Vendor:
Founded:
Headquarters:
Paycom
1998
Oklahoma City, OK
Customers:
Deployment Model:
Free Trial:
36,000+
Cloud
No
Paycom At A Glance
Product Overview
Paycom is a robust HR and payroll software that helps organizations manage the entire employee lifecycle. It contains a single database that incorporates all of its modules, eliminating manual data entry. Paycom’s proprietary software can be customized to fit each client’s requirements, and companies can opt to enable only the modules that they need.
One main benefit of the software is self-service functionality for both employees and managers. Employees can access and edit their records (e.g., paychecks, time-off requests, benefits), which frees up HR to focus on more strategic work. Employees can access the software’s features either from a desktop or the Paycom mobile app. There’s a key feature called Ask Here where employees can ask questions that are automatically routed to HR.
Managers can interview and approve job applicants, approve time-off requests and expense reimbursement, and conduct performance reviews from their desktop or on the go via the Manager-on-the-Go mobile app.
The Paycom modules are grouped into five categories which are listed below.
- Manage (HR Management)
- Hire (Talent Acquisition)
- Engage (Talent Management)
- Pay (Payroll)
- Track (Time and Labor Management)
One unique self-service features we want to mention is the Beti automated payroll that lets employees process their own payroll. Employees follow a three-step payroll process via the Bet app: 1.) receiving any notifications of any actions needed before payday, 2.) preview their pay before approving it, 3.) get visibility into their paychecks and how they’re calculated. HR or Payroll can monitor the payroll process via a dashboard, including any pending tasks, checks adjustments or any retroactive pay action needed.
Features
Here are the key features of each category.
Manage – Along with self-service features for employees and managers, there are additional HR management tools, such as benefits administration, compliance monitoring, document management and 401(k) reporting. The Personnel Action Forms capture employee data changes (e.g., pay raise, title change) that are approved by HR and other key decision makers so the company stays in compliance.
There’s also the Direct Data Exchange feature that measures the employee self-service usage so the organization can track efficiency improvements and cost savings. Paycom automatically monitors the usage and presents real-time results, including a dollar value for each employee task. HR can get an overall view via the dashboard and drill down into specific metrics, such as module, device and individual.
Hire – The talent acquisition module helps recruiters streamline the hiring process. They can post job requirements to many boards simultaneously, set up screening questions and get insights into their recruiting pipeline. Paycom also checks each candidate’s background by autopopulating their information and then providing instant results from more than 300 million criminal records.
When a candidate is hired, their data automatically flows into the onboarding module, and recruiters can assign the new hire a checklist of items to complete before their first day. Finally, the E-Verify feature allows new hires to complete the I-9 form electronically and notifies recruiters if employees need to re-verify their citizenship status within 90 days.
Engage – The talent management module includes performance management, compensation budgeting and learning management functionality. Employees can set performance goals that align with the company’s objectives and complete self-evaluations. Managers can source 360-degree feedback for their employees. HR administrators can build competency libraries, group job positions by similar skills, obtain electronic signatures for performance reviews and track the review process.
HR administrators can also manage their compensation budgets by building a merit matrix that includes budget and performance ratios. They can adjust the matrix when needed, as well as access real-time compensation data using customizable reports. New rates, such as raises or bonuses, are automatically uploaded to the payroll system.
Lastly, there’s the Paycom Learning feature that allows employees to complete training requirements at their convenience. Users can customize their curriculum and assign specific courses to employees based on their role or performance. They can also track learner progress and course completion. Paycom Learning has a video content creator and a library of over 200 courses for unlimited use.
Pay – The online payroll system pulls in data from time cards for more efficient payroll processing. There’s a Payroll Grid that lets administrators further streamline the process using a customizable layout. They can complete certain tasks prior to running payroll and delegate those tasks to specific users. They can also receive warnings of any errors and make necessary changes.
Paycom supports direct deposit but also offers a service for employees that prefer to receive paper checks. The money is deducted from the Paycom bank account, then the vendor deducts the net payroll, taxes and fees from the client’s account each pay period. Paycom notifies the client if there are any uncashed checks and refunds them after 180 days.
As an alternative to paper checks, employees without banking accounts can opt to have all or parts of their paycheck available via the Vault Visa Payroll card. This way, they can avoid check cashing fees, plus there’s no activation fees, minimum account balances or monthly fees. It also frees up Payroll’s time, and avoids check fraud.
Paycom’s tax management service files and pays payroll taxes, administers end-of-year forms (e.g., W-2s) and automatically uploads state and local tax rate changes. Additional payroll features include batch-editing, auditing, reporting and analytics, garnishment administration, expense management and general ledger mapping.
Track – There’s a built-in, web-based time clock that captures employees’ start and end times. It has geofencing and IP address filtering to prevent unauthorized punches. In addition, employees can clock in/out via a choice of three hardware clocks (biometric, badge swap or proximity sensor). The time and attendance features can be customized to fit a company’s specific needs, such as rounding rules, holidays worked and shifts and weekends differentials. Managers can verify employees’ time cards in batches, track attendance, and create shift schedules. There’s also a labor allocation feature that tracks an employee’s hours based on their role or physical location.
Target Market
Paycom targets companies of all sizes in many industries. Some of those industries include:
- Distribution
- Finance
- Education
- Health care
- Hospitality
- Manufacturing
- Nonprofits
- Professional services
- Retail
- Technology
Free Report: 5 Essential Steps for Choosing the Right HR Software
Choosing an HR Software solution is all about finding the right fit. Our report will walk you through the process and help you make a smart purchasing decision. Download Now
Implementation/Integration
New clients work with a dedicated sales rep during the entire implementation process up to processing their first payroll transaction. The implementation timeline is based on the client’s requirements, and the sales rep can be on-site to help with any implementation issues and provide training to end users.
Customer Service & Support
Clients work with a dedicated customer success specialist who acts as the first contact for any technical issues, ensures payroll and tax filings are done accurately and provides best practices to help them get the most out of the software. Paycom also provides monthly software upgrades.
Pricing
Paycom doesn’t publicly display its pricing information, so please contact the vendor directly for a quote.
How Much Does HRMS Software Cost?
Download our free report to compare pricing on 13 popular HRMS solutions including BambooHR, Zenefits, and PeopleStrategy.Download NowShortcomings
The software has robust features, so there may be a learning curve for some users to get acclimated with it. (The vendor does, however, provide training resources to help). Also, because everything works off a single database, Paycom isn’t able to integrate with third-party systems.
Screenshots
About
Paycom was launched in 1998 as one of the first web-based HR and payroll software companies. Its mission is to provide businesses with a solution that lowers labor costs, promotes employee self-service and streamlines the HR administrative process. Its single database distinguishes it from other HR solutions, as it doesn’t require integration to multiple software.
Paycom has received many accolades, such as the 2023 Top Workplaces USA list, the 2023 Gallup Exceptional Workplace Award and Newsweek’s 2023 list of Most Trustworthy Companies in America. It also received the Glassdoor Employees’ Choice Award for Best Places to Work for large-sized companies in 2016, 2019 and 2020.
Paycom is headquartered in Oklahoma City and has many offices in other cities across the U.S., including Dallas, New York City and Los Angeles.
Download Vendor Comparison Guide
