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Pros & Cons of Paycor: Analysis of a Leading HR Software

What are the pros and cons of Paycor?
The pros and cons of Paycor are found in its all-inclusive feature set that provides extensive recruitment, human resources, and payroll solutions. The software is yet to add a 1-on-1 and classroom training and service invoice, but if a comprehensive HR software solution is what you’re looking for, Paycor will work perfectly for you.

In the HR field, gone are the days when recruitment, screening, hiring, and evaluation of applicants are done in the traditional way. HR software systems are now a thing, and they can even perform more additional tasks. Payroll, time and expense tracking, attendance, and benefits management are all usually covered by HR software. These are the features you’d have to look out for when choosing an HR software for your company.

If you’re considering Paycor as your human capital management system (HCM), you’ve come to the right place. In this article, we will take a closer look at the pros and cons of Paycor. It is one of the most prominent HR software solutions available today. We’ll point out its main strengths, as well as its weak spots, should there be any. This way, you can fairly judge if Paycor can provide enough HR software benefits to your business.

paycor review

If you want to get the most out of your workforce, it is a good idea to invest in more-than-capable HR software. By doing so, you will gain valuable insights into the skills, strengths, and development needs of your company. These days, this is made even easier by the development of a cloud-based HR technology. Along with an advanced set of analytics, this technology eliminates what would be an upfront investment in the traditional HR tools and practices.

Businesses have also turned to the use of social media in recruitment processes. As a tool, social media helps in talent, acquisition, leadership, recruitment, and employee communication. Meanwhile, many HR software vendors have also considered all these employee-related needs. HR technologies have made it possible to have functional software solutions for better internal organizations and HR management.

The success of a company does not stop at having a clever name and solid products and services. Workplace environment, employee relations, compensation plans, labor law and tax compliance are the company’s gateway to prosperity. In this regard, the HR department plays a vital role. This is why it is essential to choose the best HR software that will work for your business.

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Areas that HR Managers Spend the Most Time On, 2019

Areas that HR Managers Spend the Most Time On, 2019
Talent acquisition: 32

Talent acquisition

%
Areas that HR Managers Spend the Most Time On, 2019
Employee benefits: 18

Employee benefits

%
Areas that HR Managers Spend the Most Time On, 2019
Learning and talent development: 13

Learning and talent development

%
Areas that HR Managers Spend the Most Time On, 2019
Payroll: 12

Payroll

%
Areas that HR Managers Spend the Most Time On, 2019
Legal / compliance: 10

Legal / compliance

%
Areas that HR Managers Spend the Most Time On, 2019
Organizational strategy: 10

Organizational strategy

%
Areas that HR Managers Spend the Most Time On, 2019
Organizational design: 3

Organizational design

%

Source: OvationMR World Insight

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Will Paycor help you through the streamlining processes of the HR management?  To answer that, let’s take a closer look at the software’s key features.

What is Paycor?

paycor dashboard example

Paycor is a comprehensive HCM software that includes HR management tools and online payroll services. It provides an organized and simplified system to small and medium-sized organizations requiring an HR technology. The software offers features including benefits administration, payroll, personnel tracking, attendance record, and more. These features enable an automated system for basic HR functions.

Paycor has been in the operations with more than 27 years of experience. As of today, Paycor has partnered with more than 30,000 organizations in all 50 states in the United States. With Paycor’s expertise, their software is designed to provide you exactly the tools you’ll need look out for choosing an HR management software. From recruiting and onboarding to benefits and learning, the software allows for a modernized system in the way you manage your people.

If you want to investigate the features closely, you can easily do so when you sign up for Paycor free demo here.

Furthermore, the software combines both technology and competence in the business. Paycor is equipped with functional tools for employment screening, employee performance reviews, and user-friendly mobile solutions. The tools will surely help you reduce time in payroll processing. It can also spare you the headaches by keeping you on top of your employee records.

The following are the key features of Paycor:

  • Human resources management
  • Recruitment tools
  • Real-time analytics and reporting
  • Tax compliance
  • Employee recordkeeping
  • Automated administrative tasks
  • Learning engagement
  • Time and attendance record
  • Payroll processing
  • Interactive and intuitive dashboards
  • Report scheduling
  • Data sharing

Paycor Advantages & Disadvantages

Seamless recruitment management

Paycor punch clock

Paycor records your employees’ time and keeps them on top of their schedules.

Finding top talents is crucial in ensuring your company’s operational success. This is made easier with Paycor’s recruiting and onboarding tools. With an applicant tracking system built by recruiting professionals, the software behaves and thinks like an actual recruiter. This ensures a top-notch recruitment process. Afterward, you can easily retain and engage your top applicants with the onboarding solution that the software provides.

Additionally, the software allows candidate information to be completely integrated with Paycor’s platform. This helps in finding the smart candidate your company needs and lessens the HR’s task of always re-keying the candidate’s profile as required. Another great feature is how the software eliminates the need for an IT help when you want to add a fully-branded career site that matches your company’s website.

Among the recruitment tools that Paycor provides, the interview scorecards that the software provides comes in handy as well. It automatically saves post-interview feedback through easy-to-use scoring cards. The software also helps you in managing responses with its automated offer letters. With this tool, it will be easier for candidates to give you a response, which in turn can possibly improve your acceptance rates. And when you utilize the candidate texting tool, you can immediately communicate with your prospects, as well as reconnect and send follow-up info and timely reminders to candidates.

Moreover, compliance reporting is covered by Paycor. You will not have to worry about keeping your company EEO/OFCCP compliant. Paycor automatically stores reasons for flow logs, hire and offer logs, and non-selection of candidates. The software’s analytics tool will also help you track time-to-hire metrics and lead sources, which can give you valuable insights about your hiring process.

Reduces paper-based tasks

Reports say that HR teams spend nearly 70% of their time on paper-based administrative tasks. Thus, what Paycor offers as solutions are simplifying and streamlining HR, benefits administration, and ACA compliance so your team can focus on what they do best.

In particular, Paycor allows automated benefits enrollment. This works by adding plan details online, and then your employees easily make their open enrollment selections. Furthermore, through Paycor’s Carrier Connect feature, the software can directly transmit data between the benefits platform to your insurance providers.

The software is also great at centralizing all information about your employees’ benefit plans. With this, the HR manager does not need to re-key details every time or search in multiple platforms for the required information. Employees are also given easy access to the system by using their username and password.

Also, Paycor Mobile can easily and quickly address employees’ questions about their benefit enrollment choices. The software further provides your employees access to information they need regarding healthcare benefits and 401(k). This is allowed through Ask Emma or perform learning management tools.

Equipped with real-time analytics on healthcare plan choices, benefit enrollments, and more, Paycor can help you in maximizing the value of your benefits programs.

Paycor employee data

In a user-friendly interface, you can access all employee data.

Accesible learning management

Paycor’s award-winning learning management system (LMS) combines in one platform virtual, classroom, mobile and social capabilities. The software offers excellent education and training with this essential feature. It is also able to create and publish professional courses through an advanced course builder.

Consequently, Paycor can organize personalized training programs for your employees without administrative overhead. The LMS schedules and tracks live and instructor-led training sessions, as well as online course completion. However, it is yet to offer 1-on-1 or classroom training. Overall, though, Paycor does well in its LMS. It ensures that your employees can benefit from this feature as they get to learn at their own pace.

Modular or self-paced training is also possible with Paycor as they allow access via desktop or mobile device. In an interactive and intuitive interface, learners can easily search and find courses. They can consume and take time to learn a course, either at their own pace or while on the go. The software also enables offline access, and it allows you to change the system language.

Unified time and attendance record

For any type of business, it is essential to monitor, measure, and predict labor costs. The first step in doing this, of course, is to completely and accurately automate your time-keeping systems. With Paycor, you’ll get to experience a unified platform that totally eliminates costly mistakes in the time and attendance records, payroll, and HR. There are also multiple forms of time-entry methods made possible by Paycor. They have mobile, web, kiosk, and clock systems. This way, your employees can more efficiently manage their time and schedules.

The proactive alerts and messages feature of the software is also commendable. It can instantly notify you and thus helps in avoiding any discrepancy that can lead to incorrect time records and costly compliance issues. Moreover, you can handle potential time card issues and make changes with them in only one platform. By utilizing the points and incidents policy feature, you can even lessen the rates of absentees and tardiness among your employees.

Thus far in the time management department, Paycor comes equipped with time off and overtime dashboards. In one click, you can efficiently manage and view your employee’s vacation requests. Likewise, you keep an eye on your employees’ overtime records and at the same time break down your expenses by department, manager, location, and more. It even gives you a forecast of your yearly expenses.

Optimized payroll

Paycor payroll

Easily manage your employees’ payroll.

Paycor’s reliable payroll tools ensure that you can always confidently pay your employees on time. The online payroll is easy to use and is undoubtedly a great solution catered for small and medium businesses. If there’s anything amiss, though, it seems they have stopped giving invoices to match every expense for services. Nonetheless, Paycor’s payroll system functions more than enough in ensuring that you can easily pay your employees from wherever you are.

The ledger integration, employee self-service, form templates, and reporting tools help in optimizing your payroll services, and it can save you a lot of time too. For one, you can effortlessly add unlimited columns to the pay datasheet and easily calculate gross to net income. Then through self-service access to the system, employees can review their pay stubs, pay history, and tax forms. Admins can then proceed to approve the necessary changes while at the same time reducing administrative processes with a smarter workflow.

On top of that, the Paycor mobile support works great as it provides access to pay stub data and benefits information. In a user-friendly mobile interface, you can view the net wages, taxes, and deductions for each corresponding payroll dates. You can even electronically give your employees their paychecks via direct deposit.

Stress-free tax compliance

You also won’t go wrong with Paycor’s compliance assistance. It sure comes in handy when staying on top of all your employees’ tax dues. Paycor ensures that tax experts will be working with you so that your company stays compliant with all tax notices. By doing so, you are sure to stay ahead of labor and tax violations.

With the help of the software, Paycor calculates workers’ compensation premiums, debits the total amount from your accounts, deposits monies collected, and files reports on your behalf. The software provides accessible and easy-to-understand records of tax dues so as to keep compliance with the law.

Detailed reporting and analytics

A great business strategy relies on comprehensive data that you can easily access. Thus, Paycor’s software ensures that you can quickly summarize data, report across calendar years, and use your own formulas.

Paycor’s reporting tools make it simple to create, customize, and share reports. The unified platform lets you combine HR, payroll, and time data in one report. It also allows saving and sharing reports with your managers or anyone inside or outside your organization.

Meanwhile, the HR reporting metrics of Paycor can be customized according to your needs. Filtering, charting and configuring your insights are all supported and can fit your business needs as required.

The leverage dashboards are inventive as well. There are the turnover, headcount, overtime, and benefits dashboards that can make your HR team work more efficiently with less time in searching for data and more time in analyzing them.

Does Paycor fully cover all your HR needs?

Paycor’s level of knowledge and expertise in the industry is reflected in its extensive HCM software. It is easy to navigate, and it offers HR and payroll tools and even expands to having features that can address the learning development and growth of your employees. Currently, Paycor is one of the top HR software programs in terms of core and strategic HR features, as well as workforce management tools.

Our Paycor pros and cons review surely shows that the software can get the job done for small and medium businesses. While it has minor issues on classroom training and service invoice, the software is still highly reliable and covers most significant features like recruitment, ATS, benefits administration, attendance records, tax compliance, and payroll management. These features serve as the backbone of a great HR software, and Paycor ensures you’ll have them all. If you want to check its comprehensive feature set, you can sign up for Paycor free demo here.

Emily Watson

By Emily Watson

Emily Watson is a human resource management expert specializing in workforce planning and HR development. Throughout her years in the industry, she has also dabbled in career path development, employee training, and workforce management. In her four years as a contributor for FinancesOnline, she has reviewed over a thousand HR tools ranging from recruitment platforms to unified human capital management suites. She has also created in-depth analyses of emerging HR technologies and trends to provide companies worldwide with the data they need to keep up with industry shifts.

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