How Much Does Paylocity Cost?
Paylocity charges employees on a per employee per month (PEPM) basis. A Paylocity subscription can cost anywhere from $15-22 PEPM, depending on the size of your company and the modules included in your scope.
In addition to the software fees, Paylocity will typically charge a one-time implementation fee. Paylocity's implementation fees 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 Paylocity?
- Benefits Admin
- HR / Employee Files
- Time & Attendance
- Recruiting / ATS
- Compensation (limited)
- Learning (limited)
For most small to medium sized companies, Paylocity can serve as a one-stop-shop for all of their HR-related needs. Paylocity started off as a payroll provider, but has continued to develop broader capabilities over the years.
Historically, Paylocity has partnered with 3rd party systems for their benefits admin and timekeeping tools, but recently Paylocity has started to develop their own capabilities and remove those third parties from their platform.
Who is Paylocity?
Paylocity was founded in a suburb of Chicago in 1997. The company caught the tailwinds of the internet software boom and has steadily grown to become one of the three biggest payroll providers in the country today.
Paylocity is now a public company with thousands of employees and tens of thousands of customers. Paylocity continues to make strategic investments in their platform and has responded well to market trends such as global payroll, custom workflows and better integrations.
What Sized Companies Fit Paylocity Best?
Paylocity is considered a Mid-Market HRIS, which means the system works best for companies with between 50 and 350 employees. Mid-Market solutions are designed to be an all-in-one HRIS for companies with fairly standard HR requirements.
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.