paycom chad richison

Paycom, an  HR and payroll solution that allows employees to do their own payroll, has expanded its headquarters in Oklahoma City. The company is adding a fifth, 318,000-square-foot building, pushing its total state-of-the-art, workable square footage to 818,000. Paycom’s corporate campus features four acres of greenspace, a large gym, and two cafés that offer subsidized catered lunches with a daily healthy option, and is powered using 100% renewable grid electricity from wind power.

Paycom’s expansion also will be a boon to the Oklahoma market as the new construction is expected to provide thousands of jobs. This corporate expansion is a product of the company’s continued overall growth since its inception in 1998. Currently, they have well over 5,000 employees across the company, many of whom are in Oklahoma City.

Chad Richison, Paycom founder and CEO, reflected that this growth “is a testament to our people, value proposition and ability to add a record number of new clients to the Paycom solution.” Chad continues to innovate and transform the digital workplace, both in products and in Paycom’s own workplace. 

Paycom’s Latest Revolutionary Solution to Payroll

Paycom’s most recent solution to payroll and human resources is its online payroll tool, Beti®. Beti lets employees do their own payroll right in the Paycom app, seamlessly pulling live data on their hours worked, approved expenses, and compensation changes ensuring employees’ pay is accurate well before payroll is ever run. This software benefits HR too as it streamlines time-consuming payroll practices and reduces employer liability. Human Resource Executive magazine named Beti a Top HR Product of 2021 and Fast Company highlighted Beti® in their 2022 list of the World’s Most Innovative Companies.  

The launch of Beti is just one of the nearly 2,000 product enhancements to enhance the employee experience that Paycom rolled out. The company saw impressive results from its busy year:

  • Revenue climbed by more than 25% to $1.056 billion. 
  • Adjusted EBITDA increased to $419 million, representing nearly 40%. 

Paycom’s own employees are seeing the fruits of Chad’s leadership, too.

A Better Workplace for All

Paycom continues to expand its diversity, inclusion and belonging strategy to help strengthen its culture, drive innovation and enhance the employee experience. Their dedication to these values has led to tangible progress.

Paycom shares that women represent 51.3% of the workforce and ethnic minorities represent 33.6%. First- and mid-level officials and managers are 48.5% female, and executive- and senior-level officials and managers are 45.2% female. 

Chad ensures his staff is heard and supported in other ways. For example, the company employs well-being advisors who offer a customized and effective approach to learning skills and finding solutions for mental health and well-being obstacles. The program provides employees with a confidential mental health and wellness resource — individually and in group settings. They can also connect employees with external resources. 

The company has received national recognition for its company culture, including:

  • Add Forbes Top Workplace award here
  • Add Best employer for females by Comarably. 
  • Received Chief Learning Officer® magazine’s Learning in Practice Innovation award for their employee listening and engagement series called Better Conversations.
  • Named a Best Company for Career Growth in 2022 by Comparably, a workplace culture and review site.
  • Listed in Oklahoma’s Top Workplaces list, marking its ninth consecutive year among the Sooner State’s top employers.
  • Named a Best Company for Career Growth in 2022 by Comparably, a workplace culture and review site.

With the addition of this building, Chad Richison is ensuring Paycom has ample growth opportunity and space for years to come at its corporate headquarters in Oklahoma, creating thousands of jobs and diversifying the economy. The industry cannot wait to see what’s next.

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