Gusto vs Zenefits
Last updated: October 11, 2017
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Face to face in the news:
2017 - Zenefits adds new tools for employee compliance to take on Gusto
HRM service Zenefits adds new tools for HR managers to ensure that employees are getting their documents in and they are compliant with regulations. The first new tool is a way for HR managers and employers to keep ahead of compliance requirements for their employees. For example, that might be flagging when an employee hasn’t submitted their required paperwork after accepting a job. This gives managers an overview of all the employees it needs to get in check in order to ensure that they are compliant with all regulations. The second is a documents-management application that gives HR managers a way to track all the documents that employees have to submit for their employers. The goal there isn’t to just offer file storage like a Box or a Dropbox. Zenefits’ documents app instead focuses on the metadata of those documents and tries to ensure that everything is signed and in a file somewhere. HR managers can upload documents on their own or request (or bug) employees to get their documents in on time.
2015 - Cloud HR management provider Zenefits raised $500 Million to challenge Gusto
The fastest growing SaaS comany in history, Zenefits has raised $500 million at a $4.5 billion valuation. Zenefits allows small- and medium-sized businesses to manage human resources services in a much simpler fashion. It offers its HR services dashboard to employers for free, and makes money by receiving commissions from insurers. Zenefits also said that it has signed up more than 10,000 companies in the U.S. and that it closed more business in March this year than it had in around the first year of its life. Now manages over $700 million in health insurance premiums, as well.