In a Nutshell
- Cloud-based software
- Useful HCM tools, including a new-hire onboarding tool
- Diverse HR administration solutions
- Expensive for small-sized companies
Paycor at a Glance
Best for: Small and medium-sized businesses seeking scalability
Price range: Quote-based prices
Benefits & HR: 401k, child support, health insurance, life insurance
Automatic tax filing: Yes
Apps: iOS and Android
Features and Add-ons
Paycor presents a host of reliable cloud-based tools to assist businesses with their payroll and HR administration needs. Time tracking, attendance, automatic tax filing, applicant tracking, learning management, and benefits administration are a few aspects that Paycor can help with. The Paycor software suite is loaded with comprehensive tools that’ll help you get plenty done, even without dedicated employee management and payroll teams. Let’s look at some of these tools briefly.
- Full-service payroll administration with employee self-service accessibility.
- Automatic payroll processing.
- Tax-compliant calculations, deductions, and automatic filing.
- Employee onboarding tools from applicant level. Paycor claims that its software brings down the onboarding time of a new employee from 2 hours to just 6 minutes.
- Applicant Tracking System (ATS) with a database, processes, and tools to help employers manage recruitment, from online job applications through the interview process.
- Smartphone apps for employees to request time off, clock in and out of work, and easily check paycheck information.
- Talent development tools to keep employees focused with coaching sessions.
- Learning-management tools to organize and track an employee training.
- Training content to help employees transition to Paycor’s tools.
- Benefits administration, including medical insurance, life insurance, and 401k.
Paycor promises tax compliance across all 50 states in the US and manages tax calculations, deductions, and automatic filing. The company has a dedicated team for tax compliance that monitors changes and ensures clients are compliant with modifying federal and state regulations. Paycor’s tax compliance team will also update you about tax changes so that you’re not in the dark about new requirements and necessary tax updates.
Paycor offers businesses flexible payment options, like payroll cards, direct deposit, and checks. The intuitive software automatically creates payslips that are compliant with both the labor laws of the state you’re operating out of and any changing regulations. Across all of Paycor’s plans, businesses will enjoy unlimited pay runs and auto-run payroll. The payroll software can also automate processes like wage garnishments and employee child support payments.
Pricing/Costs & Fees
For medium and large businesses (50-1000+ employees), Paycor doesn’t mention pricing, and you’ll have to get in touch with them for a quote. But you’ll find 4 pricing plans for small businesses available on its website.
The Basic plan focuses on payroll delivery and tax compliance, perfect for a small business that isn’t managing many employees. But the advanced plans offer deeper insights and more tools for business growth and attracting, retaining, and developing talent.
Although it offers free setup on all plans, Paycor’s pricing is expensive compared to other payroll providers, especially for the small-sized-business segment. If you run a mid-sized business, you’ll want to talk to a Paycor representative and get a quote.
Setting up payroll is often a complex task for businesses, especially when it’s software they haven’t used before. Paycor simplifies this for users by offering free payroll setup. The Paycor personnel input or import all the employee data and even test the software before it goes live.
Once the system is up, you can view all its features from a customizable application page and remove or add features. You will also get a set of tutorials and demos for the various tools that’ll help you navigate the software better.
For payroll processing, Paycor relies on a pay grid to display all the employees. It shows both salaried and contract employees. If you’re using Paycor’s time-tracking tool, the approved hours will automatically fill the grid, so you don’t have to import information from one application to another. After you complete inputting the payroll details, you can check the summary page and update details before finalizing the pay run.
Paycor’s mobile app is well-developed, so employees can check their pay stubs, W-2s, and benefits information from wherever they are directly through the app.
Paycor has powerful payroll and HR tools for small and medium businesses, and there are over 40,000 businesses already using these tools. The company’s HCM offerings are quite comprehensive, especially the recruitment and talent development tools that provide everything from ATS to onboarding and training in a streamlined process. Although Paycor’s pricing can be expensive for small-sized businesses, and the website doesn’t mention pricing for mid-sized companies, the software is user friendly and offers plenty of automations to simplify your work.