Paychex Named a World's Most Ethical Company by the Ethisphere Institute for the Ninth Time
Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services, has again been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2017 World’s Most Ethical Company®.
This is the ninth year Paychex has received this honor, and the company is one of only two in the business services industry, underscoring its commitment to leading ethical business standards and practices.
“We consider integrity to be a foundational value that drives our company’s culture,” said Paychex president and CEO Martin Mucci. “The collective integrity of our 14,000 employees, combined with the business practices we adhere to, are critical to our success – and a reason why small businesses across the country allow Paychex to provide their payroll, human resource, retirement, and insurance services. I’m very proud of our employees, who make it a point to do the right thing every day for their clients, their co-workers, and for the communities where they live and work.”
This marks the 11th year that Ethisphere has honored those companies that recognize their role in society to influence and drive positive change; consider the impact of their actions on their employees, investors, customers, and other key stakeholders; and use their values and culture as an underpinning to the decisions they make every day.
“Over the last 11 years we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate. We have also seen how companies honored as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion, and focus on long term-ism as a sustainable business advantage,” explained Ethisphere’s Chief Executive Officer, Timothy Erblich. “Congratulations to everyone at Paychex for being recognized as a World’s Most Ethical Company.”
Methodology & Scoring
The World's Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%) and provided to all companies who participate in the process.
The full list of the 2017 World's Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/.