Paychex Releases 2023 Environmental, Social, and Governance (ESG) Report

Today, Paychex, Inc. announced the release of its 2023 Environmental, Social, and Governance (ESG) Report. The report details the actions the company, a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, is taking with the goal of “Working for a Better World.”

“We’ve been committed to doing business the right way since Paychex was founded more than five decades ago – working for a better world is part of our DNA,” said Stephanie Schaeffer, chief legal and ethics officer at Paychex. “With approximately 740,000 clients entrusting us with their most critical business processes, we continuously hold ourselves to high ethical standards. We’re leaning into our core values to drive our ESG efforts and are committed to responsible stewardship for all of our stakeholders.”

The 2023 ESG Report highlights the impact Paychex has made to date and new initiatives related to the nine pillars of the company’s ESG program:

• Ethics – In 2023, Paychex celebrated its 15th appearance on the Ethisphere World’s Most Ethical Companies list, which honors a select group of companies that demonstrate exceptional commitment to business integrity through best-in-class ethics, compliance, and governance practices.
  
  
• Governance – To align executive compensation more closely with ESG goals, DEI and ESG program improvement goals were included as a qualitative component to incentive plan metrics for all executives, starting with the last fiscal year.
  
  
• Privacy and Security – The privacy and security of confidential client and employee information is a top priority. Paychex keeps personal and account data secure by adhering to top-rated security protocols. The company’s leadership is demonstrated through independent security rating services such as Security Scorecard and BitSight, providing external validation of the Paychex cybersecurity program.
  
  
• Diversity, Equity, and Inclusion (DEI) – Paychex launched the DEI Advisory Board, chaired by the CEO, to align efforts through strategic task forces to move DEI actions throughout the company. Prioritization remains on amplifying diverse voices through recruitment, employee business resource groups, mentorship programs, training, and pay equity. Last fiscal year, in (FY23), 61% of Paychex employees were female and 53.5% of leadership roles within Paychex were held by women. Paychex was included on DiversityInc’s Top 50 Companies for Diversity and Newsweek’s America’s Greatest Workplaces for Diversity lists.