HR Software

Paycor Reviews - Pricing, Pros/Cons, User Reviews

February 15, 2021
  •  
5
Brett Ungashick
Founder

Paycor is the most recent national HRIS company to go public, completing their ascension from mid-sized regional player to large, national contender. Paycor has a unique offering in the mid-market. Keep reading to learn more!

Paycor

Overview

Paycor went public in 2021 symbolizing their transition from regional payroll solution, to a large national HRIS player. They have taken a best-in-class approach to growing their system, as they've acquired cutting edge ATS, Performance and Engagement solutions. Paycor is typically a cost-effective option and has landed well in industries like the nonprofit sector where their price point and scheduling capabilities are prioritized.

Learn More: Download a vendor report comparing Paycor and their competitors

Market Segment

Paycor 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.

Blog: How Long Does it Take To Buy and Implement an HRIS

Costs

Paycor charges companies on a subscription basis and is often one of the more cost-effective solutions on the market. Paycor's solution can cost anywhere from $13-19 PEPM, depending on the scope and modules included

In addition to the software fees, implementing Paycor will require a one-time implementation fee. Paycor will charge ~ 10-20% of the annual software fees for their implementation fees (i.e., $10-20K implementation fee on a $100K annual purchase)

Blog: How to Negotiate an HRIS Agreement

Strengths
  • Paycor takes a best-in-class approach to growing their product and has acquired two market leaders in Newton (ATS) and 7Geese (performance & engagement)
  • Despite being a full-featured HRIS, Paycor is one of the lowest cost options on the market
  • Paycor’s payroll module is one of their strongest tools and they provide comprehensive tax support services behind it
  • Paycor has made a large investment in support and implementation resources in the last six months, building out a new service office in Colorado
  • Paycor’s scheduling tools have developed significantly over the last few years
Weaknesses
  • 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
  • Although Paycor is investing in service, they faced a series of layoffs during COVID and haven’t fully re-staffed their support teams
  • Paycor’s user interface is straightforward and navigable but could use a more modern update
  • 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

Shopping for an HRIS? Work with an HRIS advisor to streamline your shortlisting, evaluations and selection - for free!

Integration Capabilities

Paycor integrates with most accounting systems and benefit carriers and provides those integrations during implementation. They also have experience working with most well-known players in those segments. Paycor can also build custom integrations with 3rd party HR tools via APIs but doesn't have the same expertise or marketplace partners as some of their peers

Free Tool: HRIS Requirements Builder

Global Capabilities

While Paycor can serve as a global system-of-record enabling international employees to onboard, complete performance reviews and manage leave, the Paycor team has primarily focused on serving domestic clients. Their support teams are all in the US and global payroll would require a 3rd party

Modules Offered
  • Payroll
  • Benefits Admin
  • HR / Employee Files
  • Time & Attendance
  • Onboarding
  • Recruiting
  • Learning
  • Performance
  • Engagement

Want more info on Paycor? Talk to an advisor about firsthand Paycor experience

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Brett Ungashick
Founder
Brett is the founder of OutSail. He spent the early part of his career selling HR software before switching sides and going to work for the people buying the software.

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