Benefits and people are great, but Executive leadership is concerning
Pros
The health benefits are good, 401k match is 50 cents on the dollar for up to 8%, Some roles have restricted stock units, it has a good ESPP plan with a 15% discount. Most people are nice to work with, knowledgeable and care about their job. It is a growth company, so despite the economy, it is still doing okay but not as good as it has in the past.
Cons
The kind and innovative culture that Paylocity was known for is disappearing ever since the new CEO started. As a former CFO, his mindset appears to be only on the bottom line and he seems to look down on others. In my experience and opinion, he is less of a leader and more of a dictator. Because of this management style, other leaders do not offer input. A company will never be great if it cannot allow for a diverse pool of knowledge prior to making a decision. This is much different than the Paylocity when I started here many years ago. People are now expendable and instead of layoffs, the leadership creates impossible work conditions that make people leave or they have unnecessary reorganizations that also get rid of people without having to pay severance. More and more jobs are pushed overseas too. The long term vision for making a great quality product is instead about short term gains and stockholders. The average annual raises are very low at two to three percent yet the workload for each employee has risen considerably. Last year, three pay bands had RSUs taken away at the very last minute prior to the annual payout and informed it was to keep the outstanding stock at a certain percentage. However, nothing was provided in place of the stock grants such as an increased bonus payment. This was a lose of thousands a year in compensation for hundreds of employees. Their managers were not provide any good guidance to explain this change to their employees and had to deal with the brunt of the sudden backlash of frustration. The lack of communication on such a major impacting change to income was very disappointing, I enjoy my work and my own team. I am lucky to be a part of a good group for now but that could change if I am reassigned or my own manager leaves. It is the Executive leadership, mainly the CEO, that causes concern for the future of Paylocity. Several great employees have been also noticing this and attrition rates are up as so many have since left the company and continue to leave on their own. That kind of leadership funnels downward and we are all noticing that impact.