A Guide to Paycor’s Pricing: What You Should Know

Paycor

How Much Does Paycor Cost?

Compared to Paycor competitors, Paycor is typically a good value option in the mid-market. They charge companies on a per employee per month basis, and a Paycor subscription can cost anywhere from $19-27 PEPM, depending on the size of your company and the modules included in your scope. Paycor payroll pricing depends on the modules included, however.

In addition to the software fees, Paycor will typically charge a one-time implementation fee. Paycor pricing for implementations are typically about 10-20% of the annual software fees (i.e., $10-20K implementation fee on a $100K annual purchase)

What Modules Are Included with Paycor?

• Payroll
• Benefits Administration
• HR / Employee Files
• Time & Attendance
• Onboarding
• Recruiting / ATS
• Performance
• Compensation
• Learning

For most small to medium sized companies, Paycor can serve as a one-stop-shop for all of their HR-related needs. Paycor started off as a payroll provider, but has expanded their offerings by acquiring leading HR software point solutions and incorporating those tools into their system.

See How Paycor Stacks Up: Interested in how Paycor compares to the competition on cost, features, and more? Businesses can also explore detailed Paycor reviews to better understand customer feedback, implementation experiences, support quality, and reporting capabilities.

Who is Paycor?

Paycor was founded in Cincinnati in 1990. Paycor started off as a regional payroll software platform focused mostly on small businesses in the Midwest. But over the years, Paycor has developed a full suite of HR software features and moved up-market to serve larger customers.

One of the defining features of Paycor compared to other payroll software companies is how their growth-by-acquisition strategy has enabled their system to be more feature-rich than their peers, especially with their talent management modules (recruiting, performance, engagement). This acquisition-heavy strategy comes at a cost and the Paycor system is not as unified or internally integrated as some peers.

What Sized Companies Fit Paycor Best?

Paycor is considered a Mid-Market HRIS, which means the system works best for companies with between 50 and 500 employees. Mid-Market solutions are designed to be an all-in-one HRIS for companies with fairly standard HR requirements.

Using a structured requirements builder can help organizations determine whether Paycor’s workflows, reporting capabilities, and talent management tools align with their operational needs and long-term growth plans.

Mid-Market solutions typically take about 2-3 months to implement and do not require external consultants to successfully implement and manage the solutions. Mid-Market solutions can be limited in how scalable they are, due to a lack of custom workflow tools and limited rules engines.

Paycor is not a Professional Employer Organization (PEO) so they do not offer employee benefits or provide fully outsourced HR services.

Pros and Cons of Paycor

Strengths of Paycor

• Paycor offers some of the best talent management tools in the mid-market HRIS space, due to their acquisitions of market-leading ATS and performance tools
• Paycor’s ATS is competitive with standalone point solutions and offers AI sourcing, recruiting dashboards and custom workflows
• Paycor’s performance tools include goal tracking, pulse surveys, career planning and more
• Paycor has developed strong scheduling & timekeeping functionality allowing them to better support industries with hourly workforces
• Focus areas include: healthcare, retail, manufacturing, restaurants and nonprofits
• Paycor will waive, or steeply discount, implementation fees for customers that hire a 3rd party implementation firm, so clients can more easily hire consultants

Concerns with Paycor

• Due to their growth by acquisition approach and the multiple databases in the system, Paycor’s reporting tools can be lacking in real-time data
• Similar to other large, national payroll vendors, Paycor’s support can be hit or miss and they don’t offer implementation project managers for smaller customers
• Paycor’s mobile user interface is straightforward and easy-to-use but their desktop experience could use a more modern update
• Paycor does not usually target global companies and doesn’t have any notable integrations with global payroll solutions
• Paycor’s typical customer is in the 50-350 employee space and their can be scalability concerns for companies with complex needs and reporting structures

Organizations comparing multiple HRIS providers can also benefit from vendor shortlisting support to identify the best-fit platform based on pricing, integrations, scalability, and workforce management needs.

FAQs

1. How much does Paycor cost?

Paycor typically charges on a per employee per month (PEPM) basis, with subscriptions ranging from $19 to 27, depending on company size and included modules. Additionally, there is usually a one-time implementation fee, typically around 10-20% of the annual software fees.

2. What modules are included with Paycor?

Paycor offers a comprehensive suite of HR management tools, including Payroll, Benefits Administration, HR / Employee Files, Time & Attendance, Onboarding, Recruiting / ATS, Performance, Compensation, and Learning.

3. Who is Paycor best suited for?

Paycor is considered suitable for mid-market companies with between 50 and 500 employees. It caters to organizations with fairly standard HR requirements seeking an all-in-one HRIS solution. Paycor's focus on talent management tools, including recruiting and performance, makes it a preferred choice for businesses in industries such as healthcare, retail, manufacturing, restaurants, and nonprofits.

Companies evaluating additional payroll and HR technology options can also browse OutSail’s software vendor directory to compare HRIS vendors by industry, company size, and functionality.

4. What are the strengths of Paycor?

Paycor's strengths lie in its robust talent management tools, including ATS and performance management, acquired through strategic acquisitions. It offers competitive features such as AI sourcing, recruiting dashboards, custom workflows, goal tracking, pulse surveys, and career planning. Paycor also provides strong scheduling and timekeeping functionality, particularly beneficial for industries with hourly workforces.

5. What are the concerns with Paycor?

Despite its strengths, Paycor's reporting tools may lack real-time data due to its growth by acquisition approach and multiple databases in the system. Additionally, customer support can be inconsistent, and the mobile user interface is more user-friendly than the desktop experience. Paycor typically targets domestic companies, and its scalability may be limited for organizations with complex needs and reporting structures.