Paycor Payroll is a cloud-based payroll software platform designed to help businesses of all sizes streamline their payroll process and manage their workforce more effectively. It offers a wide range of features, including payroll processing, tax filing, time tracking, HR benefits administration, and more.
It is a popular business choice because it is easy to use, affordable, and reliable. Paycor Payroll offers a number of features that are not typically found in other payroll software solutions, such as a dedicated mobile app and integration with popular accounting software programs. The question, however, is, “Is this a good fit for your business?”
Let’s find out as we cover the features, pricing, alternatives, and every vital piece of information you’ll need about this solution to help you make an informed decision.
What is Paycor Payroll?
Paycor Payroll offers small businesses much more as a full-service human capital management (HCM) solution than just a payroll service.
Even the entry-level package comes with automated payroll, a mobile app for you and your staff, and customized reports for your company.
Additionally, it provides information on new hires and electronically uploads tax forms. You have access to benefits, HR tools, and compliance help with the more expensive plans.
Employer Interface
Paycor’s payroll software covers all the fundamentals, including ledger integration, employee self-service, and reporting templates. Employees may view pay stubs, W-2 documents, and benefit details through a dedicated Paycor smartphone app, and they can be paid via direct deposit or pay cards.
Additionally, they have three days to check their pay stubs before payment is made, allowing them time to ask that any inaccuracies be fixed. Additionally, benefit enrollment, time off requests, and conversations among coworkers are supported by the employee mobile app.
What Paycor Does
Paycor gives small to midsize enterprises a centralized location to manage all aspects of HR, including payroll, onboarding, costs, and talent development. You can modify your organizational chart, post-corporate news, and obtain updates on new hires and the onboarding procedure through the site for the employer or HR department.
From Paycor, you can also manage available positions and expenses, conduct payroll, and set up benefits administration.
Furthermore, a self-serve portal is provided to employees so they can handle their own benefits and paperwork, access internal announcements, view pay stubs, and request time off. Employees can access notifications for impending tasks like performance reviews, benefit selection, and other events with the Paycor mobile app.
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What Makes Paycor Unique
In its capacity as an HCM, Paycor sits somewhere between a payroll application and an HRIS. It is a fantastic fit for small to midsize enterprises because it handles more than payroll but not nearly as much as an HRIS. With Paycor’s on-demand pay, employees may choose how often they get paid (per day, per week, biweekly, monthly, etc.), which is a unique feature that not all payroll or HCM systems provide.
Offering on-demand pay is one benefit that might draw in new workers or help with employee retention. Employees may control how and when they get paid, as well as their benefits and ability to clock in from their mobile devices, thanks to the self-service employee site and mobile app.
Features of Paycor Payroll
Paycor’s primary function may be payroll, but it has evolved into a collection of tools and capabilities to aid HR departments in managing tax preparation, hiring, career and talent management, and onboarding. Employees can access available money for on-demand pay using the self-service portal, which also gives them access to pay stub visibility and control over benefit selection. This decreases the workload of the HR team.
#1. Effortless Use
Paycor has an intuitive dashboard with a left-hand and top menu for navigation, and it functions similarly to most applications in this regard. To obtain the tools or features you require, it is simple to understand what each category entails. Employees can quickly fill out forms during onboarding, and HR staff can organize the data as necessary.
Using the smartphone app is just as simple. The three-line hamburger menu is where you can find anything you need after signing into your profile. You can enable notifications to receive alerts about forthcoming occasions or chores you need to finish, and clicking on each one directs you to the relevant location.
#2. Compliance
Paycor offers a variety of options to protect your organization through tax and regulatory compliance, as is the case with most payroll systems. You can maintain track of employee hours and create a paper trail for any future audits by using Paycor for payroll, time and attendance, and time tracking. Additionally, laws are in place to prevent discrimination in hiring. Paycor’s compliance reporting can be useful to you in making sure you abide by the rules and regulations.
Paycor delivers compliance reminders for hiring, tax filing, and payroll on top of precise timekeeping and tax updates. Analytics can also be used to demonstrate how you are maintaining compliance with diversity, paid leave policies, exclusions, and equal pay.
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#3. Onboarding
Paycor provides a simple onboarding process for new hires. Online forms are available for all required documentation. Without needing to keep track of paper forms, collect personal data, tax forms, and direct deposits. For new hires, you can also include a welcoming message. Utilizing Paycor’s onboarding tool makes it simple for you to keep track of all the paperwork and new hires who need to be onboarded.
#4. Filing Taxes
You also get tax services when you pick payroll software like Paycor. You don’t have to worry about tax computations, filing, or payments because the software and firm manage everything. Paycor also handles the distribution of W-2 and 1099 forms as required.
#5. Time Monitoring
Time tracking is still an optional feature in Paycor despite the program’s extensive integration of HR features. Your employees may clock in and out of work using a browser or a mobile app with Paycor Time. From your dashboard, you can quickly view everyone’s attendance and create personnel schedules. From their individual dashboards, employees may track paid time off (PTO) and request it, and you can run reports to see how much you’re spending on labor or overtime.
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Benefits of Paycor Payroll
#1. Benefits Management
Benefits Advisor is a Paycor service for managing benefits. You can view current activity, graphs or charts with recent data, alerts or notifications, and your bookmarked sections on the admin dashboard. The benefits function of Paycor automates open enrollment based on the start date of a new hire.
Employees can browse programs and choose from among particular advantages that your business provides. They will see a rolling tally of the cost of benefits for each pay period as they select among medical, dental, vision, and basic life insurance.
#2. Workforce Administration
Tools for time tracking and scheduling are available through Paycor. For entering time sheets, the platform provides a web-based timekeeping tool. On the smartphone app, workers may also clock in and out. Businesses can track hours worked, paid time off, and labor allocation with the aid of timekeeping systems.
#3. Reporting and Analytics
Paycor offers a number of pre-built reports that you may use to visualize particular sorts of data in order to assist with making crucial decisions. See, for instance, turnover rates, overtime, and compensation disparities. It can be helpful to focus your attention on those areas to stop a higher exit rate if you are aware of the reasons why employees are leaving and which departments are most impacted.
Additionally, you have the option to view data sets in several ways. Make bubble grids, breakdowns, tables, and trend charts. The only constraint is the information you have. You can opt to isolate particular data with Paycor, such as earnings, labour costs, or head counts.
#4. Worker Surveys
With the Pulse surveys function, Paycor can help you not only assess your current statistics but also get valuable information and employee feedback. A one-question Pulse survey for rapid response on a particular topic, a 15-question employee engagement survey, and a six-question benefits survey are the three survey templates provided by Paycor. It is simple to get feedback using these templates. Owners of businesses and HR departments can also design a survey from scratch to address particular queries or issues.
#5. Accessibility
A smartphone or tablet app and a browser-based version of Paycor are accessible. The most recent releases of Microsoft Edge (on Windows 10), Firefox, Chrome, Safari, and Safari all support it. Download the app for Apple iOS or Google Android for tablets and mobile devices.
#6. Expense Control
The direct inclusion of expense management in HR software is uncommon; instead, it frequently necessitates a third-party interface. Paycor, however, adopts a more coordinated strategy. Employees can enter valid expenses into the system immediately using Paycor’s expense management tools. Then, managers may quickly approve them, and payroll managers can file a reimbursement request.
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Paycor Payroll Pricing
For companies with fewer than 50 employees and those with between 50 and 1,000 employees, Paycor offers plans. We like that it, unlike some of the competitors we looked at, does not call for a minimum number of employees.
There are four tiers to pick from if you need a small business HR plan for fewer than 50 employees:
#1. Basic
Businesses can use Paycor’s automated onboarding, payroll and tax services, HR management tools, and compliance support for $99 per month + $6 per employee each month.
#2. Essential
This plan includes everything in the Basic plan, as well as features for time and attendance, new-hire onboarding, e-verification, HR checklists, templates, and reporting, for a monthly cost of $159 plus $9 per employee.
#3. Core
For $199 per month + $12 per employee per month, this plan offers all the capabilities of the Essential plan in addition to automated workflows, employee directories, organizational charts, scheduled reminders, HR analytics and benchmarks, pre-built dashboards, and a plethora of performance management tools.
#4. Complete
This plan offers access to everything in the Core plan as well as advanced HR features like scheduled reports, payroll analytics, general ledger reporting and integrations, 360-degree 401(k) EDI integration, and one-on-one guidance from a certified HR professional for $299 per month plus $16 per employee per month.
This is allegedly Paycor’s most well-liked plan. It’s important to note that Paycor was waiving setup fees for these plans at the time of this review but that the Essential, Core, and Complete plans included one-time setup fees that ranged from $59 to $199, depending on the plan tier selected.
What is Paycor Payroll?
Paycor gives small to midsize enterprises a centralized location to manage all aspects of HR, including payroll, onboarding, costs, and talent development. You can modify your organizational chart, post-corporate news, and obtain updates on new hires and the onboarding procedure through the site for the employer or HR department.
What is Paycor payroll Software Used for?
Paycor gives small to midsize enterprises a centralized location to manage all aspects of HR, including payroll, onboarding, costs, and talent development.
What Kind of Company is Paycor payroll?
Paycor is a comprehensive solution that combines a payroll service, an HRIS, and human capital management (HCM).
How Many Companies Use Paycor Payroll?
Over 4,000 consumers use Paycor, the majority of whom are Americans.
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Conclusion
Paycor gives leaders the tools they need to modernize all facets of human resource management to concentrate on what truly counts: creating successful teams. You won’t ever need to transfer platforms, access various systems, or re-key information because the unified HCM solution ensures employee data is in one location. Automate laborious tasks, reduce compliance risk, increase efficiency, give staff members more financial influence, and develop deeper employee relationships.
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