Chairman and CEO, Paychex, Inc.
Years in current role: 11 as CEO; Named chairman in November 2021
What do you enjoy most about your role?
The responsibility placed by the board to lead a team of seasoned executives to continue to grow Paychex to new levels of performance with innovative products and personalized service for our clients, the opportunity to build on the company’s tradition of being a great place to work and the career opportunities that provide our employees and advancing Paychex’s proud history of providing exceptional returns for our shareholders. This year, we’ve had three consecutive quarters of double-digit growth in revenue and profits, released the most advanced technology in direct response to client needs, and hired and promoted more employees than any year in our history.
What has been your organization’s biggest success over the past year?
Record levels of sales, revenue, profits, and product innovation across all lines of our business despite two years of the pandemic and the difficult environment for small and mid-sized businesses in hiring and retaining employees. With our experienced team of compliance and human resource experts, we have anticipated and rapidly responded to our client’s needs, including assisting with the procurement of over $70 billion in Paycheck Protection Program loans and over $7 billion in Employee Retention Tax Credits from government subsidy programs. As we have advanced from our payroll beginnings to become an HR outsourcing technology company, we have supported our clients through this challenging hiring environment.
What do you see as the biggest changes in the technology industry over the next year?
The growing impact of employee self-service and support for a distributed workforce. Technology tools from attracting and hiring employees to providing benefits will require online tools to be successful. The use of data analytics will provide important and timely information to employers to help them retain employees. From posting a job to hiring and onboarding new employees, all steps are expected to be paperless and digital, driving a better experience for new employees and improving efficiency for the employer. Ongoing communication for training, development, and career planning for a workforce that is distributed or remote, at least part-time, must be the same. The world has changed. Businesses must have tools to retain the best people and survive and thrive in this environment.