Paychex Named One of ''World's Most Ethical Companies'' by Ethisphere Magazine
ROCHESTER, N.Y.--(BUSINESS WIRE)--
Paychex, Inc. has been named one of the "World's Most Ethical Companies" by Ethisphere Magazine, a national publication for corporate executives that examines the correlation between ethics and profit. The companies selected for this prestigious honor were recognized for strong leadership in ethics and compliance, the advancement of social and ethical issues, and positive community engagement.
"Since Paychex was founded in 1971, the employees of our company have shown their strong commitment to the highest professional and ethical standards. That tradition has allowed our business and reputation to thrive," said Jonathan J. Judge, Paychex president and CEO. "From our board of directors, to our management team, to our employees, Paychex is a company that prides itself on doing what's right. This recognition of our dedication to ethical leadership is a tremendous honor."
The editors of the magazine chose fewer than 100 companies from several thousand organizations, representing 30 industries that they analyzed over a six-month period. The process included reviewing companies' codes of ethics, litigation and regulatory infraction histories; evaluating investment in innovation and sustainable business practices; looking at companies' activities to improve corporate citizenship; studying nominations from senior executives, industry peers, suppliers and customers; and working with consumer action groups for feedback and rating.
"This was a rigorous process that identified a select group of companies that were unequalled in their industries for their commitment to ethical leadership and corporate social responsibility. These organizations go beyond making statements about doing business ethically; they translate those words into action," said Alex Brigham, executive editor of Ethisphere Magazine.
Ethisphere editors also declared that Paychex is "Ethics Inside Certified," an additional designation for companies that can provide affirmative anecdotal and real evidence about adequate internal efforts to promote ethical behavior by employees. This is done through discussions between company executives and magazine editors and experts.
Ethisphere Magazine has a circulation of 65,000 global board members, CEOs, general counsel, chief ethics and compliance officers, and institutional investors. It offers insight on gaining market share and creating sustainable competitive advantage through ethical business practices and corporate citizenship.
To read the full article about the 2007 World's Most Ethical Companies, go to www.ethisphere.com.
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, 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 and serves approximately 543,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.
About the Ethisphere Council
The Ethisphere Council was created in 2006 by Corpedia, a leader in risk assessment and eLearning for ethics and compliance, the Practising Law Institute, a non-profit organization committed to enhancing the professionalism of attorneys and others and LexisNexis, a leading provider of comprehensive information and business solutions; and Formed with support from such leading corporations as Deutsche Telekom, Time Warner, Dresser Industries, Avaya and Kraft, the council is dedicated to the research, creation, and sharing of best practices in ethics, compliance, and corporate governance among its membership companies. It also focuses on the development and advancement of its members through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. More information on membership can be found at http://www.ethisphere.com.
Source: Paychex, Inc.
Released May 14, 2007