Paychex, Inc., headquartered in
Rochester, New York, is a provider of
human resources,
payroll, and
employee benefits outsourcing services for small- to medium-sized businesses.[1] The company has more than 100 offices serving approximately 740,000 payroll clients in the U.S. and Europe.[1] Paychex is ranked 681st on the
Fortune 500 list of largest corporations by revenue.[2]
History
Paychex was founded in 1971 by
Tom Golisano, who started the company with only $3,000.[3][4]
The operation grew to include 18 franchises and partnerships, which were eventually consolidated into one private company in 1979. In 1983, the company became a
public company via an
initial public offering.[5][6]
Paychex and
IHS Markit launched a Small Business Jobs Index in 2014 that measures the health of businesses employing 50 people or less.[27]
Today, the Paychex | IHS Markit Small Business Employment Watch shares small business jobs data going back to 2005 and wage data from 2011 to present.[citation needed][28]
The Employment Watch is frequently used by financial experts, analysts, and journalists assessing the economic outlook.[29]
Paychex CEO Martin Mucci regularly appears in the media to provide analysis of Small Business Employment Watch data, as well as insight into what the health of Paychex as a company says about the health of small business and the economy in general.[30]
Awards and honors
Paychex named to HR Examiner's 2020 Watchlist for the use of
AI in HR[31]
In 2019, Paychex was named to the
FORTUNE list of Future 50 companies[32]
Paychex was listed as number 211 on
Forbes 2019 list of the World's Best[33]
In 2018, Paychex was named one of the World's Most Ethical Companies by
Ethisphere for an 11th time[34]
In 2018,
Forbes placed Paychex at number 76 on their list of the World's Most Innovative Companies[33]
Rochester Democrat and Chronicle named Paychex one of the Best Places to Work in
Rochester in 2016[35]
Paychex Flex received the 2016 TekTonic Award from HRO Magazine for being a best-in-class mobile and cloud-based technology suite[36]