GoCo vs Shareworks

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Our analysts compared GoCo vs Shareworks based on data from our 400+ point analysis of HR Management Software, user reviews and our own crowdsourced data from our free software selection platform.

Shareworks Software Tool

Product Basics

GoCo is a software platform designed to help businesses manage their HR tasks, offering features like payroll, benefits administration, and employee onboarding. It's a cloud-based solution that aims to simplify HR processes for small and medium-sized businesses. GoCo is known for its user-friendly interface, affordability, and comprehensive features, making it a popular choice among businesses looking to streamline their HR operations.

GoCo's key benefits include its ease of use, cost-effectiveness, and the wide range of features it offers. The platform is also highly secure, ensuring the protection of sensitive employee data. Popular features include payroll processing, benefits administration tools, and employee onboarding functionalities. GoCo's payroll tools are designed to save businesses time and money, while its benefits administration features help manage employee benefits programs efficiently. The employee onboarding tools facilitate a smooth and quick onboarding process for new hires.

Compared to other HR management software options, GoCo stands out for its user-friendly interface, affordability, and comprehensive features. It's important to note that pricing for HR management software can vary based on factors such as the number of employees and the specific features required. It's recommended to check with GoCo or other providers directly for the most up-to-date pricing information.

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Shareworks is a comprehensive software solution designed to streamline HR management tasks, particularly focusing on equity plan administration. It is most suited for companies of all sizes that need to manage employee stock options, restricted stock units, and other equity compensation plans efficiently. The platform offers robust features such as real-time reporting, compliance tracking, and seamless integration with payroll systems, making it a valuable tool for HR departments. One of the key benefits of Shareworks is its ability to simplify complex equity management processes, reducing administrative burden and ensuring accuracy. Users appreciate the intuitive interface and the detailed analytics that provide insights into employee engagement and plan performance. Compared to similar products, Shareworks is often praised for its user-friendly design and comprehensive support services. Pricing for Shareworks varies based on the size of the company and the specific features required, typically involving a subscription model with annual payments. This flexibility allows businesses to scale their usage according to their needs, making it a cost-effective solution for managing equity compensation.
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$5/Employee, Monthly
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$3/User, Monthly
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Product Assistance

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Product Insights

  • Centralized Record Keeping: Small businesses can spend less time on repetitive, manual tasks and more easily get accurate data of every employee. The unified platform centralizes employee records, time off data and HR documents. 
  • Flexibility: If companies already have benefits administration software, GoCo will include it to allow employees to register online. The system can also sync with an existing payroll solution if desired, so users don’t have to change the way they work or who they work with. This approach supports existing policies and service providers. 
  • Customizable Onboarding:  Embedded payroll, benefits and sync capabilities help new hires start strong from day one. From offer letters to tax withholding information, everything is done digitally.  
  • Simplified Leave Management: Users can build a policy for unlimited group PTO, adjust the accrual procedure for various locations and create a performance-based policy for each employee. It allows separating PTO from other absences when running reports.  
  • Business Growth and Compliance:  GoCo automates benefits administration, which removes the burden of remaining compliant to various regulations and eliminates costs so businesses can focus on growing. The system manages all types of benefits such as health plans and disability, and maintains strict adherence to the latest ACA, ERISA, COBRA, HSA and FSA regulations.  
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  • Streamlined Equity Management: Simplifies the administration of equity plans, reducing manual errors and saving time for HR teams.
  • Enhanced Employee Engagement: Provides employees with easy access to their equity information, fostering a sense of ownership and motivation.
  • Regulatory Compliance: Ensures adherence to global regulatory requirements, minimizing the risk of non-compliance and associated penalties.
  • Data-Driven Insights: Offers robust reporting and analytics tools, enabling data-driven decision-making and strategic planning.
  • Scalability: Adapts to the needs of growing companies, supporting a wide range of equity plans and participant numbers.
  • Cost Efficiency: Reduces administrative costs by automating complex processes and minimizing the need for manual intervention.
  • Improved Accuracy: Ensures precise tracking and management of equity grants, vesting schedules, and transactions.
  • Global Reach: Supports multinational organizations with features tailored to different countries' tax and legal requirements.
  • Employee Self-Service: Empowers employees to manage their equity plans through a user-friendly portal, reducing HR workload.
  • Integration Capabilities: Seamlessly integrates with other HR and financial systems, ensuring data consistency and reducing duplication of efforts.
  • Audit Readiness: Maintains detailed records and audit trails, facilitating easier and more efficient audits.
  • Customizable Solutions: Offers flexible configurations to meet the unique needs of different organizations and equity plans.
  • Real-Time Updates: Provides real-time updates on equity transactions and valuations, ensuring stakeholders have the most current information.
  • Security and Privacy: Employs advanced security measures to protect sensitive employee and company data.
  • Employee Education: Includes resources and tools to help employees understand their equity plans and make informed decisions.
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  • Benefits Administration: The automated enrollment process ensures employees receive the right benefit packages. It also has the option of syncing benefits with payroll and insurance carriers. In addition, it provides employees with a self-service portal and access to certified benefit advisors. 
  • Payroll: This feature provides users with the option of keeping their current payroll software and syncing data with GoCo. Capabilities include automated time tracking and PTO (including COVID-19 paid leave), calculated final paychecks and benefit deductions.  
  • Employee Onboarding: The entire onboarding and talent acquisition process is done digitally. Managers can send customized offer letters, receive documents and allow new hires to enroll in self-service benefits. They can also assign onboarding tasks and set up payroll. 
  • Time Tracking: This feature supports PTO tracking, adding holiday hours and calculating overtime synced with a timesheet so that employees are paid correctly. It provides reports about teams’ working hours. Employees can request PTO through this feature, while managers can approve PTO and automatically notify the employee about their remaining PTO.  
  • HR Compliance: Companies can be sure they’re adhering to the latest benefits compliance regulations with tools that unify record keeping and streamline documents collection.  
  • Security: GoCo operates on Heroku, a technology that grants peace of mind by providing security checks at every layer of the software to protect customers from breaches. 
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  • Equity Plan Management: Comprehensive tools for managing various types of equity plans, including stock options, restricted stock units (RSUs), and employee stock purchase plans (ESPPs).
  • Global Compliance: Ensures adherence to local regulations and tax laws across multiple jurisdictions, reducing the risk of non-compliance.
  • Participant Portal: A user-friendly interface for employees to view and manage their equity holdings, exercise options, and track vesting schedules.
  • Real-Time Reporting: Advanced reporting capabilities that provide real-time insights into equity plan performance, participant activity, and financial impact.
  • Automated Workflows: Streamlines administrative tasks with automated processes for grant issuance, vesting, and option exercises.
  • Integration Capabilities: Seamlessly integrates with HRIS, payroll, and financial systems to ensure data consistency and accuracy.
  • Customizable Dashboards: Personalized dashboards that allow administrators to monitor key metrics and access critical data at a glance.
  • Mobile Access: Mobile-friendly platform enabling participants to manage their equity plans on-the-go via smartphones and tablets.
  • Tax Optimization Tools: Features that help participants and administrators optimize tax outcomes related to equity transactions.
  • Audit Trails: Detailed audit logs that track all changes and transactions, ensuring transparency and accountability.
  • Employee Education Resources: Comprehensive educational materials and tools to help employees understand their equity compensation and make informed decisions.
  • Data Security: Robust security measures, including encryption and multi-factor authentication, to protect sensitive information.
  • Scalability: Designed to accommodate the needs of companies of all sizes, from startups to large enterprises.
  • Support Services: Access to dedicated support teams and resources to assist with implementation, troubleshooting, and ongoing management.
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Product Ranking

#117

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HR Management Software

#121

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HR Management Software

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User Sentiment Summary

Excellent User Sentiment 287 reviews
Good User Sentiment 14 reviews
95%
of users recommend this product

GoCo has a 'excellent' User Satisfaction Rating of 95% when considering 287 user reviews from 4 recognized software review sites.

74%
of users recommend this product

Shareworks has a 'good' User Satisfaction Rating of 74% when considering 14 user reviews from 1 recognized software review sites.

4.8 (188)
n/a
4.73 (48)
3.71 (14)
4.7 (47)
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4.2 (4)
n/a

Awards

GoCo stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

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Synopsis of User Ratings and Reviews

Simple Interface: GoCo's interface is clean and easy to navigate, making it simple for HR professionals to find the information they need quickly.
Automated Workflows: The platform automates many HR tasks, such as onboarding new employees and managing benefits, which can save HR teams a significant amount of time.
Employee Self-Service: GoCo's employee self-service portal allows employees to manage their own information, such as their contact details and benefits elections, which can free up HR staff to focus on other tasks.
Compliance Support: The platform helps businesses comply with employment laws and regulations, such as the Affordable Care Act (ACA) and COBRA.
Integrations: GoCo integrates with a variety of other business software applications, such as payroll and accounting software, which can help businesses streamline their operations.
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Easy to Use: Users consistently praise Shareworks for its intuitive interface, making it easy to navigate and manage employee equity plans, even for those with limited experience.
Streamlined Administration: Shareworks simplifies the administration of equity plans, automating tasks like grant issuance, vesting calculations, and reporting, freeing up HR teams to focus on other priorities.
Comprehensive Reporting: The platform provides detailed reports on equity plan activity, allowing HR to track key metrics, analyze trends, and make informed decisions about compensation and equity strategies.
Excellent Customer Support: Users consistently highlight the responsiveness and helpfulness of Shareworks' customer support team, providing timely assistance and resolving issues efficiently.
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Limited Customization: The platform's rigidity can be frustrating for companies with unique or complex HR needs, especially when it comes to tailoring workflows or data fields.
Payroll Integration Issues: Several users report problems syncing GoCo with their payroll systems, leading to inaccurate data and time-consuming manual fixes.
Mobile App Shortcomings: The mobile app's functionality falls short of the web version, limiting on-the-go access for employees and HR admins alike.
Customer Support Challenges: Response times and issue resolution can be slow, leaving users feeling stuck when they encounter problems.
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Limited Reporting Options: Some users have found the reporting features to be limited, making it difficult to track key metrics like employee engagement or performance.
Steep Learning Curve: The platform can be complex to navigate, especially for new users, requiring significant time investment to master its functionalities.
Lack of Customization: Users have expressed frustration with the limited customization options, making it challenging to tailor the platform to their specific HR needs.
Integration Challenges: Integrating Shareworks with other HR systems can be a cumbersome process, leading to data inconsistencies and potential errors.
Customer Support Issues: Some users have reported difficulties reaching customer support or experiencing long wait times for assistance.
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GoCo appears to be a rising star in the HR software realm, garnering positive feedback for its user-friendly interface and robust features. Users frequently highlight its intuitive design, making it a breeze to navigate even for those with limited HR experience. The platform's comprehensive suite of tools streamlines core HR functions, including onboarding, benefits administration, and payroll, saving businesses valuable time and resources. GoCo's magic lies in its ability to automate tedious tasks, such as document management and employee data tracking, allowing HR professionals to focus on strategic initiatives. However, some users note that GoCo's reporting capabilities could be more extensive, limiting in-depth data analysis. Additionally, while the platform integrates with several popular payroll providers, some users desire broader integration options. Despite these minor drawbacks, GoCo's strengths in user experience, automation, and core HR functionality make it a compelling choice for small to medium-sized businesses seeking an all-in-one HR solution. Its ease of use and comprehensive features empower HR teams to efficiently manage their workforce, making it an ideal fit for organizations looking to streamline HR processes and enhance employee experiences.

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Is Shareworks really share-worthy, or does it need a performance review? User reviews from the past year present a mixed bag when it comes to Shareworks. Some users appreciate the platform's intuitive design and robust reporting capabilities, highlighting how it simplifies complex equity plans and provides a clear audit trail. For example, one user praised the software's ability to model different forecasting scenarios, which helped them make informed decisions about their equity compensation. However, other users have voiced concerns about the platform's customer support and occasional technical glitches. One user specifically mentioned experiencing difficulties integrating Shareworks with their existing HRIS system, leading to delays and frustration. This disparity in experiences suggests that Shareworks's suitability hinges on specific needs and expectations. Shareworks seems to be a good fit for publicly traded companies or large private companies with sophisticated equity compensation plans, especially those already familiar with Morgan Stanley's suite of financial services. Its strengths lie in its comprehensive features, detailed reporting, and integration with other Morgan Stanley products. However, smaller businesses or those with simpler equity structures might find the platform's complexity and cost outweigh its benefits. Ultimately, deciding whether Shareworks truly "works" for your organization requires careful consideration of your specific requirements and a thorough assessment of its capabilities against your needs.

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