Trends Shaping the Professional Employer Organization (PEO) Industry
Look ahead to the promising future of PEOs, uncover industry trends, and examine the numerous PEO benefits they offer businesses, solidifying their role as strategic allies.
In today’s fast-paced work environment, there’s no room for error. This rings especially true for HR professionals, who constantly look for tools and technologies to streamline their tasks and optimize their productivity.
However, the HR tools market is flooded with options, each with a unique set of services, features, and pricing models, making the selection process quite daunting.
After thoroughly researching and comparing numerous contenders based on their pricing, features, and standout attributes, we have selected the best HR tools for companies for 2024.
Running a business and its complexities can be challenging, but the introduction of HR tools has changed how we work.
Essentially, HR tools are a collection of tech solutions that streamline everyday HR tasks.
Since traditional HR processes are often compliance-driven and paperwork-heavy, manually performing these tasks can be time-consuming and prone to errors.
HR tools automate and simplify these processes, thus saving time, reducing costs, and making employee management a breeze. Whether bringing on new team members or conducting exit interviews for those moving on, HR tools can cover it all.
Depending on what a business needs, there are simple HR software options for daily admin tasks like tracking vacations and timesheets or more advanced systems geared towards recruitment and employee performance management.
Whether you’re a growing startup, a small business, or a global corporation, the right HR tool can reshape your administrative landscape, allowing you to focus on what truly matters – nurturing and growing your team.
Investing in top-tier HR tools isn’t just an option – it’s a strategic move that changes organizational operations, reshaping hiring practices, decision-making processes, and overall company dynamics.
With top-quality HR software, teams can streamline processes, maintain regulatory compliance effortlessly, and elevate overall workforce efficiency. From automating mundane paperwork to fostering seamless communication between employees and leaders, the benefits of automation are undeniable.
Deel has established itself as one of the most innovative global HR and payroll solutions vendors. While Deel started as a simple tool for managing international contractors, it has added more functionalities, including hiring and global payroll, to HR and office perks, making it a complete all-in-one solution for global corporations.
Pros |
Cons |
24/7 customer support |
No built-in time-tracking tools |
Option to build your own integrations
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Lack of a mobile app for employers/workers |
EOR service in over 100 countries |
High cost with per-worker pricing |
Numerous software integrations |
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Multiple payment methods, including local bank transfers, SWIFT, PayPal, Payoneer, and cryptocurrency |
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Deel offers a variety of HR solutions, starting with a free tier for managing up to 200 workers and extending to specialized services for hiring contractors and full-time employees internationally, with prices starting at $49 and $599, respectively. A free trial is available, enabling businesses to explore Deel’s set of features.
Paycor is a versatile HR tool for companies, combining ATS functionalities, HRIS, and payroll services, along with over 220 integrations with the most popular business apps.
Paycor’s cloud-based platform is valued for its ease of use, versatile mobile app, and compliance management features, which help small businesses stay in line with regulations as they grow their company.
Pros |
Cons |
Automated payroll |
Implementation can be slow, taking a few weeks to months |
Comprehensive benefits administration tools |
Some essential HR management suite features may require additional fees |
User-friendly platform with a customizable dashboard |
Time tracking is only available as an add-on |
Multiple paid plans are available |
Limited geographic restrictions for clocking in/out on mobile devices |
360-degree feedback and team chat features |
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Paycor’s pricing is structured around four main plans, starting at $99 for small businesses with fewer than 50 employees and an option to get a custom quote for midsize companies with 50 to 1,000 employees.
On top of that cost, they charge on a per-employee-per-month basis (PEPM), and their subscription models range anywhere from $6-16 PEPM, depending on the modules included and the size of the company.
A 14-day free trial is available, allowing businesses to test the platform risk-free.
Justworks, the leading HR tool for startups, transforms the PEO market with its user-friendly platform, modern benefits, and exceptional features. It stands out for its ease of use, 24/7 customer service, and non-PEO payroll option, making it an ideal choice for high-growth companies looking for efficient HR management without requiring extensive in-house HR staff.
Pros |
Cons |
Comprehensive payroll and compliance management |
The payroll process can be complex for some employers |
Competitive benefits management through the PEO model |
Applicant tracking relies on third-party integration |
User-friendly interface and easy setup |
Additional fees for time tracking and certain advanced features |
24/7 customer support and access to HR consultants |
It can be costly for larger teams due to the per-employee pricing structure |
No additional fees for international contractor payments |
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Justworks offers transparent pricing with two tiers, Basic and Plus, without a free trial. The Basic plan starts at $59 per month per employee and covers essential HR functions such as payroll management, employee onboarding, benefits, and workers’ compensation, while the Plus plan, priced at $99 PEPM, extends these services to include health insurance coverage and other functionalities.
Instead of sifting through resumes, ATS tools significantly reduce the time and effort required to identify top candidates.
ATS tools also bring a level of organization that’s hard to achieve manually, with resume parsing, tracking all candidate interactions, and streamlining the recruitment process.
The main benefits include improved efficiency, better candidate experience, and the ability to make data-driven hiring decisions, leading to a more effective recruitment process and a stronger team.
Greenhouse is recognized for its ability to streamline the hiring process for HR teams and recruiting professionals, making it a go-to solution for global corporations.
It provides a decked-out suite of tools and a thorough Applicant Tracking System (ATS) that addresses main recruitment challenges like candidate tracking, communication within hiring teams, and maintaining a structured hiring process.
Pros |
Cons |
Detailed insights and analytics |
The initial learning curve for those new to the platform |
Advance ATS functionality |
May be costlier compared to other solutions |
Wide range of integrations |
Limited customization options |
Customizable recruitment workflows |
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Greenhouse offers a pricing model tailored to an organization’s size, accommodating small, mid-sized, and large companies. The pricing details are provided upon request, and potential companies can contact Greenhouse directly to get a quote that matches their specific needs.
Recruitee is a collaborative hiring software that enables HR teams and their organizations to work together effectively to find, interview, and hire top talent. It is designed to provide a seamless solution for managing the entire recruitment process, from creating custom pipelines to evaluating and hiring candidates.
Pros |
Cons |
Collaborative hiring features improve team involvement |
Some employers find the reporting features less comprehensive, making data management challenging |
Customizable workflows and pipelines enhance efficiency |
Candidate search functionality within the ATS can be time-consuming |
Seamless integration with a wide range of tools and platforms |
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Recruitee’s pricing structure is designed to be accessible, with monthly or yearly subscription options and an 18-day free trial for new users. After the trial, pricing starts from $199 per month, providing access to all core functionalities needed for effective recruitment.
Lever is the perfect platform for growing companies of all sizes, from small startups to large enterprises. It offers an intuitive design, has a straightforward implementation process, and integrates both Applicant Tracking System (ATS) and Customer Relationship Management (CRM) functionalities within a single platform.
Pros |
Cons |
Integrates ATS and CRM functionalities for comprehensive management |
Pricing information is not transparently available on the website |
Offers robust analytics and advanced integrations |
No free trial available, limiting initial hands-on evaluation |
Supports customized application forms and efficient resume management |
Lacks a mobile app, potentially limiting accessibility on-the-go |
Lever does not offer a free trial, and pricing details are not directly available on the website. Interested businesses need to contact Lever directly to obtain a quote that suits their recruitment needs.
Monitoring and improving employee performance is complex – especially within the new hybrid and remote working models.
However, HR professionals can cut through this complexity and gain actionable insights by leveraging real-time feedback and data-driven evaluations using performance management software.
Such tools enable a more objective and continuous review process, fostering a culture of transparency and accountability for everyone.
Leapsome is an all-in-one performance management software designed to boost employee development, productivity, and engagement. The platform aims to elevate employees to peak performance through instant feedback, learning experiences, and personalized development paths.
Pros |
Cons |
User-friendly and intuitive platform |
Pricey compared to competitors |
Dedicated customer success manager |
Modular pricing can increase costs |
Customizable and flexible setup |
Enterprise-level pricing requires a quote |
In-depth reporting on various organizational levels |
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Leapsome offers a 14-day free trial to explore its features. The starting price is $8 per user per month, with the final cost depending on selected modules, contract length, and user count. While the base plan includes a broad range of tools, additional features such as ongoing feedback and learning paths may cost extra.
PerformYard is a robust platform designed to help small businesses streamline their performance management processes. It emphasizes the importance of continuous feedback, allowing managers to provide real-time recognition and constructive criticism.
The platform stands out for its user-friendly approach to performance management, easily adapting to different review styles.
Pros |
Cons |
Excellent continuous feedback features |
May not include all functionalities for HR processes |
Dedicated customer success manager in plans |
Annual billing and minimum pricing requirements |
Customizable and user-friendly platform |
No sentiment analysis feature |
Records feedback by employee |
No mobile app for iOS and Android |
PerformYard’s pricing is structured to meet the needs of small businesses, with performance management solutions starting from $5 to $10 per employee monthly. An additional fee of $1 to $3 per employee monthly is applicable for those interested in tracking employee engagement.
These rates are based on annual billing, with enterprise companies being advised to request a custom quote for a package including additional features. In addition, PerformYard also offers a free trial.
Peoplebox is an innovative OKR (Objectives and Key Results) platform for dynamic and fast-growing companies looking to create a results-oriented culture and execute fast as they grow.
The software is perfect for simplifying the process of setting and tracking performance goals, ensuring regular feedback, and running comprehensive 360-degree reviews.
Pros |
Cons |
Streamlined performance management |
Lack of an option to update activities for individual goals during reviews |
Integration with popular collaboration tools like Slack, Microsoft Teams |
Needs UI improvement |
Empathetic features like suggested topics for 1:1s and ‘coffee connect |
Occasional issues with calendar integration |
Powerful automation capabilities |
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Continuously evolving with improvements |
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Peoplebox offers a free trial option. Their subscription-based pricing models start at $7 per employee per month, which caters to a wide range of organizational needs and sizes.
Payroll software is a fast and dependable solution for tackling the modern challenge of handling a business’s payroll.
These tools automate the dull and error-prone task of payroll processing and ensure compliance with tax laws and regulations.
Additionally, these platforms often come with added features like direct deposit, self-service portals for employees, and detailed reporting, improving overall efficiency and employee satisfaction.
Papaya Global is a cloud-based software platform that provides solutions for global workforce management. It makes international payroll and various HR tasks easier, assisting HR departments with hiring and managing employee benefits, and it works for businesses in more than 160 countries.
Pros |
Cons |
Global coverage in 160+ countries |
Customer service is primarily chat-based |
Multilingual employee portal and support for multicurrency payments |
EOR aggregator model may be complex for some |
Robust analytics and reporting |
Limited HR features compared to other solutions |
Convenient, fast, and secure embedded payment system |
May be costly for some businesses due to management and setup fees |
The pricing model is tiered and includes:
It’s important to note that Papaya Global offers a free demo of its services.
OnPay stands out for its ease of use, affordability, and extensive features, specifically designed for small businesses. With a user-friendly cloud-based platform, OnPay simplifies payroll processes and HR tasks, making it a strong contender for companies looking to streamline their payroll processes in 2024.
Pros |
Cons |
Affordable and transparent pricing starting at $40 per month |
Time off data may not sync seamlessly with other system parts |
Self-service portal for employee access |
Tax document mailing incurs additional fees |
Integrations with top accounting platforms |
Payroll approval process is not fully automated |
Provides a wide array of HR resources and tools |
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OnPay offers a generous 30-day free trial period with full access to their services. OnPay’s pricing model is straightforward, with a base rate of $40 per month plus $6 per user, making it an accessible choice for small businesses looking for a complete payroll solution without the complexity of multiple tiers.
Multiplier offers an all-in-one platform for global employment, serving as both payroll software and an Employer of Record (EOR). Its clear and user-friendly payroll dashboard simplifies payroll processing for various pay periods, making it an attractive option for startups looking to tap into global talent pools without the hassle of establishing foreign entities.
Pros |
Cons |
Simplifies global employment and payroll processes |
Initial setup can be complex |
User-friendly platform |
Features may exceed the needs of startups or small businesses |
Offers robust HR and benefits management tools |
Lacks a free trial option |
Multiplier offers two main plans:
Other plans, such as “Global Payroll” and “Immigration”, are also available, with prices provided upon contacting Multiplier’s sales team. A free trial of Multiplier is also available.
In the landscape of 2024’s HR tools, businesses have plenty of choices, with offerings that cater to every need, from global payroll solutions to specialized recruitment platforms.
As we move forward, it’s clear that adopting these sophisticated HR tools is not just a trend but a fundamental shift in how companies operate, promising a future where human resources management is more strategic, data-driven, and, most importantly, human-centered.
Disclosure: Some of the products featured in this blog post may come from our partners who compensate us. This might influence the selection of products we feature and their placement and presentation on the page. However, it does not impact our evaluations; our opinions are our own. The information provided in this post is for general informational purposes only and should not be considered as legal, tax, accounting, or investment advice. For advice on specific issues, please consult with a qualified professional.
Senior Content Writer at Shortlister
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