Paychex, Inc., the HR software and services company that provides the power of simplicity for increasingly complex workplaces, has been named to FORTUNE® magazine’s list of the World’s Most Admired Companies. The annual list honors companies globally for their outstanding financial performance and leadership on nine criteria, from investment value and quality of management and products to social responsibility and innovation. The rankings are considered the definitive report card on corporate reputation.
“At Paychex, we’re committed to providing employers with easy-to-use technology – backed by 24x7x365 U.S.-based customer support – where and when they need it, and critical HR support delivered by our 600+ accredited HR professionals and supported by our team of 200+ compliance and legal experts. We have the technology, the tools, and the people to help businesses as they navigate the impacts of the COVID-19 pandemic and prepare for the future of work,” said Martin Mucci, Paychex president and CEO. “We’re proud to have been able to make a difference in the eyes of our clients, the wider business community, and the FORTUNE Most Admired panel. This recognition is a testament to the hard work and integrity of our nearly 16,000 employees who, despite challenging times, put their best forward every day to benefit our clients, colleagues, and shareholders.”
The challenges and uncertainties brought about by the COVID-19 pandemic have only reinforced Paychex’s commitment to removing uncertainty and complexity from the daily operations and HR functions of businesses. The investments Paychex has made in its software and solutions, as well as its comprehensive COVID-19 Help Center with daily updates, live webinars, podcasts, in-depth articles and more, have been valuable lifelines in helping businesses manage pandemic-related cash-flow challenges and transition employees to remote or hybrid work environments. The company’s quick response to supporting businesses combating COVID-19 have included:
- Paycheck Protection Program (PPP) Solutions – Helping clients leverage and maximize$28B in PPP loans, Paychex developed an easy-to-use PPP payroll report that simplifies the loan application process by automatically uploading clients’ payroll data. Paychex is also assisting with PPP loan forgiveness through its comprehensive PPP loan forgiveness estimator and a signature-ready PPP Loan Forgiveness Application.
- Paychex Flex® Enhancements – The technology and service foundation already in place at Paychex helped it rapidly respond to the workplace challenges caused by the pandemic, providing its clients with a number of new technology tools, including HR Conversations, which enables virtual employee-management and dialog, and HR Connect, a case management solution that facilitates the remote management and resolution of common HR issues.
- Critical HR Support – Paychex and its team of 600+ accredited HR consultants are helping guide clients through this unchartered and evolving HR landscape, where regulations from state and local governments are changing daily.
- COVID-19 Help Center – The ultimate resource hub for support throughout every stage of the COVID-19 pandemic, the Paychex COVID-19 Help Center provides valuable and up-to-date insights on stimulus measures, managing a remote or hybrid workforce, travel restrictions, and more – delivered across a range of media including in-depth articles, videos, scenario tools, live webinars, and podcasts.
- Personalized State Resources – Through a click on a map, business leaders and HR managers can access interactive tools, checklists, and articles specific to their state/region regarding guidance on paid leave laws, reopening guidelines, and more.
“I don’t think I would have had the success with the loan applications and my employees if I had not had Paychex there to assist me every step of the way,” said Paychex client Lisa Jewell, managing partner of Crown Jewell Entertainment in Los Angeles.
FORTUNE partners with Korn Ferry to determine the most highly regarded companies in 52 industries. Executives, directors, and analysts rate companies within their industry based on the criteria. To earn recognition as one of the most admired, a company’s score must be within the top half of its industry. Paychex was recognized for its leadership in the financial data services category.
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