Paychex Named Among Fortune’s Most Innovative Companies

March 26, 2025 at 13:00 PM EDT

Company receives “champion” recognition for three consecutive appearances since 2023

Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, has been recognized on Fortune^® magazine’s list of America’s Most Innovative Companies for the third consecutive year. Paychex was honored for its commitment to industry-leading HR solutions while fostering a culture of innovation.

The list presented by Fortune and Statista, Inc. features 300 top-scoring, U.S.-based organizations of which five, including Paychex, have received a champion designation for consecutively ranking on the list since its inception in 2023.

“It is an honor to be recognized as an innovation champion for three consecutive appearances as one of America’s Most Innovative companies,” said John Gibson, Paychex president and CEO. “Innovation is a cornerstone value of what we do at Paychex. It’s part of what differentiates us in the market as the digitally driven HR leader. Harnessing data, AI, and analytics enables us to deliver on our purpose of helping businesses of all sizes succeed.”

“Last year we launched five products, each designed to drive efficiency and improve business outcomes for our customers,” Gibson continued. “Informed by and built on our vast knowledgebase and dataset, we will continue to build on that momentum with further investments in AI and data-driven solutions that will meet the current and future needs of business leaders everywhere.”

Having served millions of customers and their employees for more than 50 years, Paychex leverages a rich dataset to keep a pulse on business conditions and identify key marketplace trends and customer needs to inform product development. Central to Paychex’s commitment to innovation is the evolution of the company’s tech stack to help automate and streamline payroll, benefits, workforce management, talent management, and the employee experience for businesses of all sizes.

Paychex has delivered highly impactful technology offerings and enhancements to Paychex Flex during the company’s current fiscal year with the launch of:

Paychex Flex^® Engage, a comprehensive employee engagement solution developed to help businesses digitally manage their workforce, drive collaboration, and enhance the employee experience.
Paychex Flex^® Perks, a digital marketplace of employee benefits curated to address the needs of today’s diverse, multi-generational workforce.
Paychex Recruiting Copilot, an AI-assisted recruiting tool to help businesses instantly find qualified talent for the best-matched candidates for open roles.
HR Analytics Premium Plus with AI Insights, a premium HR Analytics solution that couples real-time data with generative AI Insights capabilities, providing small- and medium-sized businesses with enterprise-level solutions to help drive more strategic and informed decisions.
Paychex Funding Solutions, a quick access solution to capital and alternative way to support business cash flow needs beyond traditional loans and credit lines.

In addition, the Paychex culture of innovation is built on the premise that learning and new ideas are encouraged and applied to solve problems. The company creates new opportunities through training and employee development, investments in advanced technology, including AI, deployed across the company, and hosting hackathons and collaboration events.

Evaluation criteria for the 2025 list of selected recipients were based on product innovation, process innovation, and companies with an innovation culture. Statista deployed online surveys where employees could score their own company on a scale system. Statista surveyed experts in various fields, from recruiters to management consultants and patent attorneys, while also looking at IP portfolios to analyze the quantity and value of company patents. The companies with the highest score were awarded to the list.

To see a full list of Fortune’s 2025 list of America’s Most Innovative Companies, visit fortune.com/ranking/americas-most-innovative-companies/.

About Paychex

Paychex, Inc. (Nasdaq: PAYX) is an industry-leading HCM company delivering a full suite of technology and advisory services in human resources, employee benefit solutions, insurance, and payroll. The company serves over 745,000 customers in the U.S. and Europe and pays one out of every 12 American private sector employees. The more than 16,000 people at Paychex are committed to helping businesses succeed and building thriving communities where they work and live. Visit paychex.com to learn more.