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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
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.
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Paycom charges companies on a per paycheck basis. When converted to a Per Employee Per Month fee, a Paycom subscription can cost anywhere from $24-34 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 15-30% of the annual software fees (i.e., $15-30K implementation fee on a $100K annual purchase)
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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.
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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.
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