.png){kind=spacer}
Paycom
Overview
Paycom is a full suite HRIS system that can serve as a one-stop-shop for companies, covering everything from payroll, benefits and HR to recruiting, onboarding, performance and learning. The system is designed for mid-market companies and gets strong reviews for administrative ease of use and employee self-service. Paycom is unique in the mid-market due to the fact that they have not acquired or partnered with 3rd parties to build their system, making the technology more comprehensive and integrated than peers in their space. This can lead to downstream advantages with reporting and reduction in manual re-entry
Blog: How Long Does it Take To Buy and Implement an HRIS
Market Segment
Paycom 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 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.
Learn More: Use our free HRIS matching tool to see costs, pros/cons and user reviews for every HRIS vendor
Costs
Paycom charges companies on a per paycheck basis. When converted to a Per Employee Per Month fee, a Paycom subscription can cost anywhere from $22-27 PEPM, depending on the size of your company and the modules included in your scope.
In addition to the software fees, Paycom will typically charge a one-time implementation fee. Paycom's implementation fees are typically about 10-20% of the annual software fees (i.e., $10-20K implementation fee on a $100K annual purchase)
Blog: How to Negotiate an HRIS Agreement
Strengths
- Paycom is a single database solution that is fully integrated from module to module, reducing the need for manual re-entry and improving reporting quality
- Paycom does a great job of incentivizing employee self-service through their quality mobile app, so that employees and managers contribute to the system and admins have less work on their plates
- Paycom provides a dedicated support model that does not require customers wait in queues or submit tickets
- Paycom recently rolled out a revamped payroll processing workflow that streamlines the workload for payroll managers
Weaknesses
- Paycom is not a great option for companies that want to integrate with multiple standalone HR systems (ATS, LMS, etc)
- Paycom is a premium priced service and doesn't discount as much as some of their peers
- Paycom's often hires early-in-career professionals for their customer support positions which can limit the amount of HR best practices a companies receives
Integration Capabilities
Paycom does not prioritize integrations with third parties, often encouraging buyers to take an "all-in" approach with their system. Most integrations with Paycom are manual file uploads, but they can occasionally support API integrations too. However, when it comes to carrier connections and integrations with accounting systems, Paycom is on par with their peers.
Free Tool: HRIS Requirements Builder
Global Capabilities
Paycom works better as a domestic payroll and HRIS system. Companies with global employees can store employee data in the system and global employees can use the onboarding, leave and performance modules. However, Paycom does not have global offices, language localization or any global payroll capabilities.
Blog: The Best Payroll Systems to Integrate with NetSuite
Modules Offered
- Payroll
- Benefits Admin
- HR / Employee Files
- Time & Attendance
- Onboarding
- Recruiting
- Performance
- Compensation
- Engagement
- Learning
.png)
