Paychex Named a World's Most Ethical Company for the Eighth 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 2016 World’s Most Ethical Company®.
The World’s Most Ethical Companies designation recognizes organizations that have had a material impact on the way business is conducted by fostering a culture of ethics and transparency at every level of the company.
Being an eight-year honoree underscores Paychex’s commitment to leading ethical business standards and practices ensuring long-term value to key stakeholders, including customers, investors, and employees. Paychex is one of only two companies in the outsourcing services category honored this year.
“Out of all the honors Paychex regularly earns, we hold this one in the highest regard,” said Martin Mucci, Paychex president and chief executive officer. “That’s because demonstrating uncompromising integrity in all that we do is one of our core values and a primary reason why hundreds of thousands of businesses across the U.S. choose to partner with Paychex for the very best in payroll, HR, benefits, and insurance services. I’m grateful to our employees who bring this value to life every day.”
"Companies rely on Ethisphere to continually raise and measure the standards of corporate behavior. Those that demonstrate leadership in areas like citizenship, integrity and transparency create more value for their investors, communities, customers and employees, thus solidifying a sustainable business advantage," said Ethisphere’s chief executive officer, Timothy Erblich. "Congratulations to everyone at Paychex for being recognized as a World's Most Ethical Company."
The World's Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient™ (EQ) framework developed over years of research and vetted and refined by the expert advice from Ethisphere’s World’s Most Ethical Company Methodology Advisory Panel. The EQ 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 2016 World's Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/.