LEAD magazine, "Cincinnati's b2b magazine for business professionals," features Paycor CEO Bob Coughlin and Executive Vice President and Chief Strategy Officer Stacey Browning in its recently published issue (2015 volume 2). An excerpt of the article is below, as well as a link to the full story.
Paycor: Celebrating 25 Years of Combining Service and Software for
Cutting Edge HR Technology
_Written by Rick Bird
Photography by Wes Battoclette_
Paycor celebrates its silver anniversary this year with plenty to crow about. The company that started with a couple of employees cutting payroll checks has gone from a $200,000 startup to a $100+ million tech company, driving the field of HR applications, including cloud-based HR, payroll, onboarding and timekeeping software.
The secret to Paycor’s success is really no secret at all; it’s more like a common sense business model. Founder and CEO Bob Coughlin established a compulsive culture of customer service. When technology required change, he hired good people and gave them the freedom to do their work.
After 25 years, Paycor continues to expand. It has more than 900 employees and expects to hire 300 more in the next 18 months. It has more than 28,000 clients and counting.
Coughlin founded Paycor at age 28 with a simple vision. “I saw there was a need in the marketplace for a higher level of personal service,” Coughlin says. “Some of our big national competitors were not very responsive to clients, especially small and mid-size businesses, so we took advantage of that.”
The company’s core values still revolve around personalized client service as it develops software platforms that automate a wide range of HR needs, including applicant tracking, onboarding and information management from tax filings to the prickly Affordable Care Act reporting requirements.
Paycor’s phenomenal growth has made it the 84th largest privately held company in Greater Cincinnati and on the Inc. 5000 list of the nation’s fastest growing privately held firms for seven years. It has expanded beyond Cincinnati serving clients from 25 locations in all 50 states, plus opened a software development center in Frisco, Texas, last year.
Most significantly, Paycor moved into its $20 million, four-story, 135,000-square-foot headquarters in Norwood in 2014. That move reinforced its commitment to the region, especially when it comes to Silicon Valley-like, high-tech jobs.
Ultimately, Paycor’s story comes back to Coughlin’s unique management style: He is driven, but laid back.
“He figures out a way to build scaffolding so something can grow and persist,” says Stacey Browning, executive vice president. “He’s not the kind of founder who needs his fingerprint on everything. He delegates and trusts others.”
Click here to read the full article.
Photo copyright: LEAD magazine
Previous LEAD articles:
Fearless in the Face of Change