History
Paycom was founded in 1998 by Chad Richison, who previously worked in the payroll processing industry. [8] It began as an online payroll service provider for businesses, and expanded to offer additional services including human resource management in 2001. [3] On April 15, 2014, Paycom opened for trade on the New York Stock Exchange under the ticker symbol PAYC.
In 2011, it released additional services including E-Verify, onboarding, expense management, and document storage. [9] In 2014, Paycom built a 90,000-square-foot addition to its headquarters—effectively doubling the size of its offices. [10] The company completed construction on its third and fourth buildings (in 2016 and 2018, respectively). In 2024, it opened its fifth building, bringing the total square-footage of its corporate campus to 815,000. [11] [12] [13] In May 2022, Paycom held a grand opening ceremony for a new 150,000 square-foot operations center in Grapevine, Texas. [14]
CEO Chad Richison was the highest paid executive in the United States in 2020, earning $211.13 million from Paycom as part of a 10-year performance contract. The compensation consists mostly of stock shares that only vest if the company reaches specific stock price benchmarks by 2026 and 2030. [15] [16]
In 2021, Paycom announced the release of Beti®, an enhancement to its payroll system allowing employees to complete their own payroll. [17] Later that year, they bought the naming rights to the Paycom Center, home of the Oklahoma City Thunder. [18]
In April 2023, Paycom launched Global HCM™, a human capital management software available in over 190 countries and 15 languages and dialects. [19]
In December 2023, Paycom announced its next step in HR automation, GONE®, an enhancement to existing Time-Off Request software. [20]
In July 2025, Paycom launched IWant™, [21] a command-driven AI engine allowing users to seek information about employee data without having to navigate through the software. [22]
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US$1.88 billion (2024)