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How Much Does Namely Cost?
Namely charges companies on a quarterly or annual subscription basis. Depending on the modules included and the size of your company, Namely's software fees can cost between $19 and 26 PEPM.
Additionally, Namely does charge a nominal implementation fee to clients to get started. This fee is typically ~10-25% of the annual software fees.
Namely also offers HR outsourcing services, such as Managed Payroll and Managed Benefits. These services can cost as much as the software itself, but would allow organizations to keep their HR headcount lean.
Namely is not quite an all-in-one HRIS system but their platform can offer most of the core functions that an HR team is looking for in an HRIS, while allowing 3rd party solutions to integrate into Namely where they have gaps.
Namely was founded in 2012 in New York City and raised over $200M over the next six years to build their employee-friendly HRIS platform. As Namely has settled into their place in the market, they have carved out a niche for mid-sized companies with a high percentage of salaried, highly paid employees who are looking for a modern HR experience.
What Sized Companies Fit Namely Best?
Namely is considered an SMB HRIS, which means the system works best for companies with between 50 and 350 employees. SMB solutions are designed to cover some, but not all HR needs with some gaps to be filled in by 3rd party solutions. SMB solutions are typically more user-friendly and more modernly designed than other vendors. Additionally, they are typically built with integrations in mind and have open APIs. A solution like Namely usually takes 6-8 weeks to implement and requires a bit of configuration work from the administrator. SMB solutions tend to have limited rules engines and custom workflow tools, which can limit how scalable they can be.