Tag: Online payroll

Paycom Software, Inc., or Paycom, is an online payroll and human resource technology provider headquartered in Oklahoma City, Oklahoma, with offices across the country. It is credited for being one of the first companies to offer entirely online payroll services. Fortune and Forbes named it one of the world’s fastest-growing publicly traded firms, and Fast Company named it one of the World’s Most Innovative Enterprise Companies in 2022.

History of Paycom:

Chad Richison, who had previously worked in the payroll processing industry, launched Paycom in 1998. It started off as an online payroll service for businesses, but by 2001, it had expanded to include other services such as human resource management. Paycom began trading on the New York Stock Exchange on April 15, 2014, under the ticker symbol PAYC.

The company’s headquarters were relocated to a new 90,000 square foot office building in Oklahoma City in 2011. E-Verify, onboarding, expenditure management, and document storage were among the new services launched the same year.

Paycom expanded its headquarters by 90,000 square feet in 2014, essentially tripling the size of its offices. The company finished construction on a third building in 2016, bringing the total square footage of its office space to almost 250,000 square feet. Paycom finished its fourth building on its corporate campus in 2018, bringing the total size of its offices to almost 500,000 square feet.

CEO chad richison earned $211.13 million from Paycom as part of a 10-year performance deal in 2020, making him the highest-paid executive in the United States. The majority of the remuneration is in the form of stock options that will only vest if the company meets certain stock price benchmarks by 2026 and 2030.

Paycom released Beti, an update to its payroll system that allows employees to perform their own payroll, in July 2021. Now, they have opened a new firm in Grapevine.