Paycom continues to see strong growth
Oklahoma City-based Paycom Software Inc. saw its one-year total returns for investors grow by 26.5 percent over the year as it continues to grow its workforce in Oklahoma City.
The Oklahoma City-based human resources technology company is seeing aggressive growth to its client base nationwide, said Stacey Pezold, chief operating officer of Paycom.
"Paycom has really been a growth company since inception," Pezold said. "What is really interesting about that is the continuation of that growth.
Paycom has opened six new sales offices this year, and has expanded its line of human resources products it offers to clients.
CEO Chad Richison said customers like the company's products and services.
“Our technology continues to resonate well in the market and has helped position us to continue to reinvest in our business and growth initiatives,” Richison said.
The company sees regulation and compliance as a big growth area, as employers wade through changes in insurance requirements through the Affordable Care Act and changes to rules on overtime pay through the Fair Labor Standards Act.
"Our clients continue to look to us as an expert in all things regulation and compliance," Pezold said. "We also continue to be a communications conduit between employers and employees."
The tech company, saw its revenues grow by 53.9 over the previous year. Earnings per share grew by 112.9 percent over the previous year.
Paycom Software Inc. is already out of room on its campus in far Northwest Oklahoma City and is building a fourth building to accommodate more growth.
The company expects to hire 1,090 people over the next five years. Paycom had 1,461 at the end of 2015.
Paycom is having no problem finding talented, skilled workers to accommodate that growth in Oklahoma City, Pezold said.
"We are confident in our ability to attract and retain top talent," she said. "We believe in the other key to that success giving them a culture in which they want to stay and not just have a job but to truly have a career — we are very proud of that."