In a Nutshell
- Cloud-based, paperless software
- Onboarding tool helps new employees
- Minimal support for setting up the software
- Limited benefits packages
A robust suite of solutions to help small- and medium-sized businesses looking to attract, retain and develop their workforces.
Features and Add-ons
Paycor offers a choice between its all-in-one Human Capital Management (HCM) platform or a simple payroll tool for businesses that don’t need all the added functionality.
Paycor’s GUIDE Elite implementation experience provides new customers with the hands-on guidance, expert support and tools they need to ensure a seamless transition during implementation. Paycor offers personalized training content targeted to your product suite, and a change management toolkit full of resources to help prepare you and your employees for the transition to Paycor.
The cloud-based software should be fairly simple to set up for any business with an in-house tech team. Paycor also provides useful demos to help with the setup process. However, some customers have reported not getting enough support from Paycor’s team with setting up the software – which could be an issue for smaller business that don’t have a resident technical expert on site.
Major features of the HCM platform include:
- Recruiting and onboarding management: Includes compliance, real-time analytics and reporting, and the ability for new hires to upload their information before their first day at the office.
- Learning management: Organizes, manages, and tracks individual employees’ training. Employees can use the tool inside or outside of the office.
- Talent development: Focuses on more frequent coaching conversations to help ensure employees are focused on the right priorities.
- Timekeeping and scheduling: Includes mobile punching, alerts and messaging, scheduling, budget planning, PTO tracking and overtime reporting.
- Payroll and tax: Includes tax compliance and real-time analytics and reporting.
- Benefits: Includes 401k and medical insurance packages.
- Compensation: Seamlessly plan and execute pay increases, bonuses and rewards across your organization.
Unfortunately, Paycor doesn’t offer any pricing information whatsoever on its website. The final cost of the product varies per partnering business, and depends on the size of the business, the industry in which it operates, and whether the business is looking to use Paycor’s all-in-one solution or a handful of selected features. Judging by customer reviews, Paycor is best suited to companies with 50-1,000 employees. With fewer than 50 employees, the cost-per-employee becomes much higher than similar competitors. With more than 1,000 employees, you may be better off with an HR services company that caters to large businesses.
As part of the service, customers receive assistance from tax experts who work to ensure compliance across multiple US jurisdictions. Paycor calculates your employees’ salaries and tax, debits the total amount from your business’s account, deposits the money with the employees, and files reports when they are due. It also connects directly to many of America’s largest 401(k) providers.
With Paycor, businesses can pay their employees via direct deposit or, alternatively, by Paycard using Paycor’s integration with several major Paycard providers. Employees can access all their pay stub and benefits information automatically through the Paycor mobile app. The software can also be used to automate processes such as employee child-support payments and wage garnishments (which involves a court order for an employer to withhold a certain amount of pay until an employees’ debts are paid off).
Judging by customer feedback, the software is simple and easy to use. Some businesses have reported having trouble with setting up the software, but once setup is complete employees should have no trouble using the system. Employees get access to a suite of free demos and tutorials to help navigate the system, and employees and management alike can benefit from the intuitive dashboard and detailed reporting and analytics.
When customers contact Paycor, they will be matched a person that can quickly and accurately answer their question or provide additional support. For some that mean simple help with a quick fix, like resetting a password. For others, it means talking to a specialist with specific skillsets and deep knowledge of the Customer’s business.
Paycor has a strong suite of HR products covering most major needs, such as hiring and recruiting, payroll, tax compliance, and leadership and training. It’s unfortunate that the website doesn’t disclose any pricing information, but if you can overlook the initial hurdles, Paycor has a solid offering for mid-sized businesses. The payroll solution offers the same necessary basics as that of its competitors. Perhaps the biggest highlight is the recruiting tool, which makes it easy to view and manage open jobs and applications and to onboard new employees with minimum fuss.
Industry: Healthcare, Manufacturing, Nonprofits, Professional Services, Restaurants, Retail
CEO: Bob Coughlin
Founder: Bob Coughlin
Geos: United States