Paylocity Review 2024
Employee satisfaction is key to a company’s success, and regular payments are a baseline for keeping employees satisfied. While manually disbursing payments might work for a small business with under 10 or even 20 employees, a more comprehensive solution is needed for medium-sized organizations and large companies. This is the main function of Paylocity, a trusted payroll software that enables smooth, hassle-free payroll processing for businesses.
Paylocity is not the only payroll software available on the market. However, it doesn’t just offer payroll management features. Paylocity also offers comprehensive HR functions, which adds to its utility. From talent management to benefits administration, Paylocity can be used in a range of HR contexts, making it a valuable Human Resources Information System (HRIS) that includes payroll functionality.
- Exceptional setup process and guidance for new users
- Reports & dashboards for HR data tracking and analytics
- Supports on-demand payments
- Offers global payroll for international employees
- No free trials available
- Lacks functionality for contractor payments
Paylocity review: User experience
One of the main reasons for Paylocity’s popularity among HR departments is its user-friendliness. The ease with which administrators, managers, and employees can all use the platform to complete HR tasks makes it appealing. In particular, the software’s payroll features have been mentioned in multiple user reviews as simple to use with reliable results.
Over time, Paylocity has gathered positive reviews from clients and users. It currently has a score of 4.4 stars out of 5 on G2 from over 2,700 reviews. Other software review platforms like Capterra and Gartner show a rating of 4.3/5 stars and 4.2/5 stars respectively. This shows that most users have a positive and satisfactory experience with Paylocity for payroll processing and other HR tasks.
Paylocity review: Cost
As with any enterprise software, an HRIS like Paylocity must fit into your organization’s budget. The best way to learn how much Paylocity costs for new users is to request a demo through the Paylocity website. That’s because there is no uniform pricing for Paylocity. The software has multiple features that can be added and uses a Per Employee Per Month (PEPM) pricing structure. So, the final cost of using Paylocity will depend on the number of employees and the range of features the client selects.
In addition to subscription costs, Paylocity charges an implementation fee to help get the software up and running. The implementation fee is usually between 10% and 20% of the yearly subscription cost.
Paylocity review: Seven key features
The main function of Paylocity is to simplify and streamline payroll processing. To that end, the software has many features that enable the smooth payment of salaries and wages to company employees.
Here’s a look at the seven most useful payroll processing features that Paylocity has:
1. Automated and custom payroll
One of the most useful aspects of Paylocity’s payroll software is it can be tweaked and customized according to your company’s pay structure and schedule. Paylocity users can create a payroll calendar that automates payments so it’s easier to view and track pay schedules. However, since the software needs to be reconfigured when changes are needed, you might need to reach out to Paylocity for the required modifications.
2. Tax filing and payments
Paylocity offers tax services in all 50 US states, as well as Guam, Puerto Rico, and the Virgin Islands. This includes auditing each employee based on their location to accurately calculate the right amount of taxes and ensure their compliance with local regulations. For certain locations outside the US, Paylocity’s sister company Blue Marble helps Paylocity users prepare for tax filings.
3. Tax compliance
Paylocity has a team of tax experts to ensure local tax compliance among clients. For all 50 states, Guam, Puerto Rico, and the Virgin Islands, Paylocity’s registered tax experts prepare and file taxes on behalf of their users, while reviewing the filings to ensure they adhere to local tax laws.
4. Direct deposits
Paylocity enables payments through direct deposit, allowing payments to reach employees’ bank accounts without hassle. These payments are automated, dependable, and reliable. They ensure that employees are paid the correct amount at the right time throughout the year.
5. On-Demand wage access
Some payroll processing software lacks flexibility in providing employees access to their salaries before payday. However, situations can arise where employees urgently require funds and may not have time to file additional paperwork and seek special permissions from their managers or the HR department. Paylocity’s On-Demand payment tool makes it easy for employees to access a portion of their wages before payday through its ESS portal.
6. Expense management
In addition to their salaries and wages, company employees can also seek reimbursement for expenses they incurred on behalf of the company. Paylocity has a dedicated expense management tool to handle such requests, simplifying the process of reimbursing employees for company expenses.
7. Payroll reporting
Paylocity has detailed attendance and time-tracking reporting features that help calculate wages at the end of the month. In addition, Paylocity grants users access to detailed reports that track key HR metrics to help minimize spending and aid informed decision-making among personnel.
Paylocity review: Additional features
Along with payroll processing, other HR areas where Paylocity has impressive functionality include:
- Benefits administration
- Employee learning and development
- International payroll
- Performance management
- Recruiting and onboarding
- Scheduling and time tracking
With such a wide range of functionalities for users, Paylocity offers an almost all-encompassing HR software solution. The only major gap in its features is the inability to make contractor payments since its payroll functionality is purely for employees.
Paylocity review: Customer support
Paylocity users get a dedicated account manager who can help them handle any difficulties they might face while using the software. Meanwhile, the implementation process includes an informative onboarding session so users are comfortable with the Paylocity platform.
It must be mentioned that Paylocity doesn’t have a 24/7 customer support channel. However, the customer support team can be reached via email (service@paylocity.com) and phone (888-873-8205). Paylocity account managers are available from 6 AM to 7:30 PM Central Time to answer any queries and solve any difficulties that clients encounter.
Paylocity review: Final verdict
The Paylocity software is perfect for a company that has a larger workforce. Medium-sized organizations with over 100 employees are the best fit for Paylocity as they justify the PEPM pricing model and the range of features that come with the HRIS.
Even though Paylocity doesn’t offer a free trial, you can judge whether Paylocity suits your company’s needs by booking a demo. If you choose Paylocity, the implementation team will help you master the software so you can take full advantage of all its features and derive maximum value.
Paylocity is an HRIS that can simplify HR administration for a growing company. The solution scales alongside your workforce size, making it perfect for companies looking to add new employees to an established organizational structure.
You can learn more about Paylocity by visiting the company website. Should the features and services appeal to you, schedule a demo to more definitively decide if it’s the right fit.
