Fortune Names Paychex to 2007 List of ''100 Best Companies to Work For''
Fourth Appearance on the List for Leading Payroll and HR Services Company
ROCHESTER, N.Y.--(BUSINESS WIRE)--
FORTUNE announced today that Paychex has been ranked number 70 on the 10th annual "100 Best Companies to Work For" list. Paychex, a leading provider of payroll and human resource services, also appeared on the 2002, 2003, and 2004 "100 Best Companies to Work For" lists. The complete list and related stories appears in the January 22 issue of FORTUNE, available on newsstands January 15 and at www.fortune.com today.
"It's a tremendous honor to be recognized as one of the best places to work in America," said Paychex president and CEO Jonathan J. Judge. "One of my personal commitments is to making Paychex the kind of place where employees can't wait to get to work - a place where employees are genuinely valued and where their opinions matter. This honor tells me that we are on our way to doing just that."
Competition to make the list has intensified in the past decade since the list first appeared. This year, 446 companies vied for a slot, up from 161 in 1998. And, 100,000 workers evaluated their employers, making this by far the largest simultaneous employee survey in corporate America. FORTUNE noted that Paychex's recently-added new benefits, such as two extra holidays, $4,000 in adoption aid, new flex schedules, and an increase in tuition reimbursement, were among the things that make Paychex "so great."
About "The 100 Best Companies to Work For" List
"The 100 Best Companies to Work For" list is compiled for FORTUNE by Robert Levering and Milton Moskowitz of the Great Place to Work Institute in San Francisco, based on two criteria: an evaluation of the policies and culture of each company, and the opinions of the company's employees. The latter is given more weight; two-thirds of the total score comes from employee responses to a 57-question survey which goes to a minimum of 400 randomly selected employees from each company. More than 100,000 employees from 446 companies participated in the survey this year. It asks about things such as attitudes towards management, job satisfaction, and camaraderie within the organization. The remaining one-third of the score is based on an evaluation of each company's demographic makeup, pay and benefits programs, and culture. Companies are scored in four areas: credibility (communication to employees), respect (opportunities and benefits), fairness (compensation, diversity), and pride/camaraderie (philanthropy, celebrations). Companies that are at least seven years old and have 1,000 or more employees are eligible for the list. Information about applying for the next list can be found at www.greatplacetowork.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 over 522,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.
Source: Paychex, Inc.
Released January 8, 2007