HR Tech Provider Paycom Raises Less Than Expected In $100M IPO

Paycom, a company that pushes cloud-based human-capital management software, will debut on the New York StockExchange tomorrow under the symbol PAYC, for $15 per share. The company announced the news in a press release today.

The figure falls under the $18-to-$20 range analysts were expecting, as IPO investment firm Renaissance Capital noted today. The idea is to offer 6,645,000 shares and pay off outstanding debt.

Paycom competes with plenty of software companies, including Workday, which found success in its 2012 initial public offering.

Barclays Capital and J.P. Morgan Securities are Paycom’s book-runners. Pacific Crest Securities, Canaccord Genuity, and Stifel are the co-managers.

Paycom started in 1998, and as of Dec. 31 it had 840 employees and more than 10,500 customers. It runs its software from data centers in Oklahoma and Texas.  

Make Sure You Are Right Hiring HR Staff - Update

I have thought about this topic for some time and the last seminar I went to really propelled me to write this post. I wanted to update this from my January 2013 post. 

I am sure each of you have made a bad, questionable or wrong HR hire. I know I have, only twice in my 30+ year career but they were costly to recover. So here are a couple of thoughts when you hire your next staff person and this goes for every level:

• as the right questions that answer your HR concerns, issues, and philosophy
• make sure their cultural prospective is the same as your company's
• don't just replace the person who left, make sure the new hire has band width to grow at a high functioning pace
• are they business savvy, not just knowledgeable of business, do they speak business
• if they just want to work with people that is a red flag
• make sure you spend enough time in the recruiting process and over hire not equal hire 
• does their philosophy dovetail with yours, so you have to play psychologist/philosopher
• make sure they know HR in all aspects not just the position you want to fill
• look at operations people/support within your organization, they do real well in HR
• pass them through your line managers or the people they will support

I am sure you all know this but it never hurts to bring it to top of mind so you don't get antsy in the hiring process.  

I would appreciate your comments and any additional areas you think I may have missed. Email me at wgstevens2@gmail.com.