Gusto is a comprehensive online payroll and HR administration platform specifically designed for U.S.-based startups and small businesses. Here’s an overview of what Gusto does and its key features:
What Gusto Does
Gusto simplifies and streamlines payroll processing, benefits administration, and various HR tasks, making it an all-in-one solution for managing the employee lifecycle. The platform is tailored to support businesses with both domestic and international contractors, offering a range of tools to handle diverse pay rates and schedules.Key Features and Functionality
Payroll Processing
- Gusto automates payroll processing, including tax filing and compliance, ensuring that paying employees and contractors is efficient and accurate. It supports unlimited payroll runs, allowing for flexible pay schedules, including next-day direct deposit and multiple state payrolls.
Benefits Administration
- The platform provides a wide range of health and financial benefits, such as medical, dental, life, and vision insurance, as well as 401(k) retirement savings, Health Savings Accounts (HSAs), and Flexible Spending Accounts (FSAs). It also includes workers’ compensation programs and trusted benefits advisors to help create comprehensive healthcare packages.
Time and Attendance Tracking
- Gusto features automated time tools that sync with payroll, automatically calculating hours worked, overtime, paid time off (PTO), and holidays. This integration is particularly beneficial for managing remote or field teams and reduces administrative workload.
Employee Hiring and Onboarding
- Gusto simplifies the hiring and onboarding process with custom job posts, automated applicant tracking, offer letter templates, and automated direct deposit form submission. New hires can complete their paperwork digitally, streamlining the onboarding process.
Talent Management
- The platform includes performance tools, training resources, and developmental tools to help retain employees. It integrates with learning management systems (LMS) to enhance talent development within a centralized platform.
Expense Management
- Gusto allows for easy expense reimbursement by enabling users to approve requests and automatically add the reimbursement to the next paycheck.
Financial Tools
- Gusto offers financial wellness tools, including the Gusto Wallet, which helps employees plan pre-tax savings and utilize smart financial tools to secure their financial future. The platform also provides a Gusto debit card for direct access to pay on payday.
Integrations
- Gusto integrates with various accounting software like QuickBooks, Xero, and FreshBooks, as well as time tracking systems like Homebase and TSheets, and POS systems like Shopify. It also connects with collaboration systems like Asana or Slack and expense management tools like Expensify.
Compliance and Reporting
- The platform ensures compliance by automating tax filings, e-signing, e-filing, and e-faxing necessary forms. It also provides advanced payroll features such as tax credits and detailed reports.
User Experience
- Gusto offers a user-friendly web-based interface that is mobile-responsive, allowing employers to manage payroll and view reports from different devices. However, it does not have a dedicated mobile app for employers.
Pricing
- Gusto provides three pricing plans: Simple, Plus, and Premium, with costs starting at $40/month plus $6/month per person for the Simple plan, $80/month plus $12/month per person for the Plus plan, and $180/month plus $22/month per person for the Premium plan. Each plan includes a 30-day free trial.