Glad to be a Paycom client

Paycom’s ease of use greatly reduces the amount of time it takes to process payroll. A typical payroll takes about 30-45 minutes to process for our four branches. We found ADP’s system to be just the opposite. It was a cumbersome system that was not at all intuitive or user friendly. As a result, most payrolls took anywhere from 3-4 hours to process, sometimes longer. Literally every payroll we processed in the 6 months with ADP required some level of help from one of their representatives. I vividly remember being on hold for over an hour waiting to get an answer to a question. The less time we can spend processing payroll, the more time we can spend on value added activities. Paycom has been an excellent partner in that endeavor and we are glad to be a client.
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ID
#898636 Review #898636 is a subjective opinion of poster.
Service
Paycom Payroll Services
Reason of review
Good quality
Paycom's reply to:

Paycom's Future

It is now eight years since this was posted and Paycom now has a market cap of over $3 billion. Our employees and customers both can attest to the priority we place on customer service. We remain confident that our service strategy, sales skills and proprietary development processes will continue to be key components of our continued success. Our plan is to continue to operate in the best interest of our customers, employees and shareholders.
author's review
ID
#135988 Review #135988 is a subjective opinion of poster.
New Reviewer

I am currently an employee at Paycom and i think there is definetly a bright future for Paycom. There are also alot of things Paycom needs to improve on. I am going to list a couple of things I think Paycom needs to change that will help us Paycom in the long run.

I was doing some calculations on a revenue per employee basis compared with other current public payroll companies. We (Paycom) as a company has somewhere around 200 employees and we produced 14 million dollars in revenue last fiscal year. It calculates to $70,000 of revenue produced per employee. ADP produced 9 Billion dollars of revenue last fiscal and employees 47,000 people. ADP produced $180,000 of revenue per employee. Paychex is another payroll company that is very similiar to Paycom. It employs 12,200 people and it produced 2 Billion dollars of revenue last fiscal year. The calculations come out to be $163,000 of revenue per employee.

What all these numbers mean is that Paycom running about 2-3 times less efficient then other current payroll companies. This is not going to help Paycom in the long run. Paycom really needs to look at their strategies and figure out what they need to make Paycom more effecient. They really need to find out if having 99% client retention is really something that can be actually cost effecient. What good does it do to go public and then your 1st quarter operatin margin is 3 times worse then your competitors. This will catch investors eyes and not in a good way.

As a payroll specialist I find it too easy for customers to call me and ask questions when I know if they have logged in and tried they could of figured it out theirself. This is really great and nice for the customer, but it is not great for all the specialists that have to take all those kind of calls all day and can get all of our tax issues done on time. I think we are very understaffed in the first place. Having this strategy might produce enough revenue in the short term, but its not good for the long term health of the company. In five years, if Paycom ever goes public. We will run into huge operating margin problem and also see an employee retention problem because all of it will stem from our 99% client retention (spoiling the client) strategy.

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1 comment
#45414

I must say that a person that is an employee of Paycom and writes a complaint about their employeer is either truly gutsy or just plain ***. As a former employee of Paycom myself, I realize that this company is horribly mismanged and has no clue of how to take a company public.

This company was bought out by Welsh, Carson, Anderson & Stowe which is a VC firm.

It is also true that Welsh Carson has Paycom by the BALLS! I agree with everything Jennifer said and wish you the best of luck!

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Paycom's reply to:

Paycom: The Online Payroll Company:One big lie after another

In response to the accusations aimed at Paycom in the original post and to some of the corresponding posts, Paycom would like to ask any readers or posters to this particular claim to consider the following.

Not everyone who wants to work for Paycom is the right fit. We have extremely high standards. Hiring the best and the brightest allows us to grow our customer base, continue to develop cutting edge technology and provide our customers with first-class, experienced service and support.

We have proof our model works. Paycom has been honored seven years in a row by Inc. 500/5000, an exclusive ranking of nation’s fastest-growing private companies. We have grown from one office in Oklahoma City in 1998 to 20 offices across the nation in 2012 with over 500 employees and thousands of customers across the nation. Paycom was recently named to the prestigious list of Oklahoma’s Best Places to Work for 2012.

Our future is bright. We are currently adding 20+ employees each month, have more sales offices in the works and more and more companies are choosing Paycom as their Human Resource technology provider.
author's review
ID
#122556 Review #122556 is a subjective opinion of poster.
Service
Paycom Payroll Services
New Reviewer

Paycom is a 3rd party online payroll and hr administrator. The concept is great,but the major problems begin at the corporate level, particularly in management.

I will never do business with a company with such low hiring standards and poor regard for their employees, nor would I ever recommend their services to any person I know in the accounting or HR field. For one, they are constantly hiring and firing account managers. For example, they just laid off 8 out of 16 employees within their Denver office. How can I rely on a company that seems to be sinking faster than the Titanic.

Save yourself the trouble and stick with you current Payroll Administration and HR outsourcing or find one of the companies that have been around for more than just 10 years. Good luck to you.

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30 comments
#538545

4 years after these comments about Paycom's poor management and product, Paycom has tripled in size. New corporate office, boatloads of new products, employee hundreds and hundreds of employees. Guess they WERE doing something right and Chad Richison wasn't just "a loose cannon"

1 0
#45415

PAYCOM IS A TERRIBLE COMPANY STAY AWAY!!!!!!!!!! I am a client (about to leave) with Paycom and they are the worst payroll company I have ever seen.

They have totally *** our payroll beyond belief. BUYER BEWARE!!!!!!!!!!!!!!!!!!!!

5 3
#39512

I remember when that happened at the end of May. They hired a bunch of new people and then fired them a week later with NO cause.

Then they turned around and fired 2 people from each sales team in the company. I was told it was a "cut back in the budget" but on this blog people want to act like the only reason people were let go was because of not hitting sales numbers! Its a bunch of *** and they treat their employees like *** I know people that still work there and they all tell me it has not gotten any better. I also found a better job with more pay, wayyy less stress, more stable company and a lot closer to my house.

Paycom's upper management is a joke and so are the sales managers. The sales managers have no management experience. They are just people that sold 1 or 2 big deals.

Its a horribly mismanaged company. I think its only a matter of time for The Internet Payroll Company

1 3
#35900

I was hired by paycom and left the company I worked for because the managers made me believe it was a great job and stable position. I was with the company for 2 weeks when all the layoffs happened.

I did not even get the opportunity to meet a quota. I hadn't even finished training. I don't know exactly why it happened, but I can only speculate. It seems that they probably tried to grow to fast or had to many reps for the market size.

Yet whether it is Paycom, ADP, or Paychex, they all have high turnover. But usually you get the opportunity to prove yourself. Unfortunately I did not with Paycom. They have a good concept, but I've found that there are many online payrolls now.

Luckily, I was able to find a better job with a better pay and with a more stable company that values their employees.

So I thank Paycom for that. I couldn't have done it without their upper management's poor planning.

0 2
#35873

The truth can been seen in this blog. Paycom is an awful company with a reputation that is getting worse by the day.

Their CEO is a loose cannon with no management skills or people skills. Most of the sales managers are a total joke. Their sales managers have no training they are just forced to manage a team of 10+ sales reps and dont know how to motivate at all. The pricing structure is dishonest as are the sales staff.

They have lost a lot of clients due to their VC buyout and is not the same Paycom as even 2 years ago.

For those prospective Paycom clients out there... DO NOT USE THIS SERVICE!

0 1
#29558

What not many people know is the reason Paycom sucks so bad now is because it was bought by a VC group. It is no longer the local owners calling all the shots.

There is no way the 2 offices they have can support a sales force of 90 reps. Client sevice has deteriorated so bad since the buyout.

Their product is stagnate, and turnover is high. This is what happens when you use a company that is willing to sell-out.

0 1
#27642

Paycom is a great company and anyone who says otherwise has no ideas what they are talking about, or just got fired. Think about it, if u r meeting all your quota's, y will a company want to fire u.

Is the company so crazy, that they will fire you and keep someone less productive than urself? Yeah, lazy people complain. Hard working people get the job done. So for anyone complaining, u probably werent doing your job.

And also to prove how great the company is, they make good decisions-they got rid of U. So whine like little girls and complain all you want paycom will continue to grow, and hopefully another company will make a mistake and hire u.

1 3
#21108

Take this from someone that knows, Paycom has several major faults and is not the best/only solution on the market. Most of their sales people have no payroll or sales experience whatsoever and really do not know what they are taking about when it comes to payroll or the capabilities of their application.

In addition, Paycom is a "sales organization" meaning their sales are Volume Sales not Consultative Sales. Their whole interest is to make everyone a client of Paycom no matter at what cost. They have more sales people than they need who all have very small territories and very large quotas with a very high turnover/burnout rate. This is very similar to the environment of ADP.

The feed all of the employees with a line of garbage about the company going public when the whole time it is the private equity firm calling the shots. The pricing is totally varible and depends on "how much they think the consumer will pay." In addition, the HR capabilities of Paycom's application is very diluted and does not have the functions of an HR suite from applications such as Ceridian or even ADP...

all it really does is just track information and create reports in Excel... that isnt true HR.

2 0
#20044

I've done business with Paycom for over a year now and let me tell you what a relief it is to not have to fight against a computer to get a human on the phone. I call, a HUMAN answers.

I get transfered to MY specialist, and if she isn't there, one of her co workers is more than happy to assist me. The one time we did have a tax problem my specialist fixed it the day I made her aware of the situation.

Paycom has sent out sales people to train our new supervisors on how to use their system and run our payroll. You can't get that with ADP or Paychex!

1 0
#20043

I've done business with Paycom for over a year now and let me tell you what a relief it is to not have to fight against a computer to get a human on the phone. I call, a HUMAN answers.

I get transfered to MY specialist, and if she isn't there, one of her co workers is more than happy to assist me. The one time we did have a tax problem my specialist fixed it the day I made her aware of the situation.

Paycom has sent out sales people to train our new supervisors on how to use their system and run our payroll. You can't get that with ADP or Paychex!

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