Paycor vs. Paylocity: Which Payroll Solution Is Best For Your Enterprise

The administration of payroll, human resources, and several other essential duties has grown significantly more difficult as organizations continue to adapt to the changes brought on by the digital age. Both Paycor and Paylocity, which are both well-known human capital management (HCM) platforms, provide businesses of all sizes with options that are intended to simplify and speed up the aforementioned procedures. In this post, we will perform an in-depth comparison of Paycor vs Paylocity in order to assist you in determining which one is most suited to meet the specific requirements of your business.

Understanding Paycor and Paylocity

Both Paycor and Paylocity cater to the needs of midsize companies and offer a comprehensive set of services, such as payroll management, time and attendance monitoring, benefits administration, talent acquisition, and many more. Let’s go at the specifics so that we can make a decision that is well-informed.

Comparison Table

Here’s a quick look at key features offered by Paycor and Paylocity:

Features Paycor Paylocity
Pricing Custom Quote Custom Quote
Payroll Yes Yes
Time & Attendance Yes Yes
Benefits Administration Yes Yes
Talent Acquisition Yes Yes
Compensation Management Yes Yes
Onboarding Tools Yes Yes
Performance Management Yes Yes
Learning Management Yes Yes
Employee Recognition Yes Yes
Integrations 220+ 340+

Pricing and Transparency

Both Paycor and Paylocity provide customers with a number of different pricing tiers, but neither company shares detailed pricing information on their website. You will need to interact with their sales teams to receive customized quotations and product demonstrations in order to gain precise price information.

Feature Highlights

  • Payroll: Paycor offers a number of useful services in addition to its automatic payroll updating service, including tax filing, direct transfer, and cost tracking. Paylocity offers a payroll readiness dashboard as well as the ability to upload mobile receipts.
  • Time and Attendance: Both solutions include comprehensive options for tracking time and attendance, including mobile clock-in options and geofencing to deter employees from stealing time.
  • HR and Benefits: The automated workflows provided by Paylocity simplify open enrollment, the establishment of benefits, and the distribution of data to insurance carriers. Options for employee self-service and variable benefit package combinations are both available through Paycor.
  • Talent Acquisition and Compensation: Paycor’s talent acquisition system makes use of artificial intelligence and has a candidate dashboard in addition to pay planning. In addition to individualized job advertisements, Paylocity provides a platform for salary administration.
  • Performance and Learning Management: Onboarding software from Paycor streamlines the process of collecting new recruit documents. Paylocity, on the other hand, provides onboarding in addition to performance monitoring and a learning management system.

Pros and Cons

Paycor Pros:

  • Multiple paid plans to suit different budgets.
  • Unlimited payroll runs and automated payroll.
  • Custom reporting and analytics.
  • Self-service employee portal.

Paycor Cons:

  • Lack of transparent pricing or free trial.
  • Additional fees for specific payroll actions.
  • Some features, like benefits and time tracking, are add-ons.

Paylocity Pros:

  • Extensive integrations.
  • Employee recognition and communication tools.
  • Customized videos in job postings.
  • Flexible, customizable reporting.

Paylocity Cons:

  • Lack of transparent pricing or free trial.
  • Potential for improved customer service.
  • Initial setup complexity.

Making Your Choice

Both Paycor and Paylocity provide powerful options, which makes choosing between the two a difficult task. Because none of these platforms offers a free trial, it is absolutely necessary to set up a sales call and a product demonstration. Prepare specific questions to identify which platform aligns better with your business’s unique requirements and budget.

In Conclusion

Which payment processing solution, Paycor or Paylocity, is best for your business depends on its individual requirements and preferences. Both of these systems, because to the extensive feature sets they provide, are fully capable of managing the intricate HR and payroll responsibilities of medium and big enterprises. Make it a point to communicate with the sales teams that they employ so that you can amass all of the pertinent data and arrive at a conclusion that will be to the advantage of your company.

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