Payroll, HR and employee benefits provider Paychex, Inc. has been recognized as one of the most "ethical" businesses in the world.
The Ethisphere Institute, an independent center of research promoting best practices in corporate ethics and governance, designated Paychex as one of its 2014 World’s Most Ethical Companies.
This marks the sixth time Paychex, a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for America’s businesses, has been honored with this award, which recognizes organizations that continue to raise the bar on ethical leadership and corporate behavior. World’s Most Ethical Company honorees understand the correlation between ethics, reputation, and daily interactions with their brand and that the award belongs as much to their employees as it does to them. Paychex is one of only six companies in the business services industry honored this year.
“Our employees demonstrate that acting with uncompromising integrity is a critical component of providing small- and medium-sized businesses with the very best payroll, HR, and benefits outsourcing service,” said Paychex president and chief executive officer Martin Mucci. “To be recognized for something that’s such a fundamental part of what we stand for as a company is gratifying, as it reaffirms our values in a very tangible way.”
“The entire community of World’s Most Ethical Companies believe that customers, employees, investors, and regulators place a high premium on trust and that ethics and good governance are key in earning it,” said Ethisphere’s chief executive officer, Timothy Erblich. “Paychex joins an exclusive community committed to driving performance through leading business practices. We congratulate everyone at Paychex for this extraordinary achievement.”
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient™ framework. This framework has been developed over years of effort to provide a means to assess an organization’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. The Ethics Quotient framework and methodology was determined, vetted, and refined by the expert advice and insights gleaned from Ethisphere’s network of thought leaders and from the World’s Most Ethical Company Methodology Advisory Panel.
Scores are generated in five key categories: ethics and compliance program (25%); reputation, leadership, and innovation (20%); governance (10%); corporate citizenship and responsibility (25%); and culture of ethics (20%).