Paycor Review: Streamlining Payroll and HR for SMBs

Managing payroll and HR effectively is a constant challenge for SMBs. Most would agree that streamlining these critical functions would enable them to better focus on core business goals.

Well, Paycor aims to solve these pain points by offering an all-in-one HCM platform tailored to the needs of SMBs. Their solution promises to deliver automated payroll, HR tools, time tracking, and more through an easy-to-use system.

In this Paycor review, we'll provide an in-depth look at their key features and benefits, including:

• Overview of their HCM platform
• Core products for payroll, HR, and time tracking
• Mobile app capabilities
• Details on implementation, pricing, and fit

If you're looking to streamline payroll and HR, Paycor just may be the solution your SMB needs.

Introduction to Paycor

Paycor is a leading provider of payroll, human resources (HR), and other tools aimed at streamlining operations for small and medium-sized businesses (SMBs). Founded in 1990 and headquartered in Cincinnati, Ohio, Paycor serves over 40,000 clients across the United States.

Overview of Paycor

Paycor offers an integrated suite of products for managing payroll, time and attendance tracking, HR services, hiring and applicant tracking, and more. Their platform aims to automate administrative tasks to help SMBs reduce costs and free up time to focus on core business goals. Key features include:

• Automated payroll processing
• Time and attendance tracking
• HR management tools
• Hiring and applicant tracking system
• Accessible via desktop and mobile apps

Led by CEO Raul Villar Jr., Paycor has over 2,000 employees and processes payroll for over 1 million employees nationwide each year.

Key Benefits for SMBs

Paycor provides the following key benefits tailored to SMBs' needs:

• Save time by automating payroll, tax filings, and other administrative HR tasks
• Reduce costs associated with manual processes and increase tax credit savings
• Improve compliance with changing regulations through integrated tools
• Enhance employee experiences with self-service apps and streamlined onboarding
• Gain analytics and insights into workforce costs, overtime, retention and more

Integrations and Partnerships

Paycor seamlessly integrates with top SMB platforms like QuickBooks and Xero for accounting, BambooHR for enhanced HR capabilities, and various applicant tracking systems.

They also partner with organizations like the National Association for the Self-Employed (NASE) to provide exclusive discounts and resources for members.

Core Paycor Products and Services

Paycor offers a suite of integrated HR, payroll, timekeeping, and talent management solutions designed specifically for SMBs. Their core products and services include:

Automated Payroll Management

Paycor automates every aspect of payroll processing. Key features include:

• Payroll tax filing: Automatically calculate, deposit, and file payroll taxes. Ensure compliance with federal, state, and local regulations.

• Payroll reports: Generate, export, and customize reports detailing payroll costs, taxes, deductions, hours, etc.

• Pay calculation: Compute gross and net pay, factoring in salaries, hourly wages, overtime, bonuses, commissions, and more.

• Direct deposit: Deposit employee pay automatically on payday. Employees can use Paycor’s self-service portal to view pay stubs online.

By streamlining payroll tasks, Paycor saves SMBs time and ensures accuracy and compliance.

HR Tools and Support

Paycor centralizes HR management with tools for:

• Onboarding: Digitally onboard new hires by collecting paperwork, running background checks, and tracking onboarding tasks.

• Benefits admin: Manage health insurance, retirement accounts, paid time off accruals, and other benefits in one dashboard.

• Talent management: Performance reviews, goal setting, succession planning, and other features for nurturing talent.

• Workplace management: Maintain employee records, organizational charts, and compliance documentation.

With Paycor’s HR suite, essential workforce management tasks are simplified for SMBs.

Time and Attendance Tracking

Paycor enables businesses to:

• Track hours worked: Employees can clock in/out via web portal, mobile app, or integrated time clocks. Managers have visibility into schedules and actual hours worked.

• Manage schedules: Create and adjust schedules while ensuring proper coverage. Accommodate shift swapping, time-off requests, and more.

• Enforce policies: Configure overtime policies, notify managers of exceptions, and ensure labor law compliance.

• Optimize labor costs: Make data-driven staffing decisions based on demand patterns over time.

By connecting payroll, HR, and timekeeping in one unified platform, Paycor allows SMBs to maximize productivity and cost efficiency.

Paycor Mobile Apps

Paycor offers several mobile apps to provide employees and managers convenient access to payroll, time tracking, and HR information on the go.

Features for Employees

Paycor's employee app enables workers to:

• View payslips and tax documents
• Track timecards and submit requests for time off
• Receive notifications about shift changes or new messages
• Access company news, events, and directories

The intuitive interface makes it simple for employees to view their schedule, punch in and out, and submit time-off requests without having to log into multiple systems. This empowers workers with visibility and control over their work information.

Features for Managers

For managers and supervisors, Paycor provides additional capabilities to:

• Approve or deny time-off requests from their direct reports
• Access real-time analytics on team hours and overtime
• Manage schedules and assignments for staff
• Track employee hours and ensure accurate time reporting
• Stay updated on key HR changes within their department

By consolidating these administrative tasks into a single mobile platform, Paycor enables managers to save time while still maintaining visibility into their team. The apps facilitate seamless shift scheduling, hour tracking, and communication to streamline workforce management.

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Paycor Implementation Process

Paycor offers a straightforward implementation process to get businesses set up quickly. Here are the key steps:

Initial Setup and Configuration

When first adopting Paycor, clients complete the following to ensure proper configuration:

• Data sync - Import employee information, pay rates, org structure, etc into Paycor system
• System connections - Integrate payroll with existing HRIS, accounting software, etc
• Customization - Tailor settings, workflows, reporting as needed for the organization
• Testing - Validate accuracy of data, system functionality before go-live

Paycor project managers assist with data migration, configuration, and testing to guarantee no disruption.

Ongoing Support Options

Paycor provides ongoing support through:

• Dedicated account manager - Acts as main point of contact for questions and guidance
• Payroll specialist team - For specialized assistance with complex payroll issues
• Online support center - Knowledge base, chat, email ticketing for self-service help
• Proactive system updates - Automatic improvements to platform and new feature releases
• Premium support - For large or complex organizations that need expanded service levels

By leveraging Paycor's account manager partnership and flexible support tiers, clients can optimize usage of payroll and HR tools.

Pricing and Billing Structure

Per Employee Fee

Paycor charges clients on a per employee per month basis. Pricing ranges from $2-$12 per employee depending on company size:

• 1-9 employees: $8 per employee per month
• 10-49 employees: $6 per employee per month
• 50-99 employees: $5 per employee per month
• 100+ employees: $4 per employee per month

There are no contracts or setup fees. Pricing includes payroll processing, tax filings, HR tools, mobile access, and support. Additional fees may apply for extras like workers comp administration or ACA compliance services.

Additional Fees/Discounts

Paycor offers discounts for annual subscriptions paid upfront. Nonprofits and religious organizations can receive 10% off standard pricing. Referral partners may also offer special promotional pricing for Paycor services.

Some add-ons that incur extra fees include:

• Employee screening services: $3 per screen
• 401k administration: $6 per participant per month
• Workers comp tools: $1 per employee per month

So while base payroll and HR is covered in the per employee charge, clients can elect to pay more if they want access to Paycor's full suite of value-added services.

Conclusion and Recommendations

Paycor is an excellent option for SMBs looking to streamline critical HR and payroll workflows. Here are the top reasons to choose Paycor:

Top Reasons to Choose Paycor

• All-in-one platform consolidates payroll, HR, timekeeping, and other tools
• Easy self-onboarding and intuitive interface
• Dedicated account manager provides white-glove support
• Seamless integrations with popular software like QuickBooks and Office 365
• Scalable solution grows alongside your evolving business needs

Best Fit Businesses

Paycor is ideal for SMBs that:

• Have between 50-1000 employees
• Seek an automated, accurate payroll solution
• Want self-service HR tools like applicant tracking, onboarding, and performance management
• Need strong reporting, compliance, and data security features
• Desire a strategic technology partner as the business expands

With robust features, responsive support, and value-driven pricing, Paycor empowers lean SMBs to remove administrative burdens and refocus on their real passion - growing their business.

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