Paycor HR Pricing Guide (May 2022)

Paycor HR Management Review
ITQlick Score: 89/100
ITQlick Rating: (3.3/5)
Pricing: 4.2/10 - average cost
Category: Small Business Payroll -> Paycor HR -> Paycor HR pricing
Ranking:Ranked 7 out of 28 Small Business Payroll systems
Company: Paycor
Pricing: starts at $199 per month
Typical customers: Small, medium and large size businesses
Platforms: Desktop
Links: Paycor HR review, Paycor HR alternatives
Shlomi LaviShlomi Lavi / May 06, 2022

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Is Paycor HR expensive?

Paycor HR is about the same cost as the industry average.

Paycor HR Management pricing is based on four subscription plans, namely Basic, Essential, HCM, and Complete. No free trials or versions are available. Paycor Basic pricing starts at $99/month, plus $5/employee/month, and it offers automated onboarding, payroll, and tax service. Paycor Essential pricing starts at $149/month, plus $6/employee/month, and offers all Basic plan features plus time off requests and PTO tracking.

Paycor Complete pricing starts at $199/month plus $7/employee/month and offers all features of the Essential plan plus scheduled reports and payroll analytics. Paycor HCM pricing starts at $199/month, plus $12/employee/month, and it offers all features of the Complete plan plus automated workflows and employee recognition.

When comparing Paycor HR to their competitors, on a scale between 1 to 10 (10 is the most expensive to implement), Paycor HR is rated 4.2. Read the article below in order to calculate the total cost of ownership (TCO), which includes: customization, data migration, training, hardware, maintenance, upgrades, and more.

You can leave your info with us to get a free custom quote with a breakdown of cost for your business needs. You can also find here pricing information from Paycor HR Management's website.


Human Resources Software Products Price Range

HR software comes with different prices, which are usually determined by either number of employees or the number of users. Either way, HR software pricing ranges from $5–$15 and $16–$25 per employee per month; for most software, these prices are also set based on the robustness of the chosen package feature-wise, and they may not include fees for setup or training.

However, HR software that are priced based on the number of users may have slightly higher prices because, unlike ones with per employee prices, they do not require an organization to pay for every employee but, instead, employees that are actively using the software. For example, Conrep is priced at around $30 per user per month, while HRnest costs around $20 per employee per month. Another instance is HRnest, which costs $1 per employee, provided its paid in bulk for 35 employees each, and 2 feature plugins, which cost $40 and $60 respectively, must be paid for alongside.

In addition, HR software pricings are adjusted by most vendors, depending on the business size.

  • Small Businesses can expect around $5 for a single employee or nothing at all, as some software makes their basic HR features free for small workforces. Some examples are PeopleBookHR, Snappi, and IceHRM. At the same time, premium HR software like VAIRKKO Suite costs $1 monthly per employee, Optimity pricing is around $5 monthly per user, and Attendee HRM costs $28 per year to manage 28 employees.
  • Medium Businesses that need more robust HR software features can expect to pay between $5–$15 per employee. For instance, ICMIS Recruit costs around $6,000 per year to manage between 51–100 employees, Info:HR charges a one-time fee of $2800, and FingerCheck pricing is priced at $200 monthly for 50 employees.
  • Large Businesses can expect to pay less on a per-employee basis because the logic is the more the employee, the lesser the fee. However, the number of features and onboarding costs may cost more. For instance, FingerCheck costs $1,600 monthly for 500 employees and Britix24 $199 per month.

HR software best of breeds and their price ranges are as follows:

  • Applicant Tracking Software While some applicant tracking software are priced per job posting, businesses can, however, expect to pay between $19–$28, $28–$49, and $49 upwards per user, per month. For instance, Yahoo Indeed costs around $150 per month, Monster TMS costs $5,000 per year while Manatal pricing is charged at $15 per user per month.
  • Performance Appraisal Software Like most applicant tracking software, performance appraisal software pricing is based on a "per user, per month" basis. So, business enterprises can expect to pay between $1 to $4, $4 to $10, and $10 upwards. Note that the package type is also a determining factor for performance appraisal software pricing, as some packages have more features than others. The pricing of some performance appraisal software like Performly Talent starts from $2 monthly per user, Small Improvements from $5 per user per year, and AssessTEAM costs $1 monthly per user.
  • Onboarding Software Onboarding Software are also priced on a "per user, per month" basis. Users can expect to pay between $1 and $12 upwards. However, these prices are mostly for entry-level prices found on vendor website; more robust packages may be slightly higher, depending on the number of users. For example, Boardon costs $50 per month for a bunch of active users, EmployeeConnect $6 monthly per user, and WISP pricing falls around $50 depending on company size.
  • 360 Degree Feedback Software 360 Degree feedback products mostly have per month pricings. In this case, companies can expect to pay between $1 and $149 and above. Again, these prices depend on the number of features the vendor is offering. Examples are Click-360 costs between $7-$55 per report, SurveyLab $29 per month, and Bloomin costs $4 monthly per user.
  • Payroll Software The pricing for payroll products is usually divided into three tiers and priced per user per month. Enterprises can expect to pay between $1 to $5, $5 to $12, and above $12 per user, per month and depending on the tier. For instance, Payroll Mate is priced around $120 per year ($15 per month) and Payment Evolution Payroll costs $22 monthly per user. Alternatively, some payroll products have a one-time payment; examples are Accounting Xpert costs around $1,500 for one user, and Brightpay pricing is around $300.

What is the cost for Small Business Payroll implementation?

When it comes to selecting Small Business Payroll system, buyers are primarily concerned about the cost. In fact, it is the cost that determines whether a potential buyer would go with the product. True, there is no one-size-fits-all formula to determine the “worth” of a business application, but as a software buyer, you want to make sure you get the best value for your money, without having to dig a big hole in your pocket.

Understanding the exact price of a Small Business Payroll system isn't easy as the overall cost of software includes the cost of a license, subscription fees, training, customization, hardware, maintenance, support, and other related services. It's essential to take into account all of these costs to gain an understanding of the system's "total cost of ownership."

What are the typical Small Business Payroll pricing models?

There are primarily three common pricing models – Perpetual License, Subscription, and Commercial Open Source.

  • Subscription/Software-As-A-Service: - Not relevant for Paycor HR
    Under this pricing model, the system is accessed over the internet, as opposed to installed on-premises. The payment is made either on a per user basis or subscription basis. Ideally, customers are required to pay a recurring monthly fee until a specific period for using the tool. Subscription pricing model is more common with Software-as-a-Service (SaaS) apps.
  • Upfront cost for customization and integration is less compared to perpetual license cost because there is not much flexibility with SaaS systems in this area.
  • Recurring cost is greater as customers are required to make monthly payments as a subscription fee. Additionally customers using premium support services must pay an extra fee.
  • All in all, the total cost of ownership in the both cases is almost the same and may span over a period of 7-10 years, though you may have to pay a higher perpetual license fee upfront. The total cost may vary from starter to mid range to enterprise level apps in both cases.
  • Perpetual license: - Relevant for Paycor HR
    A common pricing model for on-premise applications, perpetual license requires a customer to pay an upfront sum to own the tool or other intellectual property on-premises for a fixed term.
  • Upfront cost involves the fee for installation, customization, and integration with existing systems, besides perpetual license fee.
  • Recurring cost is low in this pricing model and may include the cost for updates, maintenance, upgrades, and patches. Some vendors do offer premium support services, which come for an extra price.
  • Commercial open source: Not relevant for Paycor HR
    The customer can acquire the system free of cost without having to incur any upfront license fee. As a customer, you’re solely responsible for the ongoing maintenance, upgrading, customization, and troubleshooting of the application to meet your specific needs. You are on your own for providing end-user support, since you are not locked in with a vendor-supplied system solution.

How much would it cost to customize Paycor HR? (and is it relevant)

If you need specific features in your system catering to your specific business requirements, the vendor will charge customization cost, depending on your needs and feature requirement. Ideally customization cost is more complex to calculate compared to licensing cost.

Some apps allow you to easily combine data from multiple sources, without any complicated query requirements, while some others can be embedded into different applications to provide enhanced reporting. If you seek products that support customizable dashboards and predictive analysis to identity possible trends and facilitate decision making, you may have to pay higher for all the customization features.

Additionally, the following factors may affect the cost of customization:
  • User interface changes
  • Configurable dashboards
  • Data elements required for tracking
  • Forms to collect additional data
  • Dashboard, management and operational reports that are needed.
  • Workflows and how complex they are
  • Forms to collect additional data
Here are some questions to answer: How much customization is needed? How many systems do you want to integrate to? Does your company work like industry standards or does it have its own customized processes? What kind of special reports are needed?

In order to calculate the cost of customization you can use the following estimates:

  • Minimal customization - integrate with 1-2 systems: $2,500
  • Standard customization - integrate with 3-5 systems: $10,000
  • Fully customized system - integrate with more than 5 systems: $25,000

What is the data migration cost of Paycor HR? Relevant for Paycor HR

Most companies opt for data migration services from a vendor, which raises the cost of product ownership. If you choose to transfer data on your own, you can avoid paying the cost of data migration.
Data migration cost depends on the amount of data to be transferred, your current software, availability of migration tools, complexity of data, and gaps between the existing system and the new system.

If your data is stored in Excel spreadsheets, then it may incur you a lot of time and money to migrate data from Excel.
By involving a business services provider in data migration, you are asking them to offer additional services, for which you may have to pay extra.

As a rule of thumb the cost of data migration depends on how many records you want to migrate. Records can include the number of customers, invoices, financial transactions, products, versions, etc. Here is a list you can use as a rule of thumb:

  • 1,000 records: $500
  • 10,000 records: $2,500
  • 100,000 records: $10,000
  • 1,000,000+ records: $25,000

What is Paycor HR's cost of training? Relevant for Paycor HR

As a buyer, you are required to pay extra for in-person training, though some vendors offer web-based solutions as part of the package. The cost may involve end-user training, video/self, group, department, and training the super users.

The cost is mainly derived from the approach that you select for your organization:
  • End-user training
  • Group/Department
  • Video /self
  • Train the trainer/super user

Here are some questions to answer: How many groups (different departments, usages, type of users) are needed?

In order to calculate the cost you can use the following estimates:

  • 1-2 Sessions: $500
  • 3-4 Sessions: $1,500
  • 5-7 Sessions: $2,500
  • 8-10 Sessions: $5,000

How Paycor HR pricing compares to alternative Small Business Payroll solution?

When comparing Paycor HR to alternative systems, on a scale between 1 to 10 Paycor HR is rated 4.2
Paycor HRM is a software solution for small business payroll, and its top alternatives are Paychex Flex, Rippling, Zenefits, and Gusto. Based on the aspects outlined below, Paycor HRM is compared to its top alternatives:
  • Cloud/On-premise: Paycor HRM is a fully cloud-based payroll solution for small businesses. In comparison, all the top payroll alternatives of Paycor HRM are cloud-based solutions.
  • Cost: Pricing for the Paycor HRM solution starts at $99/month, plus an additional $5/employee/month fee. No free trial or version is available. In comparison, Rippling pricing starts at $8/user/month, Gusto pricing starts at $39/month plus $6/employee/month, Paychex Flex pricing starts at $39/month plus $5/employee/month, and payroll is available as an add-on on Zenefits for $6/employee/month. Zenefits has a free trial offer.
  • Customers/Industries: Paycor HRM provides payroll solutions to clients in hospitality, education, retail, manufacturing, healthcare, and professional services. In comparison, all top alternatives of Paycor HRM target similar customers and industries, and Rippling also has clients in marketing and advertising.
  • Functionality: Paycor HRM offers several powerful features, including payroll analytics, PTO tracking, automated onboarding, and tax services. Compared to its top alternatives, Paycor HRM offers time tracking as an add-on, but the functionality is part of the native feature set for Gusto and Rippling.
  • Popularity: Paycor HRM has over 2 million users and 40,000 clients in the United States. In comparison, Paychex Flex has over 700,000 users, over 200,000 customers use Gusto, and over 10,000 businesses use Zenefits.
  • Scalability: Paycor HRM provides payroll solutions to companies between 50 and 1000+ employees. In comparison, all top alternatives of Paycor HRM are equally scalable payroll solutions.
  • Support: Clients that use Paycor HRM can reach support via the following channels: a knowledge base, FAQs, phone, and a chatbot. Compared to its top alternatives, Paycor HRM does not offer support via email like its leading alternatives and does not have a live chat channel like Zenefits and Gusto.

How can the team at ITQlick help?

The science of TCO (total cost of ownership) may not be easy to calculate. If you seek to get detailed info about the TCO, get in touch with ITQlick experts. Contact us today and get up to date, detailed quotes.

Author

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.