
Where is Zenefits headed?
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On how other brokers view the company
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On how Zenefits will impact the industry
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On common misconceptions
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On where Zenefits won't go
Lets be honest, every study of any wellness program ever, the only time we have found actual scientific evidence that that cuts costs is smoking cessation, says Conrad. The rest of that is, like, not real. So we dont spend a lot of time on wellness programs because we dont think its something that works.
Payroll:
The reason is that payroll is really complex and there are really high switching costs. Wed much rather just be connected to everyone in that space and be friends with everyone in that space, he says.
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On commissions
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On the competition
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On youth
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On recruiting
Hes thought about acquiring firms, but to do so would mean more than a redirected phone line and a new name on the door. We actually have to convince people to implement and use our software, which is a much bigger change for them. Hopefully, its a positive change and a lot of them might be excited about it, but you still need to convince them, he says. Wed actually have to go through a sales process with each and every client if we were to buy a book of business in a way that a more traditional broker wouldnt have to.
Then theres the fact that Zenefits doesnt need to. Frankly, right now we can acquire customers for sales and marketing costs that correspond to about six months worth of revenue, Conrad says. Most brokers, if theyre selling their book, they want about three years worth of revenue to buy the book. So its basically easier for us to sell the client direct than it is for us to buy it from the broker, or less expensive.
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