What is Zenefits?
Launched in 2013, Zenefits aimed to disrupt the insurance industry which is known for being antiquated. The co-founders saw a need for a technical solution that would make it easier for organizations to manage their employee benefits and get insurance quotes. At the time, most software catered to large organizations. Small businesses were left to managing their employee’s benefits and insurance with paper.
The tech company has since grown and expanded its product offerings. It’s now a full-service, cloud-based platform that can support the full employee lifecycle. Zenefits still has a focus on the small business though. They are intentional about ensuring their system is a solution that works for small to mid-sized companies.
Which HR functions does Zenefits Support?
To keep aligned with its mission, Zenefits software can assist with many HR functions. The platform is broken into four key areas. Those areas include HR, payroll, benefits, and time and scheduling. The system is also mobile-friendly and self-service so that an organization’s workforce can be easily managed on the go.
What Makes It Unique?
Zenefits started out as a SaaS product dedicated to benefits and insurance for small companies, which included insurance brokers. They now partner with brokers across the US but haven’t lost the focus on the importance of providing all-around HR support to businesses.
If you’re a small company with an HR team of one or maybe no HR at all, you can tap into their Zenefits Advisory Services. They provide on-demand assistance with HR related items like policy development or employee classification compliance concerns. Even payroll or employee relations issues as well.
What HR Metrics Can You Track With Zenefits?
There’s a lot of data to analyze especially with the added tools to manage the employee benefits. Here are just a few HR metrics to support each software offering
- HR – Span of Control, Turnover, Offer Acceptance Rate
- Payroll – Payroll Tax Audit, Overtime Cost, 401(k) Spend
- Benefits – Benefits Plan Participation, Open Enrollment Completion Rate, 401(k) Enrollment
- Time and Scheduling – PTO Usage, Scheduled Hours vs Actual Hours Worked, Break Time Usage
Our Zenefits integration means that our HR dashboard easily connects to your human resources management system (HRMS). Our HR metrics tool will automatically pull in the data from the HRMS and calculate the metrics you need. Our Zenefits integration opens the door for eye-catching visualizations to easily tell the story behind the data.