Paycor Payroll: HCM Products, Review, and Features
Paycor has been providing human capital solutions to over 30,000 small and medium-sized businesses for over 30 years. Paycor provides businesses with a suite of tools to help them manage their payroll, HR, benefits administration services and streamline their operations. Paycor offers flexible plans for its platform, so you only pay for what you need.
Paycor is a great option for small and midsized businesses; it supports a variety of industries such as healthcare, restaurants, retail, professional services, non-profit organizations, manufacturing, and education. Paycor also offers specific solutions to said industries depending on their size and employee count and will provide them with the package they need.
The Better Business Bureau accredits Paycor with an A+ rating, and customer reviews have praised its benefits administration and open enrollment, which made their employees more engaged and informed with the process.
HR & Payroll Software
Paycor's payroll software provides you with a single login and password for everything you need to process. The software is also available on mobile as an application that allows you to access pay information and approve timecards anytime, anywhere.
Paycor offers you pay flexibility with its multiple payment options, and you can choose between direct deposits, Paycards, and OnDemand Pay, all of which are also available on its mobile application.
Your payroll runs and calculations are performed automatically, and in real-time, so you get to make any last-minute changes easily and never worry about getting it wrong. In addition, you are provided with a pay summary dashboard that gives you clear visibility into cash requirements, tax liabilities, and tons of payroll reports.
Moreover, your employees gain self-service features to retrieve their own documents such as pay stubs, W-2s, and benefits information.
As for tax processing, all tax filings, including W-2 and 1099, are automatically taken care of. In addition, Paycor provides you with precise recordkeeping that captures critical data to ensure compliance. Its HR and payroll software can also take care of your benefit deductions, garnishments, deposits, and report filing.
The HR software provides you seamless system automation with automated workflows, reminders, notifications, and more. It also provides your employees a central space for communications and self-service. In addition, your document management will become paperless by creating, assigning, sharing, and storing digital documents and forms in one place.
The software packs extensive employee recordkeeping, where you can access, edit or update all employee information in one place, including timecards, pay rates, contact information, and more.
Paycor will help you optimize your company's performance reviews and gain a deeper understanding of your data with insights on headcount turnover, compensation, absenteeism, and much more. You can also enhance communication with company updates, mobile push notifications, and chat so your employees stay informed and engaged. Lastly, you can protect your business with guidance on compliance and labor law, in addition to toolkits and manuals.
Paycor also provides you with powerful insight and analytics tools that offer you deeper insights and transform your data with graphical visualizations to help you understand it more. Moreover, its Predictive Analytics for Resignations tool uses a predictive data model to identify the probability and extent of employee turnover in the next 12 months.
Another top-notch feature offered by Paycor is it's powerful benchmarking, where you get to see how you stack up against your competition by leveraging EEOC government data that can be filtered and sorted across different parameters. You can also predict absences and resignations, reduce overtime hours, and increase productivity along with other KPIs based on historical data.
Paycor goes the extra mile in protecting your company and helping it stay compliant with its risk-monitoring tool, which allows you to easily identify compliance risks by monitoring trends in overtime, absenteeism, payroll, and more.
Paycor's recruiting software was designed by recruiting professionals to provide you with simple, smart, modern recruiting and software that thinks like you. The recruiting software offers you a candidate dashboard where you can easily view all job candidates, their status, and priority job listings.
You can expand your reach and find active candidates with automatic job postings to Indeed, LinkedIn, Glassdoor, and other platforms. Plus, you can reward employees with an easy-to-use tool for sharing job openings to their personal network profiles.
You can also create and customize hiring workflow processes that meet your unique needs and use interview scorecards to save post-interview feedback automatically. Paycor also packs a solid video scheduling integration, which allows you to recruit, interview, and hire candidates remotely.
Moreover, your onboarding processes are made easy and efficient with Paycor's mobile experience, so you can have your new hires fill out forms and documents and sign them from anywhere. You can also provide your new hires with a handbook of your company's information, policies, colleagues, or team, and more to familiarize them with their work environment.
Last but not least, your onboarding software is integrated with your HR & payroll software, so your hiring processes become streamlined without the need for redundant administrative work.
Talent development tools include goal alignments and 1-on-1 conversation tools, where you can clearly present each employee's goals and provide a direct communication channel with their managers where they can send direct reports with customizable preloaded templates. Paycor's feedback tool will also improve communications between peers, teams, and your entire workforce
You are also gifted with a nine-box grid where you can visualize individual performance, evaluate employee potential and develop complementary coaching strategies. In addition, you are supplied with a template library of questions to guide performance conversations.
Paycor's compensation planning software is packed with guided support tools and workflow automation to help you make informed decisions about your pay practices and take the heavy burden of tracking and executing compensation plans and events.
Automated workflows and notifications from your desktop or mobile allow you to execute your compensation plans from anywhere and anytime while gaining a competitive advantage by creating pay practices that land you a great candidate and motivate your top performers.
You can use the compensation planning tools to update your employees' pay rates at once for cost-of-living adjustments or recognize workers with an off-cycle raise. Furthermore, you can create what-if scenarios to view comparison ratios to the impact and distribution across your team before committing to pay increases.
Paycor's time and attendance tools are synced with your payroll software. Your employees can use their mobile phones to punch in or enter their daily hours manually and transfer departments, plus request time off. Your time dashboard will provide you with all time-off requests and hours worked in one place, so you get a unified experience and eliminate any costly errors.
Time and attendance tools are packed with compliance checks where every working hour is recorded, in addition to geo validation and modern time clocks that feature WI-FI connectivity, PIN entry, and badge proximity to reduce time theft, so you can capture the exact time and location where your employees punch in and out.
Scheduling tools allow you to create reliable schedules that you can edit anytime, create templates and assign shifts with a few clicks. In addition, you can send real-time notifications and shift reminders by email or text from your mobile device, and lastly, you can eliminate missed shifts by allowing your employees to set their availability and easily swap shifts.
Employee experience tools can give your employees a voice by regularly checking in how they are feeling at any given time and getting to know what matters most to their teams. You can easily share Pulse surveys among your staff and get back vital information about their needs, concerns, or any outliers.
You can also give your employees an intuitive learning management system that packs unique courses and compliance tracking. You can reward your employees with badges within the platform and gain clear visibility over your training success with precise feedback, real-time reports, and automated alerts for milestones or course completions.
Paycor will help you develop succession strategies, career development, and future planning for your employees to drive their engagement and improve their productivity. You can create role responsibility profiles to ensure your employees are meeting expectations and see which areas are prone to improvement. You can also add skill assessments and evaluate job responsibilities to determine competencies and grow your employees' careers.
Moreover, you can drive engagement with action-oriented assessments so employees know if they are on track or need to put in more work. You can directly assess their performances in reviews and improve your outcomes with dashboards and workforce insights, so you can easily identify gaps or risks and put mitigation plans when they are needed.
Paycor's benefits administration software allows your employees and new hires to choose their benefits online and reduce your administrative work and headache. It connects you with all major insurance carriers to accurately deliver enrollment data for your employees to pick their plans and have them enrolled online with its simplified open enrollment process guides.
Paycor also promises you ACA filing success, as it will generate and file required forms like 1094-C and 1095-C, as well as provide you with feedback on submission status and a full history review. Its interactive dashboard will also help you identify eligibility across administrative periods, compare past and current measurement periods, and view remaining hours before an employee becomes eligible.
Paycore divides its plans for companies with below 50 employees and companies with over 50 and up to 1,000 and more. For large businesses with over 50 employees, pricing is quote-based; Paycor will prompt you to fill in a short form about your business and provide you with the best plan and package that suits you best; in addition, you get the first three months for free!
As for small businesses, four plans are offered:
Basic - $99 per month + $5 per month per employee
Essential - $149 per month + $6 per month per employee
Complete - $199 per month + $7 per month per employee
HCM - $199 per month + $12 per month per employee
Each plan earns you one free month of payroll, with set up fees waived and its own set features. Refer to their website for more information.
You can contact their support team by live chat or phone at 855-565-3285 or use the help center to find answers to the frequently asked questions or any inquiry you may be facing. You can also find webinars and case studies in their resource center to get more familiar with Paycor and its clients.
Paycor offers one of the most comprehensive human capital management systems (HCM), which include payroll, HR, time, workforce, and benefits management. It will automate your payroll runs and all kinds of tax filing while providing you with valuable insights and reports to better lead your business.
Large businesses with over 50 employees can get their first 3 months for free after requesting a custom quote and package, while small businesses under 50 get one month of free payroll and their set up fees waived.
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