Paychex, Inc. is an American company that provides

human resources Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include ' ...

, payroll, and

employee benefits Employee benefits and benefits in kind (especially in British English), also called fringe benefits, perquisites, or perks, include various types of non-wage compensation provided to an employee by an employer in addition to their normal wage o ...

outsourcing services for small- to medium-sized businesses. Founded in 1971 and headquartered in

Rochester, New York Rochester is a city in and the county seat, seat of government of Monroe County, New York, United States. It is the List of municipalities in New York, fourth-most populous city and 10th most-populated municipality in New York, with a populati ...

, the company has more than 100 offices serving approximately 740,000 payroll clients in the U.S. and Europe. Paychex is ranked 681st on the ''Fortune'' 500 list of largest corporations by revenue.

History

Paychex was founded in 1971 by Tom Golisano, who started the company with only $3,000. The operation grew to include 18 franchises and partnerships, which were eventually consolidated into one private company in 1979. In 1983, the company (ticker symbol: PAYX) became a

public company A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

. Paychex acquired Pay-Fone in 1995. In 1996, the company acquired Olsen Computer Systems and National Business Systems. Between 2002 and 2003, it acquired Advantage Payroll Services, Interpay, and Time in a Box, followed by Time in a Box's parent Stromberg in 2004. The company purchased Hawthorne Benefit Technologies in 2007,, SurePayroll, Inc. in 2010, and ePlan Services in 2011. It Icon Time Systems and ExpenseWire in 2012 for an undisclosed amount. Between 2013 and 2017, it purchased myStaffingPro NETtime solutions Advance Partners, and Human Resources Outsourcing, Inc. Rochester Democrat and Chronicle named Paychex one of the Best Places to Work in Rochester in 2016. It acquired Lessor Group 2018. That year it also acquired Oasis for a reported $1.2 billion. In 2019, Paychex was named to the '' Fortune'' list of Future 50 companies. John Gibson has been CEO of Paychex since October 2022. The company generated $5.2 billion in revenue and $13 billion in assets in 2024. In 2025, it acquired Paycor for $4.1 billion

Small Business Employment Watch

Paychex and

IHS Markit Accuris is an information services provider. History IHS Information Handling Services (IHS) "was founded in 1959 as Information Handling Services to provide information for aerospace engineers through microfilm databases". It subsequently gre ...

launched a Small Business Jobs Index in 2014 that measures the health of businesses employing 50 people or less. The IHS Markit Small Business Employment Watch shares small business jobs data beginning 2005 and wage data from 2011. The Employment Watch is frequently used by financial experts, analysts, and journalists assessing the economic outlook.

References

External links

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Wolfram Alpha Fundamentals & Financials
{{City of Rochester, NY Financial services companies established in 1971 Companies listed on the Nasdaq Companies based in Monroe County, New York Business services companies established in 1971 Business services companies of the United States