Former Zenefits CEO launches competing startup
HR Software space continues to grow
Just one year after leaving Zenefits, former CEO Parker Conrad has launched a competing HR software this week. The new software, called Rippling, will compete with Zenefits by offering software to automate onboarding and offboarding. Conrad has already secured $7 million for the venture, a number that suggests the HR software space is continuing to grow rapidly.
What is Rippling?
Rippling’s new website suggests they will do “the 100 little things that IT, HR, Facilities, Legal, Finance and employees have to do when joining, working at, or leaving a company.” These 100 little things include payroll, PTO, time and attendance, onboarding documents, and tax forms.
The product will be offered on a subscription model that ranges from free to $15 per month per employee. This model suggests the strong desire for small and medium size employers to bring their onboarding and offboarding online.
What does Rippling mean for brokers?
While there is no immediate mention of Rippling offering benefits, there could be in the future. More importantly, the development and heavy investment in Rippling suggests the strong desire by employers to automate HR processes.
With $1B of investments going into the HR software space, experts have some impressive predictions. Bersin by Deloitte predicts over the next 18 months, 60% of companies plan to roll out human resource solutions. There is no question that your clients are included in that 60%. So this leaves brokerages with one big decision and two options - to either support multiple client-chosen platforms or to choose a single solution.
Brokers need to acknowledge that the question is not if your clients are going to go online, the question is when. By taking a proactive approach, you can maximize the likelihood that this transition is a win-win for you and your clients.
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