Paycom’s main features include payroll, talent acquisition, talent management and more.
Payroll
Paycom provides a complete online payroll management system that ensures employees are paid correctly and on time. With these tools, businesses can streamline processes for expenses, garnishments and more.
At the heart of Paycom is Beti, an employee-driven payroll experience that guides employees to identify and correct paycheck errors before payroll submission, all within the Paycom app.
This empowers employees to manage their payroll data, which not only increases data accuracy but also relieves HR personnel from the task of verifying and approving payroll for each employee. However, employees aren’t entirely left to their own devices. HR team members can monitor employees’ progress each payroll period in Beti’s dashboard.
Once all employees verify and approve their payroll, Beti automatically notifies your HR team that payroll can be submitted. This feature is currently only available in Canada and the U.S.
The software also automates the entire tax filing process, including debiting payroll taxes, depositing them on their due dates and remitting filings. This means that clients only need to submit their payroll and Paycom will handle the rest.
The software is also capable of handling IRS Forms 941 and Forms 940, ensuring that employees receive only one W-2. Additionally, Paycom can assist clients in managing tax laws in their state and local jurisdictions, alleviating their payroll tax burden.
- Beti: Employee-driven payroll that empowers employees to manage their own payroll data, thereby freeing up HR teams to perform more value-added tasks.
- Payroll tax management: Paycom’s tax management software reports and files payroll taxes on your behalf.
- Wage garnishment: Paycom reduces your liability as an employer by handling garnishment calculations, payments and record-keeping.
- Everyday wage access: Employees can tap into earned wages when needed between paydays. This feature is only available if you use Beti and Vault, Paycom’s payroll card feature.
- Expense management: Easily reimburse employees in the upcoming pay period for things such as travel expenses using Paycom’s expense management feature.
Talent Acquisition
Paycom offers comprehensive tools for recruiting, hiring and onboarding top talent. The software provides automated hiring and staff management, streamlining the recruiting process to ensure that no potential candidates fall through the cracks. Features like applicant tracking and E-Verify help to filter out unqualified candidates and verify employment eligibility. Enhanced Background Checks offer drug testing and health screening services. Plus, you can conduct customizable searches to verify criminal, education and employment histories.
- Applicant tracking system: Paycom’s applicant tracking system helps you post jobs to multiple boards, manage candidates through the hiring pipeline and even build talent pools of passive candidates.
- Onboarding: New hires can work through their onboarding checklist even before day one on the job by filling out and signing their paperwork electronically.
- Tax credits: Paycom’s tax credit service helps you lower your company’s tax liability by searching for tax credits you may be eligible for.
- Background checks: Paycom enables you to conduct thorough background checks by scanning national criminal records, sex offender registries and more.
- E-Verify: From right within Paycom’s database, you can verify your employees’ employment eligibility in a way that’s compliant with the U.S. Department of Homeland Security.
Talent Management
Paycom not only helps you attract and onboard top talent but also retain that talent through performance management, learning and development features and more. Its performance management software enables your employees to set their professional goals in collaboration with their manager. Employees and their managers can also monitor their goal progress over time. Paycom also facilitates employee self-reviews, manager reviews and 360-reviews to provide a holistic view of an employee’s performance.
Paycom Learning is Paycom’s built-in learning management system (LMS) that contains built-in, mobile-friendly courses and industry-specific subscription content. Built-in courses cover discrimination and harassment prevention, workplace ethics, diversity and inclusion and other key workplace topics. Paycom’s subscription content instructs on compliance for healthcare, construction and several other industries. Otherwise, you can also create your own courses using Paycom’s step-by-step guide. You can even add quizzes, video content and closed-captioning to your courses.
- Performance management: Here, employees can set and track their goals, review their own performance and get feedback from their managers and others they work with.
- Paycom Learning: Paycom’s LMS has built-in courses to upskill your employees and maintain HR compliance. You can also build your own courses.
- Position management: Paycom’s position management software helps you create an organization chart by defining roles and reporting structures. In addition, for each role, you can specify job attributes and salary bands and attach offer letter templates, benefits eligibility and more.
- Compensation budgeting: Paycom facilitates fair and competitive compensation to retain top employees. Set salary bands for positions, rules for pay bumps and more while staying within budget.
HR Management
Paycom’s single software solution offers HR management tools to simplify the complex tasks of managing personnel and compliance. The software offers a range of features, including customizable reporting, streamlined benefits administration and enhanced Affordable Care Act (ACA) and Consolidated Omnibus Budget Reconciliation Act (COBRA) administration. These features help organizations comply with ever-changing state and federal regulations and avoid the costs associated with manual processes and outdated technology.
- Customizable reports: Paycom’s Report Center enables you to create customizable, automated and shareable reports for payroll, labor management, recruiting and more. You can also enhance reports with charts, graphs and more.
- Automated compliance: Paycom’s Government and Compliance software monitors changes in employment laws, such as FLSA, FMLA and more.
- Employee engagement: Paycom can boost employee engagement using one of its 45 customizable survey templates and the Ask Here feature that directs employees to the person who can answer their questions.
Time and Labor Management
Paycom’s time and labor tracking software offers precision-built time clocks, customizable scheduling and tools to combat time theft. Time and labor data flows seamlessly throughout the app, providing accurate, real-time information that informs scheduling, payroll and reports.
The Time and Attendance module helps you track employee attendance at work. With customizable rules, batch editing and timecard management features, it can accommodate even the most complex time attendance systems. Employees can clock in and out using various methods, including a mobile self-service app, web-based time clocks, kiosks or hardware terminals. Approved time automatically syncs to payroll, eliminating data reentry.
Employees and managers alike have a part to play in scheduling, and Paycom facilitates that collaboration. Employees can enter their availability, sync their Paycom schedule to the calendar on their mobile device, swap shifts with co-workers and more. Managers can use Paycom’s scheduling software templates to create repeatable schedules and review time-off requests.
The software also includes features to combat time theft, such as geofencing and Microfence using Bluetooth beacons. These features ensure that employees are physically located within a predetermined boundary when clocking in and out.
- Time clocks: Employees can clock in and out on the app, web-based time clocks or using a hardware terminal. Geofencing is also available to prevent time theft.
- Time-off management: Employees indicate their availability or request time off, and managers can approve timesheets, time-off requests and more.
- Scheduling: Employees and managers can access real-time schedules in the system. Managers can easily get an overview of employee availability and create drag-and-drop schedules.
Benefits Administration
Paycom simplifies and automates the enrollment process, resulting in less paperwork and more informed decisions. The software allows employees to easily view and select benefits, preview the impact of deductions on take-home pay and access plan documents. The software also generates reports to prevent overpayment for benefits and ensure eligible employees enroll.
- Paycom benefits coordinator: Paycom customers have the option of working with a coordinator to create a competitive benefits package, facilitate interactions with carriers and more.
- Automatic carrier communication: Any changes to employee benefits, whether initiated by you as the employer or by the employee, Paycom’s add-on Benefits to Carrier tool automatically gets routed to the appropriate carriers to ensure consistent and accurate coverage.
- Reporting: Paycom generates benefits reports to ensure your packages are within budget, only eligible employees are enrolled and more.
