Paychex Named One of the World’s Most Ethical Companies® by the Ethisphere Institute for the 10th Time
Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2018 World’s Most Ethical Companies®.
This is the 10th year Paychex has received this honor, which underscores its commitment to leading with integrity and prioritizing ethical business practices.
“Our integrity as a company means everything to us,” said Paychex president and CEO Martin Mucci. “We consider it our driving value, and it permeates our culture in the way our 14,000 employees consistently do the right thing for their clients and colleagues – not to mention the local communities they support with hands-on volunteering and fundraising. Businesses that rely on Paychex for payroll, HR, retirement, and insurance need to be able to count on us to have the highest ethical business practices. It’s a responsibility we take very seriously.”
According to the Ethisphere Institute, 135 honorees were recognized this year, spanning 23 countries and 57 industries. The twelfth class of honorees had record levels of involvement with their stakeholders and their communities around the world. Measuring and improving culture, leading authentically, and committing to transparency, diversity, and inclusion were all priorities for honorees.
“While the discourse around the world changed profoundly in 2017, a stronger voice emerged. Global corporations operating with a common rule of law are now society’s strongest force to improve the human condition. This year we saw companies increasingly finding their voice. The World’s Most Ethical Companies in particular continued to show exemplary leadership,” explained Ethisphere’s CEO, Timothy Erblich. "I congratulate everyone at Paychex for being recognized as one of the World's Most Ethical Companies."
Ethics and Performance
Once again, the 2018 World’s Most Ethical Companies have proven that operating with integrity leads to greater financial performance. Research has found that, when indexed, listed World’s Most Ethical Companies outperformed the U.S. Large Cap Index over five years by 10.72 percent and over three years by 4.88 percent. Ethisphere refers to this as the Ethics Premium.
Methodology and Scoring
The World's Most Ethical Companies 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 manner. 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 percent); corporate citizenship and responsibility (20 percent); culture of ethics (20 percent); governance (15 percent); and leadership, innovation, and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.
The full list of the 2018 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees. Best practices and insights from the 2018 honorees will be released in a report and webcast in March and April of this year. Sign up to receive the report.
Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by 45 years of industry expertise, Paychex serves approximately 605,000 payroll clients as of May 31, 2017, across more than 100 locations and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.