Best option for companies with under 500 FTEs with robust functionality and competitive pricing
May 17, 2023

Best option for companies with under 500 FTEs with robust functionality and competitive pricing

Elizabeth Carroll, MBA, SHRM-CP | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Paylocity

We use Paylocity as our Human Resources Information System (HRIS) and most its adjuvant modules (Recruiting, Benefits, Expenses, Performance, Timekeeping, Payroll, etc). We have about 150 employees in 22 states who all work remotely so we needed a robust system that was easy for users to navigate, but comprehensive enough for the company. I personally have vetted, implemented, and used several other softwares, so finding the right fit for my current company was fairly easy - Paylocity was on the short list from the beginning. I find Paylocity to be the most all-encompassing and cost-effective. What we need it to do (the core HR and payroll functions) it does really well. But what we really find value in is the other modules that all link together. It's one database, instead of several so updates are made throughout Paylocity. Paylocity makes Human Resources administration easy.

Pros

  • Timekeeping
  • Payroll
  • Performance Management
  • Recruiting

Cons

  • Customer Service after Implementation
  • Benefits Administration
  • E-Sign Documents for Employees
  • Reduced Cost
  • Reduced or Eliminated Payroll Errors
  • 100% Compliance in all the Key Areas
  • Better Insight into Employee Demographics
We are a company with a small team of 3 (Talent Acquisition, HR, and Payroll) so we need software that streamlines and integrates all the various aspects of hiring, employing, and off-boarding employees. Paylocity has automated every aspect of our HR department. From talent acquisition to off-boarding, Paylocity (mostly) seamlessly manages the employee life-cycle so we can focus on strategic initiatives that drive value for the company.
Paylocity's employee engagement tools aren't something that we really use. Slack is our go-to for communications for a 100% remote company so Paylocity's Community page and Impressions aren't something our employees have embraced. I do still push people to Community for updates from HR, but we only see 10-15 employees view the announcements within 7 days of publication - so not great engagement. Surveys is a useful module and one I have used but it lacks some of the functionality that Survey Monkey offers so we only use Surveys for simple HR and Benefits surveys.
Paylocity is a nice middle ground between functionality and cost. You get everything you need and more for a reasonable amount per month. They also don't nickel and dime you for add-ons which we liked. I will say that for over 500 employees, I like UKG the best, but they are also the most expensive out of the softwares I evaluated in 2022. Paycom also has a really nice system and was our second choice after Paylocity.

Do you think Paylocity delivers good value for the price?

Yes

Are you happy with Paylocity's feature set?

Yes

Did Paylocity live up to sales and marketing promises?

Yes

Did implementation of Paylocity go as expected?

Yes

Would you buy Paylocity again?

Yes

I would image that Paylocity would work well for companies of any size - it is capable of scaling up or down as needed and includes modules that make things easier, like Expenses. The Expense module links into Payroll for easy reimbursement.

There are some quirky things about Paylocity that make you wonder why something is the way it is, but they are constantly making updates so I imagine some of these things will be resolved over time. One example I have is custom fields in Expense. In the core Payroll/HR module you can have custom fields that can be reported on, but in Expense, custom fields can't be reported on. So that's what I mean by quirky. And customer services doesn't know why that is - it just is that way. I just submit a product update request anytime I run into things like that.

Paylocity Feature Ratings

Employee demographic data
10
Employment history
10
Job profiles and administration
8
Workflow for transfers, promotions, pay raises, etc.
10
Organizational charting
3
Organization and location management
10
Compliance data (COBRA, OSHA, etc.)
10
Pay calculation
10
Support for external payroll vendors
Not Rated
Off-cycle/On-Demand payment
10
Benefit plan administration
6
Direct deposit files
10
Salary revision and increment management
10
Reimbursement management
9
Approval workflow
10
Balance details
10
Annual carry-forward and encashment
7
View and generate pay and benefit information
10
Update personal information
10
View job history
Not Rated
View company policy documentation
10
Employee recognition
10
Tracking of all physical assets
10
Report builder
8
Pre-built reports
8
Ability to combine HR data with external data
1
Performance plans
10
Performance improvement plans
10
Review status tracking
8
Review reminders
8
Multiple review frequency
10
Create succession plans/pools
5
Candidate ranking
5
Candidate search
5
Candidate development
Not Rated
New hire portal
9
Manager tracking tools
5
Corporate goal setting
8
Individual goal setting
10
Line-of sight-visibility
2
Performance tracking
10
Job Requisition Management
10
Company Website Posting
10
Publish to Social Media
6
Job Search Site Posting
10
Duplicate Candidate Prevention
10
Applicant Tracking
8
Notifications and Alerts
8

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