenefits?

Company MARION MONTGOMERY, INC
Company Size 1-10