What Is Paycor?
Paycor is a publicly traded HR company that previously raised more than $250 million in funding and currently serves more than 2 million users. It’s more than a payroll service because it offers support in so many areas that HR departments need. You can add on benefits administration, time tracking and career and talent development features.
Pros
One of the reasons Paycor makes the cut for best payroll services for small businesses is because it offers multiple paid plans, so it’s a scalable solution. The unlimited payroll runs help if you have different payroll schedules or need to run a one-off payment. The self-serve portal (and mobile app) for employees reduces the workload on the HR department and gives employees more autonomy for choosing benefits, requesting time off and viewing pay stubs. On-demand pay isn’t always present in payroll services, so it’s a valuable benefit of choosing Paycor.
Cons
Paycor can be a complete HCM solution, but time tracking is an add-on. Plus, its pricing makes it best suited for medium to large businesses. You should also keep in mind the added fees for various situations, such as paycheck rollbacks, tax corrections and check copies. Paycor typically charges a setup fee for most plans but also offers promotions often that may allow you to waive that fee, so keep an eye out for that.
Featured Partners
1
Justworks
Yes
Yes
$50/month + $8/user
2
SurePayroll
Yes
Yes
$29.99/mo plus $5 per employee
3
OnPay
Yes
Yes
$40 per month + $6 per user
4
Rippling
Yes
Yes
$35 per month + $8 per user
5
Gusto
Yes
Yes
$40 per month plus $6 per user
How Paycor Works
Paycor provides small to midsize businesses with a single platform to conduct all HR tasks from onboarding and payroll to expenses and talent development. The portal for the employer or HR department lets you manage your org chart, post company news and get updates on new hires and the onboarding process. You can also run payroll, set up benefits administration and manage open roles and expenses from Paycor.
Employees get a self-serve portal so they can view internal announcements, view pay stubs, manage their own benefits and paperwork and request time off. With the Paycor mobile app, employees can also see notifications about upcoming events, such as performance reviews, electing benefits and other tasks.
What Sets Paycor Apart
Paycor straddles the line between payroll app and human resource information system (HRIS) as an HCM. It handles more than payroll, but not quite as much as an HRIS, which makes it a great fit for small to midsize businesses. Paycor’s on-demand pay is a unique feature that not all payroll or HCMs offer, which allows employees to decide when they get paid (per day, per week, bimonthly, monthly, etc.).
Being able to offer on-demand pay is one perk that can attract new employees or work toward retention. The self-service employee portal and mobile app let workers decide how and when they get paid and have autonomy over benefits and the ability to clock in from their mobile devices.
Paycor Features
Payroll may be the main feature of Paycor, but it’s become an amalgamation of tools and features to help HR departments manage tax filing, recruitment, career and talent management and onboarding. The self-service portal for employees reduces an HR team’s workload and gives employees access to available funds for on-demand pay, visibility of pay stubs and control over benefits election.
Ease of Use
Paycor works similarly to most software in that it has an intuitive dashboard with a left-hand and top menu for navigation. It’s easy to figure out what each category is to access the tools or features you need. Onboarding is set up so employees can easily fill out forms and HR teams can organize the info as needed.
The mobile app is equally easy to use. After logging in to your profile, you can access what you need through the three-line hamburger menu. You can turn on notifications to get reminders of upcoming events or tasks you need to complete and clicking on each one takes you to the appropriate space to do them.
Compliance
As is the case with most payroll services, Paycor offers multiple ways you can protect your business through tax and regulatory compliance. Using Paycor for time and attendance plus payroll can help you track employee hours and keep a trail for any future audits. There are also recruiting laws in place to protect prospects from discrimination. You can benefit from Paycor’s compliance reporting to help ensure you follow the laws and regulations.
On top of the accurate timekeeping and tax updates, Paycor offers reminders for compliance for recruiting, tax filing and payroll. You can also use analytics to show how you’re staying compliant with equal pay, exemptions, paid leave programs and diversity.
Onboarding
Paycor offers an easy way to onboard new employees. All the necessary paperwork can be filled out online. Collect personal information, tax forms and direct deposit without having to track paper forms. You can also add a welcome message for new hires. Using the onboarding feature from Paycor makes it easy for you to keep track of all the necessary documents and new staff to get started.
Tax Filing
When you choose payroll software, such as Paycor, you’re also getting tax services. The software and company handle tax calculations, filing and payments so you don’t have to. Additionally, Paycor takes care of sending out W-2 and 1099 forms, as needed.
Time Tracking
Paycor combines a lot of HR functionality in one program, but time tracking is still an add-on feature. Paycor Time lets your employees clock in and out for work through a browser or a mobile app. You can create employee schedules and easily view everyone’s attendance from your dashboard. Employees can track paid time off (PTO) and request it from their personal dashboards and you can run reports to see how much you’re spending on labor or overtime.
Benefits Administration
Paycor offers a benefits administration feature called Benefits Advisor. The dashboard for admins shows you a variety of information, including recent activity, graphs or charts with recent data, alerts or notifications and your bookmarked sections. Paycor’s benefits feature automates open enrollment based on a new hire’s start date.
Employees can view plans and elect for specific benefits that your company offers. As they choose from medical, dental, vision and basic life insurance, they’ll see a running total of how much benefits will cost them per pay period.
Analytics and Reporting
There are several pre-built reports in Paycor that you can use to visualize specific types of data to help inform important decisions. View turnover rates, overtime and pay gaps, for example. Knowing why employees are leaving and which departments are most affected can help you turn your attention to those areas to prevent a higher exit rate.
You can also choose to view data sets in different ways. Create trend charts, tables, bubble grids and breakdowns. You’re only limited by the data you have. Paycor lets you choose to isolate specific data, such as income, labor costs or head counts.
Accessibility
Paycor is available as a browser-based application or as a mobile or tablet app. It works on the latest versions of Firefox, Chrome, Safari and Microsoft Edge (on Windows 10). For tablets and mobile devices, download the app for Apple iOS or Google Android.
Paycor Pricing and Plans
There are four plans for small businesses: Basic, Essential, Core and Complete. These plans are intended for businesses with 50 or fewer employees. Regardless of whether you have 50 or 500 employees, you’ll have to contact the Paycor sales team for a custom quote.
| Basic | Essential | Core | Complete | |
|---|---|---|---|---|
| Third-Party Integrations | ClearStar, PayFlex, Aflac, Epicor, LinkedIn, and Oracle | 253 | 253 | 253 |
| Starting Price | Custom quote | Custom quote | Custom quote | Custom quote |
| U.S. Payroll | ✔ | ✔ | ✔ | ✔ |
| Tax Filing | ✔ | ✔ | ✔ | ✔ |
| Workflow Automations | ✔ | ✔ | ✔ | ✔ |
| Onboarding | X | ✔ | ✔ | ✔ |
| Expense Management | X | X | ✔ | ✔ |
| Error-Free Guarantee | X | X | X | X |
| Benefits Administration | Add-on | Add-on | Add-on | Add-on |
| Time Tracking | Add-on | Add-on | Add-on | Add-on |
| Reporting and Analytics | Standard | Advanced | Advanced | Advanced |
| Mobile Apps | iOS and Android | iOS and Android | iOS and Android | iOS and Android |
| Customer Support | Email and phone (8 a.m. to 8 p.m. Eastern time Monday through Friday) | Email and phone (8 a.m. to 8 p.m. ET Monday through Friday) | Email and phone (8 a.m. to 8 p.m. ET Monday through Friday) | Email and phone (8 a.m. to 8 p.m. ET Monday through Friday) |
Basic
The Basic plan covers automated payroll, federal and tax filing, a self-serve employee portal and a mobile app for both employees and employers. Paycor also offers on-demand pay, so employees can get paid when they want, rather than wait two weeks until payday.
Essential
If you need more compliance management, consider the Essential plan. You’ll get onboarding support (via the self-serve employee portal), document templates, training and labor law poster access. This is also the plan that offers workers’ compensation coverage and deductions, 401(k) processing and recruitment tools.
Core
The Core plan includes everything from the Basic and Essential plans, plus access to an HR professional, expense management and Paycor’s career management features.
Complete
The Complete plan offers all the features of the three other plans and includes compensation planning, advanced analytics, talent development features and Paycor paths, which is leadership training.
Paycor Customer Service and Support
Paycor offers three avenues for support: chat, phone and support center. Most support services are kept locked behind a login, so you must have a Paycor login to access customer support via phone and the support center. Employees can get answers to commonly asked questions in that specific center. There are videos to help you set up your account, articles to help with onboarding and answers about how to request time off, for example.
Additional Features Worth Noting
There are often special offers that allow you to waive setup fees or save 50% from your monthly cost. Each plan’s pricing is custom, though, so there’s no way to tell how much you’d be saving.
Perhaps the two biggest standout features of Paycor are its mobile app and on-demand pay support. The mobile app is meant for both an employer and employees, so you can approve payroll from your phone, and workers can see their salary and tax info from the app. The on-demand pay option allows workers to choose when they get paid for work done.
Payroll Solutions Tailored To Your Business Goals
Paycor Alternatives and How They Compare
Paycor offers more than basic payroll features, which sets it apart from its competitors, OnPay, Gusto and Wave Payroll, but it may be at a higher price. None of the payroll services offer general ledger reports, but OnPay and Gusto sync with QuickBooks, so you can avoid mistakes when handling bookkeeping and payroll. Paycor offers a GL integration, but only with one accounting software (Blackbaud Financial Edge NXT). You can get analytics on Paycor, but only on its highest-priced plans, while OnPay gives you access to all of its features at one price.
| Paycor | Gusto | OnPay | Wave Payroll | |
|---|---|---|---|---|
| Forbes Advisor Rating | | | | |
| Starting Price | Custom quote | $40 per month, plus $6 per person per month | $40 per month, plus $6 per person per month | $20 per month for self-service states or $40 per month, plus $6 per person per month |
| U.S. Payroll | ✔ | ✔ | ✔ | ✔ |
| Global Payroll | ✔* | ✔ | X | X |
| Onboarding | X | ✔ | ✔ | X |
| Tax Filing | ✔ | ✔ | ✔ | X |
| Benefits Administration | Add-on | ✔ | ✔ | X |
| Time Tracking | Add-on | Integration | Integration | ✔ |
| Expense Management | X | Integration | X | ✔ |
| Workflow Automations | ✔ | X | X | X |
| Mobile Apps | iOS and Android | iOS and Android | iOS and Android | X |
| Reporting and Analytics | Standard | Standard | Advanced | Standard |
| Third-Party Integrations | ClearStar, PayFlex, Aflac, Epicor, LinkedIn, and Oracle | QuickBooks, Sage, Expensify, 15Five, Shopify, 7Shifts, and Homebase | When I Work, QuickBooks, Xero, Vestwell, and Poster Elite | Zapier |
| Error-Free Guarantee | X | X | X | ✔ |
| Customer Support | Email and phone (8 a.m. to 8 p.m. Eastern time Monday through Friday) | Email, live chat and callback (9 a.m. to 4 p.m. Pacific time Monday through Friday) | Email, live chat and phone (9 a.m. to 8 p.m. ET Monday through Friday) | Email and live chat (9 a.m. to 5 p.m. ET Monday through Friday) |
| Learn More | – | |||
| Read Reviews | – |
Paycor vs. Gusto
When you compare the entry-level plans for Paycor and Gusto, you may find that Gusto offers a bit more value with its built-in onboarding features. However, both services can handle U.S. and international payroll and automatic tax filing. Where Paycor and Gusto differ is in how they manage benefits, expenses and time tracking. Paycor offers add-on features, while Gusto offers integrations.
Paycor vs. OnPay
The biggest differences between Paycor and OnPay are in the extraneous features, such as global payroll, expense management and workflow automation. Paycor handles all of those features, while OnPay does not. You do get more access to customer support with OnPay with more avenues for support and longer hours. Given historical pricing information, Paycor is likely pricier than OnPay, though.
Paycor vs. Wave Payroll
Comparing Paycor to Wave Payroll is a bit tricky because Paycor is much more than a payroll service. Although Wave Payroll is affordable, it doesn’t offer onboarding, benefits or automatic tax filing for most states (it relies more on manual tax filing), while Paycor does. Wave Payroll does offer an accuracy guarantee, which is rare among tax services.
Is Paycor Right for Me?
Paycor isn’t a standard payroll service—it’s an HCM that provides more features and tools for HR teams to use, such as onboarding, career and talent management and on-demand pay. Its custom pricing doesn’t give you a clear view of how much you’ll pay for the extras, but historical pricing suggests it’s far more expensive than most payroll software on the market.
Paycor Is Best For:
- Small to midsize businesses (SMBs) that need automated payroll services plus benefits administration and onboarding tools. It’s a good option when you need more than payroll but less than a full HRIS.
Paycor Is Not Recommended For:
- New or super small businesses on a budget. Paycor offers a lot of customization in its plans, so you can add on the features and tools you need, but you may find that you’re paying for more than you need.
Our Expert Opinion
Paycor is a unique payroll service in the industry because it isn’t quite an HRIS, but it offers far more utility than typical payroll software. The on-demand pay option is a big benefit for your employees if they want to be paid more often and could contribute to less attrition.
The custom pricing is a great way to ensure you get precisely what you need for the size of your business, but the lack of transparency in cost makes it difficult to compare Paycor to other payroll services you may want to use instead. It’s also worth noting that Paycor charges a lot of additional fees for check stuffing and general ledger integration, for example.
Frequently Asked Questions (FAQs)
What is Paycor?
Paycor is an all-in-one payroll service, HR information system (HRIS) and HCM solution. The cloud-based software company helps small businesses manage onboarding, taxes and compliance.
How do I do payroll on Paycor?
After you’ve set up everything in your Paycor account and employees have added their tax information, you can choose a pay schedule and approve hours worked. If you use Paycor’s time-tracking app, the data syncs automatically, otherwise you’ll have to enter hours manually. Payroll is handled automatically by Paycor—check the dashboard and final figures before you run payroll.
Who are Paycor’s competitors?
Paycor has multiple competitors, depending on what you’re comparing. Some of the best payroll services that count as Paycor competitors include OnPay, Gusto and ADP RUN. As an HRIS, Paycor alternatives include Paycom, Paychex Flex and Justworks.
What type of HR features should a payroll system have?
Payroll systems should be able to make the onboarding and termination of employees, monthly payments, off-cycle disbursement and taxation compliance easier. This includes factors like employees being able to fill out W-4 forms electronically and having access to a self-service portal that allows them to access all necessary forms, make any changes that they need and view documents like pay stubs. The best payroll platforms also offer HR support around health insurance plans and other benefits and provide new hire reports when needed.
What features should a payroll service for small businesses have?
The features you want in a payroll service for your small business include one that is simple to set up, provides payroll processing and management, makes it possible to do tax filing, creates detailed payroll reports, offers direct deposit to your employees, allows employees to make certain changes as needed, and offers quality customer support.