Paychex Named One of the "World's Most Ethical Companies" Again in 2010
Leading payroll and HR services provider recognized for exceptional ethical leadership activity
ROCHESTER, N.Y.--(BUSINESS WIRE)-- Paychex, Inc., a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses, has been recognized by the Ethisphere Institute as one of the World's Most Ethical Companies for 2010. Out of a record number of nominations for the award, Paychex secured a spot on the list by implementing principled business practices and initiatives that are instrumental to the company's success, benefit the community, and represent the highest standards of ethical leadership. This marks the third time Paychex has received this honor.
"At Paychex, we have always believed strongly in doing the right thing," said Paychex chief executive officer Jonathan J. Judge. "The fact that we are recognized for our high ethical standards by an outside organization is a tremendous compliment to our employees and our company."
This is the fourth year that Ethisphere, a think tank dedicated to the creation, advancement, and sharing of best practices in business ethics, corporate social responsibility, anti-corruption, and sustainability, has published the World's Most Ethical rankings, which appear in Ethisphere magazine's Q1 issue.
Through in-depth research and a multi-step analysis, Ethisphere reviewed thousands of nominations from companies in over 100 countries and 36 industries in order to determine the winners.
"Paychex's promotion of a sound ethical environment shines within its industry and shows a clear understanding that operating under the highest standards for business behavior goes beyond goodwill and 'lip-service,' and is intimately linked to performance and profitability," said Alex Brigham, executive director of the Ethisphere Institute. "This year's World's Most Ethical Companies award was more competitive than ever, because companies realize that making ethics a priority is critical amidst a tough economic environment. Good ethics means better business."
The methodology for the World's Most Ethical ranking includes reviewing codes of ethics, litigation, and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers, and customers.
Read about the methodology and view the complete list of the 2010 World's Most Ethical Companies at http://ethisphere.com/wme-2010.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex(R). Human resource services include 401(k) plan recordkeeping, health insurance, workers' compensation administration, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 554,000 payroll clients nationwide as of May 31, 2009. For more information about Paychex and our products, visit www.paychex.com.
About Ethisphere Institute
The research-based Ethisphere Institute is a leading international think tank dedicated to the creation, advancement, and sharing of the best practices in business ethics, corporate social responsibility, anti-corruption, and sustainability. The Institute's associated membership group, the Ethisphere Council, is a forum for business ethics that includes over 200 leading corporations, universities, and institutions. The Ethisphere Council is dedicated to the development and advancement of individuals on its membership council through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. Ethisphere magazine, which publishes the globally recognized World's Most Ethical Companies RankingTM, is the quarterly publication of the Institute. More information on the Ethisphere Institute, including ranking projects and membership, can be found at www.ethisphere.com.
Source: Paychex, Inc.
Released March 22, 2010