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Paycom is a top-rated payroll software, used by over 2 million businesses worldwide. It’s designed for simplicity and ease of use making it an easy choice for anyone who wants to set up their own HR pay roll system or switch from another one. Here are some pros and cons that you should consider before deciding whether Paycom is the best fit for your business.
Paycom is a software that helps businesses manage payroll. This review will discuss the features and functions of Paycom, as well as how it stacks up against other HR payroll software. Read more in detail here: paycom reviews from customers.
Paycom is a complete HR and payroll software for companies who wish to handle all of their human resources tasks in one place. Its platform is meant to automate and simplify operations like as recruiting, time and attendance, payroll, benefits, and Management of Talent. Paycom is suitable for expanding enterprises and medium to big firms looking to use its integrated human capital management (HCM) solution.
Pay a visit to Paycom.
Paycom’s Recommendations
Paycom’s HR and payroll solutions assist companies in managing their personnel from hiring to retirement. Among other things, it allows you to manage candidates, onboard new personnel, track time and attendance, pay staff, and implement online training programs. It also has mobile applications that let your workers to check their information, pay stubs, and tax forms, as well as, more importantly, administer their own payroll. This makes Paycom an excellent choice for companies looking for a complete platform with integrated solutions to help with day-to-day HR administrative work.
In a nutshell, Paycom excels at:
- Changing payroll providers for growing organizations from a smaller provider might be a complicated procedure, but it’s important when you outgrow your current one. Paycom includes a comprehensive variety of functions (recruiting, payroll, HR, and benefits) to help developing enterprises and medium to big corporations manage their HR needs. It also assigns you a dedicated professional to ensure that you have all the help you need, not only during setup but also while handling payroll and HR.
- Paycom’s recruiting and onboarding solutions may help you locate appropriate candidates for available jobs, track applications as they go through the hiring process, and onboard new recruits if you’re hiring and want to simplify your talent acquisition and management operations. Online learning sessions to develop skills, performance evaluations to highlight areas for improvement, and pay plans to reward and retain staff are all available via Paycom’s online solutions.
- Companies with remote workers: Paycom has good mobile applications (for iOS and Android smartphones) that employees, supervisors, and system administrators may use while they’re not in the office, as long as they have access to the internet. PTO requests, time and attendance records, and cost claims may all be reviewed and approved by managers and system administrators. Employees, on the other hand, may access their pay stubs and tax reports, as well as handle their own payroll for each pay period.
When Paycom Isn’t the Right Fit
- Payroll and HR services for small businesses: Paycom’s comprehensive array of HR products may be intimidating to small organizations, and there may be a learning curve owing to all of the options provided. It’s also not the most cost-effective option for those who just need to conduct payroll for their employees. For additional information, see our guide to free payroll software.
- Companies in need of dependable third-party software integrations include: While Paycom includes a GL Concierge tool that makes it simple to produce mapping reports that can be loaded into accounting software, it lacks strong third-party connectivity possibilities. If you don’t want to move to Paycom’s completely integrated system because you’re using numerous HR solutions from other suppliers, look into our other suggested payroll software and HR payroll solutions, since many of them interact with a variety of third-party tools.
Are you looking for something unique? To choose a service or program that’s perfect for you, see our guide to the top payroll services for small companies.
Overview of Paycom
Pay a visit to Paycom.
Pricing at Paycom
Paycom’s price is tailored to your needs; you must discuss your needs with the supplier and seek an estimate. The price we got indicated a one-time charge of $500 for 15 workers and $1,200 for 40 employees for system setup, training, and implementation. The cost of a pay run is $4–$6 per employee, every paycheck, plus $6.95 for each Form W-2 and a $75 yearly transmittal charge. Other HR services and solutions, such as time and attendance, need additional costs, which are $4 per person in our offer.
Paycom’s Advantages
Paycom is a cloud-based human resources and payroll software that helps companies identify, recruit, onboard, pay, train, and retain employees. Its many capabilities are meant to automate your organization’s basic HR and payroll operations while also assisting you in effectively managing your personnel. Here are a few of Paycom’s most important features:
Processing of Payroll
Paycom’s Beti solution, which is one of the functions of Paycom’s mobile applications for iOS and Android smartphones, has relieved HR and payroll administrators of the strain of processing payroll. Each pay month, Beti allows your employees to conduct their own payroll. This gives your workers enhanced information and complete transparency into their upcoming payments and deductions, while also lowering the amount of payroll work you and your HR staff have to undertake.
The Beti solution from Paycom is ideal for businesses who don’t have a lot of off-cycle payments. All you have to do is set up the regular pay cycles in the system, and Beti will alert workers when it’s time to process their own pay. Running payroll with Beti is also simple, thanks to the in-app instruction that guides workers through the process and even offers advice on how to deal with pay problems (like missing time data). If there are any problems, Beti notifies the affected workers so that they may correct them before their paycheck is approved.
Employees may examine, evaluate, and approve their own paycheck using Paycom’s Beti. (Paycom is the source.)
Paper checks and direct deposits
Paycom’s typical method of salary payment is direct deposit, but it also allows you to issue paper checks from Paycom’s bank account rather than your own. This solution helps cut bank costs and reduce general ledger transactions, in addition to removing the requirement for check reconciliations following each pay run.
Management of Payroll Taxes
Paycom automatically deducts and pays your payroll taxes on their due dates, as well as remits and files them on time. It may also submit your tax returns (Forms 940, 941, and W-2) for you on a weekly and annual basis.
Management of Time and Labor
Paycom’s web-based time clock, mobile app, and physical time clock, which you can buy or lease, allow your workers to clock in and out. Its time tracking software allows you to implement limits (such as geofencing and IP address screening) to prevent illegal punching in addition to amending and approving digital timecards. Employees, on the other hand, have the ability to examine and submit time sheets, seek PTO, and assign hours to various projects and locations.
Paycom also contains a scheduling system with shift templates, schedule shifting, and labor cost projection features. Furthermore, all data from employee scheduling and time monitoring is immediately sent into the company’s payroll module. Because Paycom’s products are designed to function together, there is no need for manual data uploads.
Fingerprint scans, RFID card swipes, and proximity fob taps are all supported by Paycom’s time clock terminals. (Paycom is the source.)
Tools for Recruiting Talent
Paycom’s talent acquisition solutions enable you to advertise available jobs on job boards, monitor candidates, issue personalized offer letters, onboard new recruits, and conduct background checks. Paycom can also assist you in determining if job applicants are eligible for Work Opportunity Tax Credits (WOTC), enabling you to take advantage of financial incentives for employing people from groups who traditionally have a hard time obtaining work. Military veterans, former offenders, and designated community inhabitants in rural renewal counties and empowerment zones are among these categories.
The recruiter dashboard on Paycom gives you a quick overview of your open requisitions, job postings, and applicant applications. (Paycom is the source.)
Management of Talent
Develop your workforce and improve employee engagement with Paycom’s suite of Management of Talent solutions. Aside from a learning management module where you can deploy online training courses, Paycom has a compensation budgeting tool for creating merit matrices. You can also use it to control your compensation budget and ensure that salary increases are equal to the employees’ work contributions.
Paycom’s performance management module, which includes evaluation forms that workers may fill out and submit online, can help you keep track of your employees’ job performance. System administrators may follow the submission status via a dashboard, while people managers can provide real-time feedback.
Paycom’s mobile app gives you and your workers access to performance evaluations. (Paycom is the source.)
Management of Positions
Paycom provides a customisable solution that enables you to establish an org chart, manage reporting links between roles, and set up compensation grades for jobs to assist expedite the process of managing staff moves across different positions in your firm. This is useful for adding, promoting, and relocating personnel since it makes unfilled jobs more visible. Furthermore, since position-related changes are automatically logged across Paycom’s platform, the danger of human mistake due to manual data input is reduced.
You may also give roles qualities to assist you manage permissions, training programs, performance evaluations, and compensation planning. Furthermore, if you connect jobs to benefits eligibility profiles and time tracking protocols, you won’t have to manually tag which workers are eligible for various benefits or time tracking regulations (such as overtime exemption)—Paycom will take care of it.
Personnel Action Forms in an Electronic Format (e-PAFs)
Paycom eliminates the need to maintain physical PAFs to document changes in the employee’s position and salary, including when they were hired or separated from the company. Its PAF solution lets your managers edit and submit e-PAFs through its software or mobile app. It has built-in change categories to ensure that the reason for the movements are uniform and accurate. You can even link it to Paycom’s Management of Positions module so that the position titles used in the e-PAFs are consistent across the organization. All approved changes will also reflect automatically across Paycom’s various modules.
The authorized e-PAFs will also be sent to the involved workers by Paycom. Employees will be required to acknowledge the change (i.e., promotion, lateral transfer, or wage adjustment) by clicking the “Acknowledge” button on the system’s software or mobile app.
Paycom’s organization chart allows you to construct e-PAFs directly. (Paycom is the source.)
Self-Service Portals and HR Management
Paycom’s HR management solutions include online document management, employee satisfaction surveys, and onboarding and offboarding procedures. It may also be used to set up employee benefit plans, deduction amounts, and enrollment dates for your organization. It also has a “Ask Here” function to assist your employees in finding answers to HR and payroll problems. While it may send workers’ questions to the proper HR personnel, you can automate the process by creating bespoke FAQs.
Employees may also clock in/out, submit time off requests, see pay stubs, access tax forms, attend online training courses, and update personal information using Paycom’s self-service site. Managers may also approve PTO requests, timecard revisions, ePAFs, and scheduling changes using a self-service portal.
Paycom’s User-Friendly Interface
- An easy-to-use and straightforward interface
- HR and payroll software that’s everything in one place
- Transitioning in a hands-on manner
- Access to a specialized expert
- Employees and supervisors may use mobile applications.
- Beti is a payroll service for workers that follows a step-by-step approach.
Paycom is simple to set up and operate. The firm appoints a personal professional to guide you through the setup process and answer any HR and payroll questions as soon as an agreement is made. A no-cost on-site training for you and your workers is also offered for midsize and corporate customers.
Paycom is especially notable for its integrated solution suite, which allows data to flow seamlessly from one module to the next. Your workers’ real hours worked are sent from the system’s time and attendance solution to the payroll tool for processing. Similarly, as represented in authorized e-PAFs, staff moves and wage adjustments are immediately updated across the platform.
Employees will find it simple to process payroll with the Beti solution. To guarantee correct and timely payments, Beti walks your employees through the whole payroll process. Furthermore, since everything goes via an online approval procedure, HR managers don’t have to worry about workers altering their pay rates or time entries.
Users’ Opinions on Paycom
Many consumers gave Paycom excellent recommendations on third-party websites including G2 and Capterra. The majority of them praise its user-friendly UI and comprehensive mobile app, which includes features not seen in other comparable programs. Others like the fact that they can access many HR solutions from a one platform.
However, considering the extensive variety of capabilities it offers, some reviewers claimed that it had a high learning curve. Some customers have also expressed dissatisfaction with the company’s uneven customer support, while others have reported occasional login difficulties and software malfunctions.
Paycom reviews received the following ratings on prominent user review sites at the time of publication:
Alternatives to Paycom
Check out our guide to picking the best payroll software if you need assistance deciding which software is perfect for you.
Conclusion
Paycom is a cloud-based payroll and HR software designed for growing companies and big corporations. It uses a single database to enable users to access all features without having to log into numerous systems. It also delivers monthly updates and information to its customers so that they can get the most out of the system. It has a superb support staff, according to users, and it has really aided them in improving their business procedures.
Pay a visit to Paycom.
The “paycom pros and cons” is a review of Paycom’s HR payroll software. The review will go over the features, cost, and how it compares to other solutions in the market.
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