Understanding Dayforce Pricing: A Comprehensive Guide (2024)

Dayforce is a widely recognized HR software solution that comes in various modules to help businesses manage human capital in a strategic manner. However, any firm willing to improve its HR operations within the financial limits already established by them had better know Dayforce pricing. In this post, we go much deeper into Dayforce pricing including its structure, benefits and how it caters to businesses of every size and HR needs better.

Dayforce Pricing Overview

Dayforce adopts a subscription-based model, with companies being billed quarterly or annually. With its price range near the higher end of the midmarket segment, Dayforce competes well when compared with only some of the top choices. As software fees, the price typically lands somewhere between $22-31 per employee per month (PEPM).

It is interesting to note that besides these fees, there exists one-time implementation cost. This implementation fee charged by Ceridian or its partners generally constitutes 40-60% of the annual software fees and hence proves significantly important while preparing for the overall budget.

Comparing Costs with Benefits

Dayforce charges companies per quarter or annually and it offers a subscription-based model. It is termed to be pricier unlike a few leading substitutes although it stands at the higher end of the segment. The monthly fees per every employee often stand between $22-31 (PEPM).

It is worth noting, though, that apart from these fees, there exists also a one-time implementation cost. This implementation fee, charged either by Ceridian or its partners usually makes up 40-60% of the annual software fees - hence quite an indispensable aspect to be taken into account when outlining the overall budget.

Comparing Costs with Benefits

Choosing Dayforce as your HR software solution is a decision that encompasses quite a bit more than dollars and cents. It involves understanding the actual and virtual value included in the system, and ascertaining whether these benefits are congruent with those required by your organization.

Comprehensive Module Array

One of the highlight features of Dayforce is its suite of modules. It includes, but certainly is not limited to, Payroll and Benefits Administration, as well as Time & Attendance, Onboarding, Recruiting/ATS, Performance, Compensation & Succession, Engagement, and Learning. Width - This ensures the breadth of the businesses in which they can consolidate their HR functionalities at one place hence reducing silos, and encouraging seamless collaboration across different facets of workforce handling.

Efficiency Gains:

At the heart of the Dayforce value proposition lies the promise of efficiency gains. It reduces effort by increasing the simplicity of various processes that lower error, in general increases efficiency of the workflow through centralization of HR functions. Automating large parts of the work, such as payroll processing or onboarding exercises, would save huge amounts of time that HR professionals could then use up in focusing on the strategic initiatives, which are the growth drivers for any organization.

Time Savings:

Time is a precious resource, and Dayforce recognizes this by having features that save HR teams precious hours. For instance, automated workflows, self-service functionalities, and an intuitive interface are all part of what makes operations in HR more streamlined and nimble. The saved time can, subsequently, be re-invested into human expert activities, e.g., talent development, employee engagement and strategic workforce planning.

Improved HR Processes:

Dayforce goes beyond just digitizing traditional HR processes; it aims to elevate them. Real-time advanced analytics and reporting tools assist the HR professional in accessing the trends within their workforce as well as performance metrics, employee engagement levels, and so on. Indeed, this data-driven approach empowers decision making enabling HR teams to proactively address issues, create targeted training programs to overcome deficiencies, developing a human resources strategy that is more responsive and adaptive.

Flexibility to Scale:

The other prominent advantage associated with Dayforce is flexibility and scalability. Businesses grow or change, and the system can be adjusted to changing HR needs. This is facilitated by the scalability of the system which ensures that the initial investment into Dayforce is not just a one-time quick-fix type solution but rather a long-term solution that grows with an organization hence valuable over time.

Enhanced Employee Experience:

The employee experience is one of the critical factors for organizational success, and Dayforce realizes this by enabling them with tools that boost their engagement and satisfaction. It is through self-service portals, personalized learning modules, streamlined performance management among others, which give a hand in creating a good working environment.

Dayforce 's business cost-benefit correlation is significant. Beyond the financial outlay, organizations must evaluate Dayforce's alignment with their HR goals, operational efficiency, and workforce growth. Businesses can maximize its value as a strategic partner by making it partner in human capital management.

How Pricing Varies by Business Size and Need

Dayforce caters to a very specific niche position, branding itself as a Mid-Enterprise HRIS. This means that the system is best used by firms with employee counts topping out at 5,000 in number and starting as low as 350 employees in size. Mid-enterprise solutions like Dayforce, are all-extensive HRIS platforms that touch moderate to highly complex businesses.

However, there are different scales of businesses where the structure of pricing, implementation timelines and levels of support may differ. Cost-benefit equation for smaller businesses would differ from larger enterprises, hence align the solution accordingly to the need and scale of the organization.

Real-world Examples

To further illustrate Dayforce pricing on a slightly more granular level, here are a few specific examples to consider. Consider a mid-sized company with 1,000 employees looking to implement Dayforce. Probably software fees will be $22,000 to $30,000 monthly without one-time extra implementation cost of $50,000 to $120,000. On the other hand, a business of much smaller scale at 500 employees may face a proportional cost making it imperative for them to assess the ROI in the context of their scale and requirements.

Another scenario is complexity of hourly workforce company, a situation where Dayforce strong positioning in Payroll, Time and attendance, and Workforce Management modules can bring substantial value. In such exegeses, the investment in Dayforce is likely to prove as a strategic maneuver that optimizes operational efficiency while reducing administrative burdens associated with workforce management.

Conclusion

Understanding Dayforce pricing isn't about adding numbers; it is about aligning your investment to the unique needs and aspirations of your organization. While the initial costs might seem significant, the comprehensive suite of modules, coupled with the flexibility to scale, can offer long-term benefits and operational efficiencies. Like any strategic business decision, the first most pertinent critical factor is the careful analysis of the cost-to-value ratio, which does take into account in this instance size of the business and its special HR requirements. Dayforce, with its roots in payroll and a robust HCM focus, continues to be a compelling choice for mid-sized enterprises looking to elevate their HR processes.

FAQs
1. What is Dayforce pricing based on?

Dayforce pricing is typically based on a subscription model, where companies are billed quarterly or annually. The price per employee per month (PEPM) usually falls within the range of $22 to $31, depending on the modules and services selected.

2. Are there any additional costs besides the subscription fees?

Yes, besides the subscription fees, there is typically a one-time implementation cost. This implementation fee, which is charged by Ceridian or its partners, typically constitutes 40-60% of the annual software fees. It's essential to consider this implementation cost when budgeting for Dayforce.

3. What modules does Dayforce offer?

Dayforce offers a comprehensive suite of modules, including Payroll and Benefits Administration, Time & Attendance, Onboarding, Recruiting/ATS, Performance, Compensation & Succession, Engagement, and Learning. These modules cover various aspects of HR management, allowing businesses to consolidate their HR functionalities in one platform.

4. Is Dayforce suitable for small and mid-sized businesses?

Yes, Dayforce caters to small and mid-sized businesses, particularly those with employee counts ranging from 350 to 5,000. It is designed to meet the HR needs of moderate to highly complex businesses within this size range.

5. How can businesses assess the ROI of implementing Dayforce?

Businesses can assess the ROI of implementing Dayforce by considering factors such as operational efficiency, workforce growth, and alignment with HR goals. It's essential to evaluate the cost-to-value ratio and consider the long-term benefits and operational efficiencies that Dayforce can offer. Additionally, businesses should analyze how Dayforce aligns with their unique needs and aspirations to determine its value proposition.

Understanding Dayforce Pricing: A Comprehensive Guide (2024)

FAQs

How much does Dayforce payroll cost? ›

As software fees, the price typically lands somewhere between $22-31 per employee per month (PEPM).

What is Dayforce explained? ›

Dayforce helps optimise your operations for a happier, more productive workforce. Equip your organisation with AI-enhanced talent tools to help recruit, retain and reskill your diverse, global workforce. Get access to employee information when and where you need it with a single system.

Is Dayforce HCM legit? ›

It is a good product. It is cloud based which makes is highly desirable during the pandemic. Customer support is also very helpful. A lot of features are easy to adapt and there is less of a learning curve.

What does "authorize" mean on Dayforce? ›

Note: When Dayforce is configured to show timesheets based on your pay period, the Authorize All option authorizes all shifts in the loaded pay period. Select a row for a particular day in the timesheet, click the down arrow, and select Authorize Day.

Does Dayforce charge a fee? ›

Are there any fees? There are no balance minimums, monthly fees4, or fees to add your available pay to the Dayforce Wallet Card. Additionally, there are no fees to make purchases or for standard ACH transfers to other financial institutions, as well as fee-free cash withdrawals at in-network ATMs5.

What is the hourly rate for Dayforce? ›

As of Jun 5, 2024, the average hourly pay for a Ceridian Dayforce in California is $23.42 an hour. While ZipRecruiter is seeing salaries as high as $36.30 and as low as $15.89, the majority of Ceridian Dayforce salaries currently range between $21.83 (25th percentile) to $28.94 (75th percentile) in California.

What bank is Dayforce through? ›

The Dayforce Prepaid Mastercard® is issued by Central Bank of Kansas City, Member FDIC, pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Who owns Dayforce payroll? ›

In 2012, Ceridian acquired Dayforce Corporation, which had built Dayforce, a cloud HCM solution.

Is Dayforce spyware? ›

Dayforce uses recognized industry standard security safeguards appropriate to the sensitivity of the Personal Information. Dayforce reviews its security policies and procedures on a regular basis and updates them as needed to maintain their relevance.

Can you transfer a Dayforce Wallet to a bank account? ›

Yes, employees can transfer funds to an external bank account using the Dayforce Wallet mobile app. However, one of the benefits of Dayforce Wallet is that it is designed to help employees manage their pay and expenses all in one place. There are no fees to transfer funds to another account.

Can you overdraft a Dayforce card? ›

No overdraft/credit feature.

For general information about prepaid accounts, visit cfpb.gov/prepaid. Find details and conditions for all fees and services in the cardholder agreement.

Can you use a Dayforce card at an ATM? ›

The Dayforce Card can be used to make purchases, pay bills, and withdraw cash, all without needing a traditional bank account.

Do you have to pay for Dayforce? ›

Dayforce Wallet is included with Dayforce Payroll, meaning no additional cost to employers and no monthly fees2 for employees.

Is Dayforce a payroll system? ›

Dayforce HCM is a cloud-based platform for workforce management, payroll and tax, analytics, benefits, document management, talent management, and HR management. It is a single app that provides companies complete access to real-time data across all aspects of human capital management (HCM).

How much does a payroll software cost? ›

You can find free options, such as Payroll4Free, but you won't get the automation of a paid service. The average cost of payroll software is about $30 per month for the base fee, and then around $4 to $8 per employee per month. Some of the most expensive plans start at $150 per month, plus $12 per person per month.

How much does Ceridian cost? ›

Ceridian Dayforce typically charges on a quarterly or annual subscription basis, with software fees ranging between $22 and 31 per employee per month (PEPM). Additionally, there may be a one-time implementation fee, which is usually around 50-60% of the annual software fees.

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