Paycom Reviews & Pricing

Key Features

• Applicant Tracking System (ATS): Build customizable databases to view relevant applicant information and track candidates as they move through the application process. Managers can search and sort applicants by information such as degree, specific skill sets, work history and more. 
• Compensation Management: Define budgets, award bonuses and integrate with payroll to ensure that all employees receive fair compensation without overspending. 
• Job Posting: Allows managers to post open positions to thousands of job boards. Managers can also rely on recruitment data to build reports to determine if their recruiting efforts are working. 
• Payroll: Calculate taxes, process payroll, account for employee expenses and more, directly through the platform. Automate payroll processing, ensuring that employees are always paid the accurate amount at the correct time. 
• Performance Management: Schedule and facilitate employee performance appraisals directly through the platform. 
• Reporting: Leverage Paycom’s built-in analytics to generate reports on a variety of processes, including payroll, time and attendance, compensation and more. 
• Scheduling: Create and edit employee schedules and approve requests for time off through the system’s calendar. Automate time tracking and integrate with payroll to streamline pay processing. 

Approach to Common Challenges

• Manual Payroll Processing: Paycom automates tasks like time tracking, earnings calculations, tax withholdings, paycheck generation, and direct deposit to reduce errors, save time, and ensure compliance.
• Compliance with Complex Regulations: Paycom stays updated with federal, state, and local tax laws and regulations, automatically calculating and filing payroll taxes accurately and on time.
• Lack of Employee Self-Service: Paycom's employee portal and mobile app empowers employees to view paystubs, manage time off, update personal information, enroll in benefits, and access payroll information anytime, reducing HR workload and enhancing employee satisfaction.
• Inaccurate Payroll Data: Paycom's centralized database eliminates data silos and ensures accuracy and consistency across payroll, HR, and timekeeping systems, reducing errors and improving reporting.
• Time-Consuming Reporting: Paycom offers customizable reports and dashboards that provide real-time insights into payroll costs, trends, and compliance, enabling data-driven decision-making and streamlining reporting processes.

Cost Of Ownership

• Q: How much does Paycom cost?
  A: Paycom's pricing is not publicly available and typically requires contacting their sales team for a quote. It's based on a per-employee, per-month (PEPM) model, with costs ranging from $25-$36 per employee depending on company size, features included, and payroll complexity. This makes direct price comparisons challenging.
• Q: What are the additional fees besides the PEPM cost?
  A: Paycom may charge additional fees for onboarding, integrations, international payroll, advanced reporting, and dedicated customer support. Understanding these potential fees is crucial for accurate budget planning. Be sure to inquire about all potential costs during the quoting process.
• Q: Is Paycom worth the cost compared to other payroll solutions?
  A: Paycom's premium pricing requires careful consideration. While it offers robust features, ease of use, and strong compliance support, it might be overkill for smaller businesses with basic payroll needs. Evaluate your specific requirements, feature priorities, and budget constraints before deciding if Paycom's value justifies the cost.

Limitations

•  Confusing to add or remove employees from certain groups for employee scheduling. 
•  Can’t remove redundant modules or links within the website and mobile app. 
•  Cumbersome and lengthy login process. 
•  Difficult transition between client and employee access. 
•  Challenging navigation for report generation. 

Suite Support

FAQ

• Q: How does Paycom integrate with existing timekeeping systems?
  A: Paycom offers various integration options, including API connections and pre-built connectors for popular timekeeping systems. This allows seamless data transfer between systems, reducing manual data entry and errors.


• Q: How secure is Paycom's platform?
  A: Paycom prioritizes data security with industry-standard practices like encryption, access controls, and regular security audits. They comply with various regulations, including PCI-DSS and SSAE 18, ensuring data privacy and protection.


• Q: How does Paycom handle payroll taxes and filings?
  A: Paycom automates federal, state, and local payroll tax calculations, filings, and deposits. They handle complex tax situations and offer expert support to ensure accuracy and compliance.


• Q: How can I customize Paycom to fit my specific needs?
  A: Paycom offers a configurable platform with various features and settings. They also provide professional services to help businesses tailor the system to their unique workflows and preferences.


• Q: How does Paycom support my employees?
  A: Paycom provides employees with self-service access to paystubs, W-2s, and other payroll information. They also offer a mobile app for convenient on-the-go access and support resources for common questions.