Our Verdict
Paycor is an HR and payroll solution that leaves no stone unturned. It helps small and medium businesses handle every step of the journey with employees from recruitment and onboarding to vacation time and benefits administration. It has the core features needed to stay compliant with the law like notice posters and tax filing for state & federal taxes. It also adds features that make your job easier such as a learning management system.
One of the most powerful tools provided by Paycor is the custom reports dashboard. You can pull data from different areas like HR, payroll, and time clocks to get a clear view of where your human capital should be allocated. While Paycor does bring a lot of useful features to the table, they don't come cheap. If you're not overly concerned with price then this is a solid platform that'll streamline your payroll and ensure your HR team is performing at its best.
Pros
Custom reports- Deeply integrated time & attendance tracking
- Extensive features to manage HR & payroll
- Benefits can be administered directly through the platform
Cons
No integrations with tools like Quickbooks- Many powerful features only available as add-ons
Products & Pricing
Paycor offers various plans & pricing for businesses with under 50 employees. Pricing isn't transparent, and they work with custom quotes.
Basic
The entry-level plan comes with the most important features you need to run payroll effectively. These include tax services, wage garnishments, multiple pay options, off-cycle pay runs, and check stuffing. Employees can access online check stubs and reports, while additional support is provided for local and state tax authorities. The plan also includes new hire filing, OnDemand Pay, Worker Opportunity Tax Credit management, and the AutoRun feature for streamlined payroll processing.
Essential
Paycor's Essential plan includes all the features of the Basic plan, plus advanced tools like labor distribution, job costing, and month-end accounting packages. It offers electronic custom data files, labor law posters, and a time-off manager. Additional features include 401(k) processing and integration, a premium-only plan, electronic GL, E-Verify service, and access to Paycor Recruit & Hire. The plan also provides Paycor Analytics and an HR Support Center for comprehensive HR management.
Core
Paycor's Core plan builds on the Essential plan by adding Paycor Expense Management, employee import capabilities, and Paycor HR tools. It also includes COR Leadership and Paycor Engage features, providing enhanced HR and leadership tools to further support your business operations and employee engagement.
Complete
The final small business plan continues to incorporate more features. It comes with everything from Essential but adds additional tools for employee growth and retention. It offers Paycor Career Management, Paycor Compensation Planning, and Paycor Talent Development, providing a comprehensive solution for managing careers, planning compensation, and developing talent within your organization.
The Paycor pricing schedule is more expensive than other payroll solutions available but it does bring a lot of features to the table. If you're not worried about the price, then it can make a huge difference in the efficiency of your payroll processes.
In-depth review
Features and Functionality
Paycor is one of the most feature-rich payroll and HR platforms on the market. It provides the major features you'd expect such as direct deposit, W-2 or 1099 forms, and tax compliance assistance. It also provides employee pay cards, an employee portal for self-service, and 401k integrations.
Custom reporting
The custom reporting features allows you to pull data from various places like time tracking, payroll, and HR to create reports that give you a holistic overview of your business. You can then slice and dice the data to get the insights needed to make smart labor decisions. It's not locked into your account, you can share reports with various stakeholders so everyone is on the same page.
Recruiting
It has in-built tools and smart integrations like Zoom to help you manage the entire recruitment process. Search resumes, send text messages to candidates, create and save interview scorecards, automate offer letters, and even collect signatures electronically.
Benefits administration
Paycor gives you the tools to integrate with your benefits providers and make it easy to enroll new employees, share pertinent information with the right people, and see analytics related to your benefits packages. It also helps you stay compliant with the IRS by generating and filing the necessary forms.
Employee onboarding
The platform allows you to set up a series of tasks that new employees need to complete and even automate form submission, signatures, and training.
Integrations & Add-ons
Paycor has many add-ons that make your HR team even more efficient and accurate. In addition to the add-ons provided there are multiple integrations with various services such as accounting software like Black Baud Financial Edge, rewards and recognition software, and compliance software.
Pulse Surveys
You're able to send out regular employee engagement surveys and get back a wealth of data that can be analyzed. The Pulse Surveys tool uses natural language processing to understand the sentiment behind what your employees say and translate that into insights you can use to improve morale correct course.
Learning management system
The LMS allows you to build structured training sessions for all your staff to access in the office or remotely. You can also compartmentalize the training for different groups or departments, see completion stats, and get feedback from employees within the LMS.
Time tracking
Time tracking and attendance is an integral part of any business. With this integration, you can create schedules, track overtime, PTO, allow mobile punching, pull reports into your main dashboard, and stay on top of labor costs.
Ease of Use
Surprisingly, Paycor has managed to create an intuitive platform even though it has a full range of features. Users often comment that they were able to get started quickly and learn the ropes. The company also provides webinars, a knowledgebase, and tutorials so you'll be able to find your way around the application and get unstuck when you run into issues. The advanced features can take some getting used to but the general features are simple to learn.
Customer Service
Paycor offers support to its customers in many ways so it's left for you to pick the one that works best for you. The team is well-trained and can handle most issues related to the software but they don't handle many questions about payroll laws - you'll have to speak to a designated expert for that.
Phone Support
Phone support is available during normal business hours for all customers.
Email
Email support is also available for all customers.
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Andrew is a freelance writer who has been crafting valuable pieces of content relating to personal finance for more than five years.
Asya specializes in evaluating small business financial & HR software solutions.
We make the best effort to present up-to-date information; however, the terms of each offer can be revised according to the service provider's discretion. The above shall not be considered as an expert or professional advice for any matter.
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