16,000+
~740,000
global employees
clients
2023
Client Impact Report
$5.3B
Founded in
Locations in
the U.S., India,
and Europe
1971
By putting our clients, their workforces, and our teams at the center of what we do, we delivered record-breaking results in FY23. Through our leadership in delivering digital HR technology, HR advisory services, and exceptional client experiences, we will capitalize on our sizeable total market opportunity in the years ahead.
The Best Years Are Yet To Come
Learn More
Join Our Team
in revenue
4.0
3.0
2.0
1.0
5.0
0
market capitalization
38
37
36
35
33
31
28
25
20
16
14
12
10
8
6
4
2
0
$
Billion
$
Billion
9%
2.0
1.0
0
$
Billion
in dividends paid
Shareholder Returns
over 5 years
Bolden Insurance Agency Calls on Paychex for ERTC Help
In Their Words
Putting a pause on his salary helped Paul Bolden take care of his employees during the pandemic. Now, he's looking to start growing again. With the help of Paychex, Paul was able to recoup Employee Retention Tax Credits (ERTC).
Learn More
Ranking among
the top U.S. insurance brokers
3
Processing payroll for 12M U.S. private sector employees
As we work to redefine HR in a digital world, clients take confidence in our industry leadership, innovative solutions, and consistent growth. We continue to help clients simplify the complexities of HR through our world-class technology and advisory solutions.
Notable leadership milestones include:
Leading the Industry
Learn More
HR Manager Jason Eller wanted to ensure employees felt appreciated and cared for, personally and professionally, to create a better environment for their furry friends. See how Paychex worked with him to put staff wellness and career development in place.
West Park Animal Hospital Puts a Priority on Employee Wellness
In Their Words
2023 Priorities for Business Leaders
Report
2023 Priorities for Business Leaders identified that HR administration costs an average of $233,896 per company per year and about one week a month in time spent on tasks.
Read the Report
2023 Pulse of HR Report
Report
The 2023 Pulse of HR Report identified that 95% of HR leaders plan to invest in technology, and 76% will use AI next year.
Read the Report
The Rise of Generation Z: A Paychex Special Report
Report
The Rise of Generation Z: A Paychex Special Report helps business leaders understand the growing importance of this segment to the economy (born between 1997 and 2012), which makes up nearly 20% of the workforce.
Get the Report
Small Business Employment Watch
Dashboard
The monthly Small Business Employment Watch reports on small business job growth, and despite the challenges of a competitive labor market and tightening credit, the data suggests small businesses remain resilient as job growth holds steady.
View Dashboard
To help businesses succeed, Paychex must be at the cutting edge of what's top of mind for leaders and their teams. Our investments in thought leadership help to build confidence with prospects and loyalty with clients as they know we understand their unique business needs and the trends facing their companies. We can support them with relevant and timely advisory solutions and HR technology.
Driving Thought Leadership
Clients using the Paychex Retention Insights predictive analytics model reduced turnover by 15% to 20% compared to clients that didn't use the model.
transactions
820,000
and with over
clients
200,000
from nearly
$1.1 B
RTP are up to
Real-Time
Payments
Paychex remains the
only human capital management provider
to offer clients a
solution, addressing
the growing demand
for employees who want
to be paid faster and
more often.
reports downloaded
152+
Million
Our technology platform is becoming more useful for employees and may be reducing how often they need to go to HR or their manager with questions.
year-over-year
growth in mobile and desktop users
162%
We are well-established as a digital HR technology company and had clients use 426 million sessions on our HR technology platform, up 17% overall this year and up 27% for mobile access. Trends in service usage include:
Learn More
Kelly Ennis brought energy to the architectural design collective she helped establish but needed to stay focused on being creative to help grow the business. See how The Verve Partnership benefited when they brought in Paychex to handle their payroll.
The Verve Partnership and Paychex Streamline Payroll Processing
In Their Words
employee W-2s created
11
clients with Paychex for payroll
for 10+ years
126,000+
HR consultations in the
past 12 months
18,000
employees onboarded electronically
1.7
secured for Paycheck Protection Program loans and
Employee Retention Tax Credits
Billion
82
$
82
71
60
59
48
37
26
15
4
0
additional clients
~10,000
As a trusted advisor to ~740,000 small to medium-sized businesses throughout the U.S. and Europe, our clients reward us with their loyalty.
Delivering Exceptional Client Service
Learn More
Stephen Lutter knows how to run a platoon, so when a business opportunity presented itself that matched his experience in the U.S. Army, he bought a franchise. Ace Handyman Services gave Stephen a chance to supervise, lead, and serve his community, but he needed more expertise to put the right pieces in place to grow and scale his business. Stephen turned to Paychex for his HR needs, including onboarding employees from diverse backgrounds.
Ace Handyman Works with Paychex to Grow and Scale
In Their Words
of hires were female
62%
12%
of hires were
racially diverse
43%
Paychex continues to prioritize and amplify diversity, equity and inclusion through recruitment, employee resource groups, mentorship programs, training, and pay equity.
of eligible
household members.
14%
of employees used the emotional support and well-being services offered through the company's Employee Assistance program, along with
20%
employees promoted
4,197
hours of workforce training, skills, and leadership development programs were delivered to employees.
5,700+
certified HR professionals
~700
Integrity
Partnership
Accountability
Respect
Innovation
Service
- be ethical
- be collaborative
- be responsible
- be considerate
- be curious
- be helpful
Our Values
At the heart of our success are our 16,000+ dedicated employees, who have made us a digital HR leader in the markets we serve. We actively develop a best-in-class workforce and are ranked fifth among the world's best training organizations.
Creating a Compelling Team Experience
Learn More
With her hands-on experience in the kitchen, Audrey Zybala saw firsthand the work the Lago 210 employees put in to making the restaurant she and her husband, Jordan, own a success. They wanted to recognize that hard work and loyalty and used Paychex to help establish a retirement savings program for their staff.
Lago 210 Establishes a Staff Retirement Savings Program with Help from Paychex
In Their Words
Paychex is committed to contributing to our communities, building on our reputation as one of the world's most admired, ethical, and innovative companies. To align with the shifting guidance on reducing energy consumption and greenhouse gas (GHG) emissions, Paychex has committed to updating its environmental policy at least once a year, performing enterprise-wide risk assessments, and achieving net-zero GHG emissions by 2050.
Supporting Environment, Social, and Governance
The Paychex Charitable Foundation
The Annual United Way Campaign
Allocates $250,000 annually over four years to support job training and workforce development programs in markets where Paychex has a high concentration of employees.
Allocates $250,000 annually over four years to provide young people with the knowledge and skills they need for economic success.
Allocates $250,000 annually over four years to support local food banks that deliver equitable access to nutritious food in markets where Paychex has a high concentration of employees.
committed
1
$
Million
The Annual United Way Campaign included donations from 4,129 employees, an increase of more than 20% from last year, who pledged a new record of donations totaling $1.2M with an added corporate match. Groups from different offices also support United Way's Day of Caring through labor and fundraising. We are committed, accountable, and proud of our impact on the communities we serve.
See Our Impact
By putting our clients, their workforces, and our teams at the center of what we do, we delivered record-breaking results in FY23. Through our leadership in delivering digital HR technology, HR advisory services, and exceptional client experiences, we will capitalize on our sizeable total market opportunity in the years ahead.
The Best Years Are Yet To Come
Join Our Team
Learn More
Environmental, Social and Governance
Team Experience
Client Service
Thought Leadership
Industry
View Annual Report
2023 Client Impact Report
Menu
1.2
1.0
0.8
0.6
0.4
0.2
0.0
0.2
0.0
1.2
5
Paychex leads the way in making complex HR, payroll, and benefits brilliantly simple. We connect technology to the human experience, enabling companies and their workforces to thrive. Whether in tough times or when business is booming, we provide our clients with expert HR guidance and solutions to help them succeed.
1
FY23*
FY23*
Being the largest 401(k) recordkeeper by the number of plans
4
5
Million
Million
38
2
Allocates $250,000 annually over the next four years to focus on improving access to mental health education and resources across the U.S.
committed
1
$
Million
committed
1
$
Million
committed
1
$
Million
The numerical and statistical references in this report are for the fiscal year starting June 1, 2022, through to May 31, 2023
As of May 31, 2023
Largest 401(k) Recordkeeper by Number of Plans, PLANSPONSOR magazine, 2022
Top 100 Brokers of U.S. Business, Business Insurance magazine, 2022
Paychex, Fifth on List of World’s Best Training Organizations | Paychex
* For the fiscal year ended May 31. Percentage increases are indicated as year over year.
1
2
3
4
5
© 2023 Paychex Inc. All Rights Reserved.
Privacy
Security
Trademarks & Disclaimers
Legal
Learn More
HR Manager Jason Eller wanted to ensure employees felt appreciated and cared for, personally and professionally, to create a better environment for their furry friends. See how Paychex worked with him to put staff wellness and career development in place.
West Park Animal Hospital Puts a Priority on Employee Wellness
In Their Words:
2023 Priorities for Business Leaders
Report
2023 Priorities for Business Leaders identified that HR administration costs an average of $233,896 per company per year and about one week a month in time spent on tasks.
Read the Report
2023 Pulse of HR Report
Report
The 2023 Pulse of HR Report identified that 95% of HR leaders plan to invest in technology, and 76% will use AI next year.
Read the Report
The Rise of Generation Z: A Paychex Special Report
Report
"The Rise of Generation Z: A Paychex Special Report" (born between 1997 and 2012) helps business leaders understand the growing importance of this segment to the economy, which makes up nearly 20% of the workforce.
Get the Report
Small Business Employment Watch
Dashboard
Monthly Small Business Employment Watch reports on small business job growth, and despite the challenges of a competitive labor market and tightening credit, the data suggests small businesses remain resilient as job growth holds steady.
View Dashboard
To help businesses succeed, Paychex must be at the cutting edge of what's top of mind for leaders and their teams. Our investments in thought leadership help to build confidence with prospects and loyalty with clients as they know we understand their unique business needs and the trends facing their companies, and we can support them with relevant and timely advisory solutions and HR technology.
Driving Thought Leadership
Clients using the Paychex Retention Insights predictive analytics model reduced turnover by
15% to 20% compared to clients that didn't use the model.
We are well-established as a digital HR technology company and had clients use 426 million sessions on our HR technology platform, up 17% overall this year and up 27% for mobile access. Trends in service usage include:
Learn More
Kelly Ennis brought energy to the architectural design collective she helped establish but needed to stay focused on being creative to help grow the business. See how The Verve Partnership benefited when they brought in Paychex to handle their payroll.
The Verve Partnership and Paychex Streamline Payroll Processing
In Their Words:
As a trusted advisor to 740,000+ small- to medium-sized businesses throughout the U.S., India, and Europe, our clients reward us with their loyalty.
Delivering Exceptional Client Service
new clients
100,000+
secured for Paycheck Protection
Program loans and Employee
Retention Tax Credits
82
HR matters addressed
30,000+
126,000+
clients with Paychex for payroll
for 10+ years
11M
employee W-2s created
employees onboarded electronically
1.7M
our technology platform is becoming more useful for employees and may be reducing how often they need to go to HR or their manager with questions.
year-over-year
growth in mobile and desktop users
167%
reports downloaded
152+
Million
Paychex remains the
only human capital management provider
to offer clients a
Real-Time
Payments
(RTP)
$1.1 B
200,000
820,000
RTP are up to
from nearly
clients
transactions
and with over
solution, addressing
the growing demand
for employees who want
to be paid faster and
more often
Billion
$
71
60
59
48
37
26
15
4
0
82
Integrity
Partnership
Accountability
Respect
Innovation
Service
Learn More
Stephen Lutter knows how to run a platoon, so when a business opportunity presented itself that matched his experience in the U.S. Army, he bought a franchise. Ace Handyman Services gave Stephen a chance to supervise, lead, and serve his community, but he needed more expertise to put the right pieces in place to grow and scale his business. Stephen turned to Paychex for his HR needs, including onboarding employees from diverse backgrounds.
Ace Handyman Works with Paychex to Grow and Scale
In Their Words:
At the heart of our success is our 16,000 + dedicated employees, who have made us a digital HR leader in the markets we serve. We actively develop a best-in-class workforce and are ranked fifth among the world's best training organizations.
Creating a Compelling Team Experience
Our Values
- be ethical
- be collaborative
- be responsible
- be considerate
- be curious
- be helpful
certified HR professionals
700
employees promoted
4,197
Paychex continues to prioritize and amplify diversity, equity and inclusion through recruitment, employee resource groups, mentorship programs, training, and pay equity.
12%
of hires were female
62%
of hires were racially diverse
44%
15%
of employees used the emotional support and well-being services offered through the company's Employee Assistance program, along with
22%
workforce training, skills, and leadership development programs were delivered to employees.
5,800+
of eligible household members.
18%
Learn More
With her hands-on experience in the kitchen, Audrey Zybala saw firsthand the work the Lago 210 employees put in to making the restaurant she and her husband, Jordan, own a success. The Zybalas wanted to recognize that hard work and loyalty and used Paychex to help establish a retirement savings program for their staff.
Lago 210 Establishes a Staff Retirement Savings Program with Help from Paychex
In Their Words:
Allocates $250,000 annually over four years, will support local food banks that deliver equitable access to nutritious food in markets where Paychex has a high concentration of employees.
The Annual United Way Campaign included donations from 4,129 employees, an increase of more than 20% from last year, who pledged a new record of donations totaling $1.25M with an added corporate match. Groups from different offices also support United Way's Day of Caring through labor and fundraising. We are committed, accountable, and proud of our impact on the communities we serve.
See Our Impact
Paychex is committed to contributing to our communities, building on our reputation as one of the world's most admired, ethical, and innovative companies. To align with the shifting guidance on reducing energy consumption and greenhouse gas (GHG)emissions, Paychex has committed to updating its environmental policy at least once a year, performing enterprise-wide risk assessments, and achieving net-zero GHG emissions by 2050.
Supporting Environment, Social, and Governance
The Paychex Charitable Foundation
Paychex announced similar grants to Mental Health America and Feeding America earlier in 2023
to support emotional and physical well-being, respectively.
donated
1
$
Million
Allocates $250,000 annually over four years, will provide young people with the knowledge and skills they need for economic success.
Allocates $250,000 annually over four years, will support job training and workforce development programs in markets where Paychex has a high concentration of employees.
donated
1
$
Million
donated
1
$
Million
The Annual United Way Campaign
