Great Services
Pros
- Paperless and cloud-based software
- New employees guided by onboarding tool
Cons
- Limited support for software setup
- Time-tracking for an added fee
Overview:
Paycor, a publicly traded HR company, has successfully secured over $250 million in funding and currently serves a vast user base of over 2 million users. Going beyond a simple payroll service, Paycor provides comprehensive support across a wide range of areas that are essential for HR departments.
With general ledger integration, OnDemand Pay, AutoRun, employee self-service, and robust reporting capabilities, Paycor streamlines the payroll process for businesses. The system provides step-by-step guidance, ensuring transparency by providing a clear understanding of debits before running payroll.
Products and Services
Paycor offers a unified platform that caters to the HR needs of small to midsize businesses, consolidating various tasks such as onboarding, payroll, expenses, and talent development. Through the employer or HR department portal, businesses can efficiently manage their organizational chart, share company news, and stay updated on new hires and the onboarding process. Paycor enables businesses to run payroll seamlessly, set up benefits administration, and effectively manage open roles and expenses.
Paycor has four plans offered to small businesses. These packages work best for companies with less than 50 employees.
Basic
The Basic plan features tax and federal filing, automated payroll, a mobile app for employers and employees, and a self-serve portal for employees. With on-demand pay, employees can choose to get paid on a specific date instead of waiting for the next default payday.
Essential
For administrators who need more features for compliance management, the Essential plan is something to consider. Paycor will provide onboarding support, access to training and labor law posters, and document templates. The plan also covers 401(k) processing, recruitment tools, and compensation coverage and deduction for workers.
Core
The Core plan encompasses all the features provided in the Basic and Essential plans, along with additional benefits such as access to an HR professional, expense management, and Paycor’s career management features.
Complete
The Complete plan includes the entirety of the features offered in the three other plans. In addition to that, it covers compensation planning, advanced analytics, talent development features, and Paycor paths, which specifically cater to leadership training.
Paycor Features
Paycor provides businesses with a choice between two options: an all-in-one Human Capital Management (HCM) platform or a streamlined payroll tool. This allows businesses to select the option that best suits their needs, catering to those who require comprehensive functionality as well as those who prefer a simpler payroll solution without additional features.
GUIDE Elite
Paycor’s GUIDE Elite implementation experience is designed to offer new customers a smooth and hassle-free transition during the implementation process. It provides hands-on guidance, expert support, and a range of tools to ensure a seamless experience.
Onboarding
Paycor provides a user-friendly solution for onboarding new employees. Through their platform, all the required paperwork can be completed online, eliminating the need for cumbersome paper forms. This includes collecting personal information, tax forms, and setting up direct deposit, all in a digital format.
Time Tracking
Paycor integrates a comprehensive range of HR functionalities into a single program, although time tracking remains an additional feature. Through Paycor Time, employees gain the ability to conveniently clock in and out of work using either a browser or a mobile app. Moreover, employees can effortlessly submit PTO requests directly from their personalized dashboards and track their paid time off.
Tax Filing
Paycor’s payroll software efficiently handles tax calculations, ensuring accurate deductions and withholdings based on applicable tax laws and regulations. It also takes care of tax filing and payments, streamlining the entire process.
Compliance
Paycor provides businesses with various avenues to safeguard their operations and ensure tax and regulatory compliance. By utilizing Paycor’s integrated time and attendance and payroll features, you can efficiently track employee hours and maintain an audit trail, which can prove invaluable in the event of future audits or inquiries. Paycor provides helpful reminders to support compliance in various areas, including recruiting, tax filing, and payroll.
Reporting
Paycor provides a range of pre-built reports designed to aid in visualizing specific types of data, enabling informed decision-making. By utilizing these reports, you can gain insights into employee turnover and identify departments that are most affected. you have the flexibility to isolate specific data points of interest, such as headcounts, income, or labor costs.
Pricing
Paycor’s pricing information is not publicly available on its website. The cost of the product is determined on a case-by-case basis, taking into account factors such as the size of the business, the industry it operates in, and the specific needs and preferences of the business.
It is recommended to contact Paycor directly to inquire about pricing details and receive a personalized quote based on the specific requirements of your business.
Customer Support
Paycor provides multiple channels for support, including chat, phone, and a support center. To access customer support via phone and the support center, a Paycor login is required. The support center offers answers to frequently asked questions and resources such as videos for account setup, articles for onboarding assistance, and information on requesting time off. Additionally, support is available through email and phone throughout the weekdays (Monday through Friday) during specific hours 8 a.m. to 8 p.m. Eastern Time.
Final Word
While Paycor does offer payroll services, it goes beyond that by providing small businesses with a comprehensive human capital management (HCM) solution. With Paycor, businesses can benefit from automated payroll processing, a user-friendly mobile app for both employers and employees and the ability to generate custom reports tailored to their specific needs. Paycor takes care of new hire reporting and automates the filing of tax documents, ensuring compliance and saving valuable time.
