Paycor HR Software Review

Why Paycor Is Best for Reporting and Analytics

Paycor offers extensive reporting and analytics features that allow business owners and HR managers to drill down into specific data about their employees, including feedback and surveys, diversity initiatives and company culture expectations. We appreciate how customizable the reporting options are. The analytics data is presented in helpful visual formats as well, which makes the information easier to understand and share.

Paycor offers analytics features designed to help organizations tackle some of the most pressing issues right now, such as employee turnover and creating an inclusive workplace. With predictive analytics, Paycor can help employers project future turnover rates and identify the employees who are most at risk of leaving. We also found the diversity, equity and inclusion (DE&I) reporting tools effective and thorough when we tested them during our product tour. The reporting provides clear, actionable insights that we feel would help employers improve their DE&I initiatives in a meaningful manner.

Paycor is a human resources outsourcing (HRO) company, meaning it allows businesses to pick and choose specific HR functions it wants to outsource, and pay for them a la carte or via service bundles. It is not a professional employer organization (PEO), a model under which a business would outsource most or all of its HR functions (usually including benefits administration) to the partner and enter into a co-employment agreement. If you’re looking for a full-service PEO partner, we recommend checking out our Insperity review.

Usability

Paycor’s HR software is user-friendly and easy to navigate. We particularly liked that the software allows users to customize their homepage, enabling each user to personalize their experience and put the tools that are most relevant to their role front and center.

Paycor does a great job at providing high-level HR tools in a simple user interface (UI). The platform guides you through complicated processes, such as employee onboarding and the creation of complex analytical reports. Paycor provides helpful tips that are built into the UI. For example, the company provides resources on how to properly classify employees so that a business owner does not accidentally make a costly error while onboarding a new hire. 

The analytics tools are similarly easy to navigate by answering basic questions to create advanced reports, such as one that can help predict employee turnover risk. The final reports are displayed in a clear visual format so that anyone in the company can understand the data. We consider this very important, as many small businesses do not effectively utilize their data because of the steep learning curve associated with data analysis, especially when you’re trying to do it in a spreadsheet.

Paycor integrates well with popular benefits, retirement, background check and hiring tools. We recommend checking out the Paycor Marketplace to see if your preferred vendors offer integrations with Paycor. There are currently more than 320 apps in the marketplace, although some popular tools are notably missing from the list. 

If you would like to try out the platform’s UI for yourself, check out Paycor’s guided tour option on the company’s website. 

Paycor Features

Analytics and Reporting

Paycor provides advanced tools that give business owners real-time insights and valuable industry data for benchmarking. Users can create customized dashboards for quick access to the most relevant data for their current business needs or areas of focus. The reporting function includes access to a variety of standard reporting templates as well as customizable reporting capabilities.

In addition, Paycor’s analytics feature can provide a detailed workforce compensation breakdown and analyze the impacts of employee absences on productivity. You can customize your analytics homepage, so the data that matters most to you is easily accessible.

Paycor also uses a predictive data model to help businesses assess turnover risk and labor costs. Paycor’s predictive data model, Paycor Analytics, can forecast turnover over a 12-month period. It can even tell you exactly which employees have the highest probability of leaving, which gives employers a great opportunity to conduct stay interviews or otherwise intervene to mitigate potential turnover. We appreciate these practical and actionable insights.

Employee Surveys

In addition to helping you analyze your current data, Paycor can assist you in collecting helpful data and feedback from your employees with the pulse surveys feature. Paycor offers helpful employee survey templates including a one-question pulse survey for quick feedback on a specific issue, a 15-question employee engagement survey, a six-question benefits survey and a leadership survey to gauge how well your managers are performing. These templates make it easy to collect employee feedback, and we also appreciate the mobile-friendly feature that makes it convenient for employees to respond on the go. Business owners and HR teams can also create a survey from scratch to address different questions or concerns. From their executive dashboard, leaders can get immediate insight into survey participation and their employees’ feedback. Dashboard insights make it easy to analyze the data and share it with other leaders.

Payroll

Paycor’s payroll processing tools help guide users through the process. Paycor’s Intelligent Tax Recommendations feature can calculate payroll tax withholdings and other deductions automatically based on the data entered during onboarding and the benefits selections made. This tool provides tax recommendations for each employee based on where they live and work, a useful feature for companies filing payroll taxes in multiple states. It also provides compliance dashboard alerts to flag potential problems.  Paycor also offers an AutoRun option that allows payroll administrators to set payroll to run automatically at regularly scheduled dates, which can lighten the administrative load for HR professionals.

Benefits Administration

Paycor can help businesses and employees navigate employee benefits during new-hire onboarding and annual open enrollment. Overall, we found the company’s benefits offerings to be comparable to those of other HR software we reviewed. The benefits enrollment process is user-friendly, and Paycor can help employers shop for competitive benefits packages. Benefits Advisor, a centralized benefits dashboard, allows users to edit information, add life events, view benefits information and start open enrollment. Paycor’s decision support tech Ask Emma, powered by artificial intelligence (AI) and Natural Language Understanding (NLU), offers personalized benefits recommendations and real-time enrollment support for employees. Employees can easily enroll on the go with the Paycor mobile app, and Paycor’s open enrollment wizard helps streamline the enrollment process for admins. Paycor also syncs seamlessly with more than 300 third-party apps, including benefits providers.

We appreciate the Affordable Care Act (ACA) reporting and compliance tool. Paycor’s ACA software helps businesses prepare, generate and file required forms, like 1094-C and 1095-C, for benefits compliance. It also helps employers ensure that the plans they are offering are ACA-compliant.

Workforce Management

Paycor’s workforce management tools include scheduling and time and attendance tools. The platform offers a web-based timekeeping tool for timesheet entry, and Paycor’s TimeClock solutions offer hardware options like keypads, badge readers and facial recognition tech or a mobile solution by syncing with an Android tablet. Alternatively, workers can use the mobile app to clock in and out. The timekeeping tools help businesses track time off, hours worked and labor distribution, and it also supports geo validation so you can keep track of your employees’ whereabouts.

In addition, Paycor offers scheduling tools to help managers assign shifts to employees to maintain proper coverage. The software allows administrators to set scheduling rules based on employee availability and required rest periods between shifts. You can also use the scheduling tools to track daily labor costs. An AI feature allows managers to analyze trends for things like overtime and time off. We appreciated customization features that allow managers to set break rules, create open shifts that need to be filled, assign staff to different locations and view shift trading trends.

Expense Management

Expense management is not commonly included in HR software directly; it often requires a third-party integration. However, Paycor takes a more unified approach. Paycor’s expense management tools allow employees to enter eligible expenses directly into the system. Managers can then easily approve them, and payroll administrators can remit reimbursement. Employers can track expenses by category and user, and managers can receive real-time alerts to approve expenses on the go.

Paycor uses OCR technology that extracts information from pictures of receipts to populate in expense reports, saving you time. You can also import corporate credit card data to convert to expense items. Plus, you can submit expense reports on the go using the Paycor app. Like so many Paycor features, the expense management system also includes a native data tool, allowing admins to create reports to help analyze expense data and make more informed decisions.

Paycor Payroll

Alongside its core HR software offering, Paycor also provides cloud-hosted payroll software aimed at small and midsize businesses. Designed for relative newcomers to operate, it offers beginner-friendly features like automatic payroll run functionality. This ensures payroll for salaried employees is run at a specific time on a specific day without anyone needing to be present, although real-time updates can be provided through the Paycor mobile app.

Constantly updated to reflect changes in local, state and federal laws, Paycor payroll software has evolved over the last 30-plus years to ensure tax compliance isn’t the responsibility of time-poor admins or HR staff. Proactive alerts are sent out if missing information is detected, to ensure each employee has the appropriate tax IDs and addresses. Paycor will also handle tax filing and W-2 and 1099 processing, with tax setup guidance based on employee home and work addresses. We also appreciate that Paycor supports multi-state tax filing on all of its subscription tiers, something that makes it stand apart from many competitors.

Payroll Interface

Paycor’s payroll software covers all the basics, like ledger integration, employee self-service, and reporting templates. Staff can be paid by direct deposit or pay cards, and they’re able to view pay stubs, W-2 documentation and benefits information through a dedicated Paycor smartphone app. They’re also able to view pay stubs up to three days before payment is received, giving them time to review them for errors. The employee mobile app additionally supports colleague communications, benefit enrolment and time-off requests.

The payroll interface’s grid layout provides dedicated columns for labor codes, overtime, employee numbers and department codes. Clocking in is handled through Paycor’s timekeeping solution, which is compatible with either a physical time clock, mobile app or iPad application, all of which sync to payroll. The software can also integrate with third-party timekeeping software such as POS systems, and geolocation is supported for ensuring employees punch in and out at the appropriate location.

Changes to individual records are applied in real time, as are features like same-day hires. The pay summary dashboard provides a colorful interface for viewing cash requirements, tax liabilities and reports. Summaries are automatically displayed as pie charts, while expenses are broken down into categories between user-specified dates. 

The platform’s focus on DE&I extends to payroll analytics as well, helping companies to achieve pay equity with real-time visibility into the statistical composition of their workforce. This is useful for managers who are keen to demonstrate a commitment to equality across their business.

Subscription Tiers

Paycor’s four subscription tiers are Basic, Essential, Core and Complete. While payroll is included in all four tiers of Paycor subscription, the Basic package provides only limited support for wage garnishments. It also excludes features like 401(k) integration, job costing, analytics, expense management, recruiting and hiring, and talent management. 

Core is the first tier to receive expense management, and this provides the same payroll functionality as the Complete package. Even so, we appreciate that key payroll services are offered with all Paycor subscriptions, rather than being an added-cost option or available only on premium packages. 

Users should note that only basic analytics capabilities are available with the Essential and Core packages, so those interested in Paycor’s full suite of analytics tools will need to purchase the most expensive Complete plan. In addition, the recruiting and hiring tools are limited on the Essential and Core plans, supporting three or five job postings, respectively. Users will need to upgrade to the Complete plan for recruiting and hiring support for unlimited jobs, something businesses hiring for multiple positions should keep in mind.

Paycor Costs

Paycor offers plans geared toward small (fewer than 50 employees) and midsize (50 to 1,000 employees) businesses. We like that it doesn’t require an employee minimum, unlike some competitors we reviewed.

If you are looking for a small business HR plan for fewer than 50 employees, you can choose from four tiers:

• Basic: The Basic plan includes Paycor’s payroll and tax service, online reporting, new-hire filing, basic wage garnishments, off-cycle payroll runs and Payroll AutoRun, and other basic features. While Paycor no longer lists its prices on its website, the Basic plan was previously priced at $99 per month plus $6 per employee per month.
• Essential: This plan gives you access to everything in the Basic plan, plus features for labor distribution, onboarding, job costing, PTO tracking and time off requests, 401(k) features, basic analytics, recruiting and hiring features for three jobs, and HR support center access. This plan was previously priced at $159 per month plus $9 per employee per month.
• Core: This plan includes everything in the Essential plan, plus expense management, and access to leadership tools and manager training, recruiting and hiring features for five jobs, and employee engagement tools. This plan was previously priced at $199 per month plus $12 per employee per month.
• Complete: This plan gives you access to everything in the Core plan, plus advanced HR features, like advanced analytics, recruiting and hiring for unlimited jobs, career management and compensation planning features, and talent management functionality. This plan was previously priced at $299 per month plus $16 per employee per month.

Because Paycor no longer lists pricing on their website, you’ll need to reach out to Paycor directly to confirm pricing. There’s a free trial, which allows users to try Paycor’s Core plan, with access to payroll, onboarding, HR and time-tracking solutions for 30 days, so you can test the product before you commit to it. 

Paycor Setup

The Paycor implementation team will ensure a seamless transition by working with you to establish timelines, share training resources, collect and review employee and customer data, and configure your database. The process starts with discovery meetings to go over your unique needs and allows you to choose options for training your team on the software and setting timelines. Meanwhile, the Paycor team works to import all the necessary data and configure the system. Essentially, the team does the heavy lifting while your team is learning how to use the new technology.

The Paycor platform is relatively robust, so it may take a few weeks or months to set up, depending on the scope of your needs. During this time, a representative will work with you to ensure that you have access to all of the features you need and that your employee data has been transferred successfully. Once your system is live, you’ll be introduced to your ongoing support team, which will prepare you for long-term success.

While the implementation time is much longer than some of the other services we reviewed, we appreciated the hands-on process, which offers a higher level of support than some competitors with self-guided implementation.  

Paycor Customer Service

Paycor’s customer service agents are available by live chat, email or phone, and they also provide an online support center. The support hours are 8 a.m. to 8 p.m. ET, Monday through Friday, for payroll products and 8 a.m. to 6 p.m. for all other products. That is a larger window than what many competitors provide. Many competing software vendors operate in the Pacific Time Zone, which can make it more challenging for East Coast businesses to get morning support. We like that Paycor covers standard business hours for all U.S. time zones. However, if you’d prefer 24/7 customer service, check out our Paychex HR software review.

Paycor offers a helpful training hub for customers who want to access resources, videos and e-learning classes. This is a helpful support tool for new users who need help completing tasks such as payroll or even implementing the platform. However users should note that some have complained online about Paycor’s customer service, saying the online support center is unhelpful and that it can take a long time to get the answers they need from customer service phone support.

Paycor Drawbacks

Smaller companies with the most basic requirements may find Paycor too expensive for their needs. We like that the company has packages geared toward businesses with fewer than 50 employees, but they may not be the best value for small businesses that don’t have extensive reporting, benefits or scheduling needs. In addition, businesses must upgrade to a higher plan to access Paycor’s standout features, like the analytics tools, report builder and compliance support options. Paycor is also not transparent about its pricing on its website, unlike some competitors. [See our Gusto review]

Another drawback to consider is the implementation time. Paycor provides a lot of support during the implementation phase, but you likely won’t be able to get up and running right away.  The average setup time is between two and three months, but it could take longer. If you need to get started with new HR software more quickly, check out our best picks page to find HR software with a shorter setup time. Competitors, such as those featured in our TriNet HR software review and Rippling HR software review, often offer implementation times that range from several days to a couple of weeks.

Methodology

We conducted comprehensive research and analyzed dozens of HR systems to identify the top HR software solutions on the market while comparing their features, customer service and pricing. We watched product videos, took an online tour of the platforms and attended demos with staff. When looking for the best HR software for reporting and analytics, we prioritized ease of use, customization and actionable insights related to key business concerns, like employee turnover.

Overall Value

We recommend Paycor for …

• Businesses that want access to advanced reporting and analytics features.
• Small businesses with DE&I initiatives.
• Organizations that want access to reports and employee feedback surveys that can help address retention issues.

We don’t recommend Paycor for …

• Companies that need to set up their new HR software service quickly.
• Small businesses that are looking for the most affordable HR software option.

Erin Donaghue contributed to the reporting and writing in this article.