Paychex, Inc. is an American company that provideshuman resources,payroll, andemployee benefits outsourcing services for small- to medium-sized businesses.[1] Founded in 1971 and headquartered inRochester, New York,[2] the company has more than 100 offices serving approximately 800,000 payroll clients in the U.S. and Europe.[1] Paychex is ranked 681st on theFortune 500 list of largest corporations by revenue.[3]
History
Paychex was founded in 1971 byTom Golisano, who started the company with only $3,000.[4][5]
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 apublic company via aninitial public offering.[6][7]
Paychex acquired Pay-Fone in 1995.[8] In 1996, the company acquired Olsen Computer Systems[9] and National Business Systems.[10]
Between 2002 and 2003, it acquired Advantage Payroll Services,[11] Interpay,[12] and Time in a Box,[13] followed by Time in a Box's parent Stromberg in 2004.[14][15]
The company purchased Hawthorne Benefit Technologies in 2007,[16] SurePayroll, Inc. in 2010,[17] and ePlan Services in 2011.[18][19] It Icon Time Systems[20] and ExpenseWire in 2012 for an undisclosed amount.[21] Between 2013 and 2017, it purchased myStaffingPro[22] NETtime solutions[23] Advance Partners,[24] and Human Resources Outsourcing, Inc.[25]
Rochester Democrat and Chronicle named Paychex one of the Best Places to Work inRochester in 2016.[26]
It acquired Lessor Group 2018.[27] That year it also acquired Oasis for a reported $1.2 billion.[28][29][30][31]
In 2019, Paychex was named to theFortune list of Future 50 companies.[32]
John Gibson has been CEO of Paychex since October 2022.[33][34]
The company generated $5.2 billion in revenue and $13 billion in assets in 2024.[2]
In May 2025, Paychex acquired SixFifty, the legal tech unit of U.S. law firmWilson Sonsini Goodrich & Rosati, in an all-cash deal worth between $70 million and $85 million.[38]
Small Business Employment Watch
Paychex andIHS Markit launched a Small Business Jobs Index in 2014 that measures the health of businesses employing 50 people or less.[39] The IHS Markit Small Business Employment Watch shares small business jobs data beginning 2005 and wage data from 2011.[citation needed][40] The Employment Watch is frequently used by financial experts, analysts, and journalists assessing the economic outlook.[41]
US$5.57 billion (2025)
US$1.66 billion (2025)
