Paylocity Review: Is it Right Payroll and HR Solution for Your Business?

What is Paylocity?

Paylocity is simple and intuitive HR software. This all-in-one solution offers separate products for payroll, workforce management, HR, talent management, benefits, employee experience, and data insights. To fuel its clients’ success, Paylocity offers dedicated and on-demand support.

Recently, Paylocity has acquired Airbase Inc., a popular spend management software. This will help Paylocity expand its capabilities and offer better value to its customers from a single platform. This Paylocity review will discuss its major features and show how companies can benefit from this payroll solution.

Paylocity Products Offering

Major products included in the Paylocity suite are:

Payroll

Businesses can use Paylocity’s payroll feature to submit their payroll through a four-step navigation flow. Important payroll data like time, manpower allocation, and charges are automatically imported into the app, reducing manual and inaccurate data entry. The feature also allows companies to configure check types, time off accruals, and reporting features according to their workflow and work process.

Paylocity supports setting up General Ledger Mapping and offers 40+ configurable pre-submit audit flags to locate anomalies. Its Payroll Readiness Dashboard provides a comprehensive overview of crucial payroll tasks before the payday. It ensures tax compliance by auditing individual employees with tax geolocation. Paylocity’s tax experts prepare, file, review, and process tax documents on time.

Global Payroll

Paylocity offers global payroll services with its integrated payroll management platform, which provides real-time access to data across 100+ countries. It enables companies to make payments to local and global salaried employees from one place. With its dedicated tool, businesses can generate global or country-wise payroll reports.

Paylocity’s global expansion and consulting services team guides companies to adhere to unique statutory and compliance requirements in over one hundred countries. It also helps with in-country bank account setup, in-country talent acquisition, customized employment agreements, local labor requirements, and country-based compensation and benefits packages.

Human Resources

Paylocity’s process automation engine allows companies to automate manual tasks like onboarding using templates. Users can generate customizable reports using unlimited fields such as text, dropdown, number, date, and checkbox. It provides a secure and central location to store all employee documents and enables a holistic view of the employees. Admins can make informed staffing decisions with full positional and seal-level visibility of the employees. 

Paylocity’s Employee Self-Service lets employees access paystubs and tax forms, request time off, update personal data, and collaborate with their teammates 24/7. Its intuitive dashboard provides seamless access to work authorizations, compliance data, and certifications to reduce compliance risk. Businesses can also get assistance on policies, training, and other best practices from HR Edge.

Talent Management

Paylocity makes the application process easy for candidates with features like application through a QR code or texting a number, self-scheduling live interviews, and quick one-way video interviews. It also makes applicant tracking effortless for the companies.

Its mobile-friendly onboarding allows new hires to complete pre-boarding tasks from anywhere. Paylocity offers a personalized dashboard for employees, where they will get the welcome message, share their interests, and opt for training sessions. Its Journals feature allows one to keep track of performance throughout the year, which they can utilize to create performance improvement plans. Users can identify when the employees are ready for the next step with a talent assessment template and 360 feedback from peers and managers.

Paylocity also helps manage a company’s compensation strategy in accordance with its guidelines and business goals. It enables companies to create an interactive learning environment and track in-person learning for employee development.

Benefits Administration

Paylocity offers Benefits Decision Support in collaboration with Reclaim so employees can choose the most suitable plan. Its intuitive dashboard lets companies see key metrics, admin alerts, and enrollment statuses clearly, while its reporting feature generates insights for better budgeting. It even allows employees to contribute and submit claims from the same platform. 

Paylocity’s automation tools free employees from manual tasks and streamline their participation in crucial tasks. They also help companies manage compliance and obtain HR and payroll data from relevant applications through seamless integration.

Employee Experience

Paylocity has an online social collaboration hub for employees where every employee stays informed of what is happening in the organization through a mobile app. The software keeps the employees engaged, collects feedback, and creates action plans for improvement from the same place. Organizations can create customized employee recognition programs, quantify the employee experience, track real-time program metrics, and compare benchmarks.

Time Management

The time and attendance management feature of Paylocity allows companies to automatically enforce policy, receive real-time notifications, and generate detailed analytics. On the flip side, it offers employees self-service options and enables admins to review and approve time cards quickly. Companies can ensure flexible employee scheduling with features like smart forecasting, AI-predicted scheduling, shift swapping, and open shift claiming. 

For accurate time tracking, Paylocity offers badges, biometric time clocks, mobile apps, tablet kiosks, or web apps. Businesses can use geolocation, facial recognition, and fingerprint validation for additional security. To verify breaks and waivers, it supports advanced attestation. Paylocity’s advanced features, such as shift recommendations, budgeting, forecasting, and scheduling by attribute, help companies do more than standard scheduling.

What are the Benefits of Using Paylocity?

The benefits of using Paylocity include streamlined payroll process management, employee recognition and rewards, time and attendance tracking, and more.

Streamlined Payroll and HR Processes

Paylocity simplifies payroll and HR processes by automating regular tasks such as time tracking, employee attendance, payroll, and tax filings. It eliminates the need for manual input and reduces the risk of errors. Besides saving time, it allows HR teams to focus on strategic initiatives.

Attract Talents

Paylocity offers a user-friendly interface and useful features for the applicants. Making the application process easy, quick, and automated. It demonstrates the commitment of the company to ensure candidate satisfaction. By offering a pleasant experience, it helps companies attract top talents in the market. 

Employee Self-service

Paylocity empowers employees by offering them a self-service portal where they have access to their personal information, pay stubs, and time-off request procedures. This gives employees a sense of control and satisfaction and reduces the administrative burden on human resource teams. Moreover, it also saves time for all employees, which they would have spent otherwise on back-and-forth communication.

Employee Recognition and Rewards

Paylocity supports integration with other employee engagement tools for recognition and rewards programs. It also tracks employee performance and collects feedback on it. All these enable companies to reward deserving employees and publicly recognize their efforts. Activities related to employee recognition boost team productivity, improve employee engagement, and grow a positive work culture in the office.

Time and Attendance Tracking

Paylocity’s time and attendance tracking features collect accurate data that organizations can use for payroll calculations. Thus, companies can pay employees correctly, complying with local labor laws. It also saves them from using another tool for time tracking and switching between the platforms.

Automated Tax Filing and Compliance

Paylocity automatically calculates and files federal, state, and local payroll taxes, reducing the risk of errors and penalties. Automated tax filing also enables organizations to stay compliant with tax regulations and avoid costly fines.

Centralized Data Management for HR and Payroll

Paylocity is a centralized platform for storing and managing HR and payroll data. This means that companies do not need to use multiple tools for these purposes. Thus, Paylocity eliminates the inefficiencies and potential errors related to using separate systems. As all data comes from the same source, the format is consistent and easily accessible to all users, reducing the risk of data discrepancies or omissions. As a result, Paylocity improves the efficiency of HR and payroll processes.

Paylocity Pricing

Paylocity pricing is not available on its website. However, interested companies can request a demo and then learn the pricing structure.

Paylocity Support

Businesses can get customer service support from Paylocity by calling client support between Monday and Friday. Users can also email their queries to the support team. However, Paylocity does not offer live chat support to its clients or potential customers. Apart from these, users can access the PEAK Knowledge Base to self-serve themselves with help articles and how-tos.

Who Should Use Paylocity?

Small and medium-sized enterprises (SMEs), including those in education, financial services, healthcare, manufacturing, nonprofits, restaurants and hospitality, retail and wholesale, and the technology industry, should use Paylocity. Companies struggling with limited HR resources, manual payroll processing, complex benefit management, low employee engagement, and changing compliance scenarios will also benefit from Paylocity.

Who Shouldn’t Use Paylocity?

Paylocity is not ideal for businesses with limited HR needs, small budgets, or those seeking simple payroll solutions. Small businesses with only a few employees and basic HR requirements should go for other applications.

Paylocity Integration

As a payroll software, Paylocity comes with integration options with third-party tools. For that, users can visit its marketplace and choose from a large collection of accounting, background check, learning management, productivity, recruiting, recognition, time tracking, and tax credit applications. It also offers developer-friendly APIs that clients can use to get data flow into their system.

Paylocity Competitors

The competitors of Paylocity are listed below.

Rippling

Rippling is a comprehensive platform that integrates HR, IT, and finance functions. It is a unified solution for managing employee data, devices, and benefits. Companies that need to manage employee devices and IT infrastructure and focus on automation can go for Rippling.

ADP

ADP offers a broader range of HR and payroll services, including workforce management, talent acquisition and onboarding, advanced analytics, and benefits administration. Large enterprises with complex HR needs should use ADP.

BambooHR

BambooHR is cloud-based HR software emphasizing core HR functions such as employee data management, onboarding, and performance reviews. It is ideal for smaller to mid-sized businesses looking for ease of use, scalability, employee self-service, and affordability. 

Paylocity Verdict

Paylocity is an efficient payroll and HR solution ideal for small and medium-sized businesses operating in the United States. Its suite, which consists of payroll, time and attendance tracking, benefits administration, and employee onboarding, enables companies to manage their HR operations streamlined. Though it does not have the extensive global capabilities of ADP, Paylocity is a great alternative to ADP for businesses with basic HR and payroll requirements. Paylocity received the Geekflare Excellent Innovation Award.

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