Paycom Review: Is It the Right HR Payroll Solution for You in 2022?

With Paycom’s Payroll Grid, you can customize your payroll layout to fit your requirements. Any provided data syncs systemwide to eliminate re-entry and errors. It can handle unlimited pay runs each month, and you can pay employees and contractors with a paycheck or via direct deposit.

If you prefer to pay employees via paychecks, Paycom allows you to issue checks through its bank account. This saves you from having to reconcile paper checks after every pay run and reduces general ledger transactions. The platform will even inform you of employees whose paychecks remain uncashed 180 days after issuance and automatically refund these transactions to you. Note that you need to ensure that the employees get the refunded amount to avoid payroll compliance and labor issues.

Its payroll solution also includes payroll accounting data tracking, expense management, mileage tracking, analytics and reporting, and garnishment administration. Employees can gain 24/7 access to a self-service portal that shows their pay stubs, scheduled earnings, deductions, and more.

Paycom has removed the burden of processing payroll from HR and payroll administrators with its Beti solution, which is one of the functionalities of Paycom’s mobile apps for iOS and Android devices. Beti enables your staff to run their own payroll for each pay period. This provides your employees advanced knowledge and full insight into their expected paychecks and deductions while reducing the payroll work you and your HR team need to do.

Paycom’s Beti solution is great for companies that don’t have a lot of off-cycle payouts. You only need to set the recurring pay cycles in the system, and Beti will automatically notify employees when it’s time to process their own pay. Running payroll through Beti is also easy, given its in-app guide that assists employees every step of the way—it even provides tips on handling pay errors (like missing time data). In case there are errors, Beti alerts the affected employees so they can address these issues before approving their payroll.

Paycom’s Beti lets employees check, review, and approve their own payroll.  (Source: Paycom)

Paycom automatically debits and deposits your payroll taxes on their due dates, and remits and files your payroll taxes on time. It can also file quarterly and year-end tax reports (Forms 940, 941, and W-2) on your behalf.

Your employees can clock-in/out through Paycom’s web-based time clock, mobile app, and a physical time clock you can purchase or lease. Aside from editing and approving digital time cards, its time tracking software lets you add restrictions (such as geofencing and IP address filtering) to prevent unauthorized punches. Employees, on the other hand, can review and submit timesheets, request PTOs, and allocate hours to different projects and locations.

Paycom also comes with a scheduling solution that includes shift templates, schedule swapping, and labor cost forecasting tools. Further, all data from staff scheduling and time tracking flows automatically into its payroll module. This eliminates the need for manual data uploads since Paycom’s products work seamlessly with each other.

Paycom’s time clock terminals support clock-ins/outs through fingerprint scans, RFID card swipes, and proximity fob taps.  (Source: Paycom)

Paycom’s talent acquisition solutions let you post open positions across online job boards, track applicants, send customizable offer letters, onboard new hires, and run background checks. In addition, it will help you determine whether or not job applicants may be Work Opportunity Tax Credits (WOTC)-eligible, allowing you to enjoy financial incentives for hiring individuals belonging to groups that typically face significant challenges in finding employment. Some of these groups include military veterans, former felons, and designated community residents in rural renewal counties and empowerment zones.

Paycom’s recruiter dashboard shows snapshots of your open requisitions, job listings, and candidate applications. (Source: Paycom)

Develop your workforce and improve employee engagement with Paycom’s suite of talent management solutions. Aside from a learning management module where you can deploy online training courses, the platform has a compensation budgeting tool for creating merit matrices. You can also use it to control your compensation budget and ensure that salary increases are equal to the employees’ work contributions.

You can track the completion status of learning sessions through Paycom’s “Course Status Dashboard.” (Source: Paycom)

To help monitor your staff’s work performance, you can use Paycom’s performance management module, which offers assessment forms that employees can fill out and submit online. People managers can also give real-time feedback, while system administrators can track the submission progress from a dashboard.

You and your employees can access performance reviews on Paycom’s mobile app.  (Source: Paycom)

To help streamline the process of managing personnel movements through various positions in your organization, Paycom offers a customizable solution that allows you to create an org chart, manage reporting relationships between roles, and set up salary grades for positions. This is helpful when adding, promoting, and moving employees as it increases the visibility of vacant positions. And since position-related changes are captured automatically throughout Paycom’s platform, it reduces the risk of human errors due to manual data entry.

You can even assign attributes to positions to help you manage permission settings, training programs, performance reviews, and compensation planning. Plus, if you link positions to benefits eligibility profiles and time tracking protocols, you don’t need to manually tag which employees are entitled to specific benefits and time tracking rules (like overtime exemption)—Paycom will automatically reflect the changes.

Paycom eliminates the need to maintain physical PAFs to document changes in the employee’s position and salary, including when they were hired or separated from the company. Its PAF solution lets your managers edit and submit e-PAFs through its software or mobile app. It has built-in change categories to ensure that the reasons for the movements are uniform and accurate. You can even link it to Paycom’s position management module so that the position titles used in the e-PAFs are consistent across the organization. All approved changes will also reflect automatically across the platform’s various modules.

Paycom will also send the approved e-PAFs to the concerned employees. Your staff can access this through its software or mobile app; the system will require employees to accept the change (i.e., promotion, lateral movement, or salary adjustment) by clicking the “Acknowledge” button.

You can create e-PAFs directly through Paycom’s organization chart.  (Source: Paycom)

Paycom’s HR management solutions include tools for managing online documents, employee satisfaction surveys, and checklists for staff onboarding and offboarding. You can also use it to set up your company’s employee benefit plan/s, deduction amounts, and enrollment dates. It even comes with an “Ask Here” feature to help your workers find the answer to their HR and payroll questions. While it can route the employees’ queries to the appropriate HR staff, you can set up custom FAQs to automate and streamline the process.

In addition, Paycom offers a self-service portal for employees to clock-in/out, submit time off requests, view pay stubs, access tax forms, take online training courses, and update personal information. Managers also have access to a self-service portal to approve PTO requests, timecard edits, ePAFs, and schedule changes.

With Paycom’s mobile apps (for iOS and Android devices), you can offer robust self-service portals for employees to view payroll information, review approved time-off requests, complete learning sessions, submit expense reports, and more. Meanwhile, managers can screen PTO requests, approve timecards and punch-change requests, view expenses for reimbursements, and access the time-off calendar.

Aside from viewing benefits plans, your employees can add and edit dependent information through Paycom’s mobile apps. (Source: Paycom)