Paychex Recognized by Ethisphere Institute on Most Ethical Company List
Paychex Inc., Rochester, N.Y., a leading provider of payroll, human resource and benefits outsourcing solutions for small- to medium-sized businesses, has been recognized by the Ethisphere Institute as one of the World’s Most Ethical Companies for 2010. Out of a record number of nominations for the award, Paychex Inc. secured a spot on the list by implementing principled business practices and initiatives that are instrumental to the company’s success, benefit the community and represent the highest standards of ethical leadership. This marks the third time Paychex Inc. has received this honor.
“At Paychex, we have always believed strongly in doing the right thing,” said Paychex Inc. chief executive officer Jonathan J. Judge. “The fact that we are recognized for our high ethical standards by an outside organization is a tremendous compliment to our employees and our company.”
This is the fourth year the Ethisphere Institute, a think tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability has published the World’s Most Ethical rankings, which appear in Ethisphere magazine’s Q1 issue.
Through in-depth research and a multi-step analysis, the Ethisphere Institute reviewed thousands of nominations from companies in more than 100 countries and 36 industries in order to determine the winners.
“Paychex’s promotion of a sound ethical environment shines within its industry and shows a clear understanding that operating under the highest standards for business behavior goes beyond goodwill and lip service, and is intimately linked to performance and profitability,” said Alex Brigham, executive director of the Ethisphere Institute. “This year’s World’s Most Ethical Companies award was more competitive than ever, because companies realize that making ethics a priority is critical amidst a tough economic environment. Good ethics means better business.”
The methodology for the World’s Most Ethical Companies ranking includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.