Paychex Inc Stock Price, News & Analysis

New research by Paychex reveals concerning trends about employee loyalty among younger workers. The study shows that 35% of Millennials and 44% of Gen Z employees are actively seeking new job opportunities, significantly higher than only 11% of Baby Boomers and 27% of Gen X. Key drivers for retention include pay increases (61%), stay bonuses (39%), and flexible working hours (35%). Employees in hybrid work arrangements are at greater risk of leaving compared to those in fully remote settings, highlighting the need for employers to adapt to changing worker priorities.

Paychex, Inc. (Nasdaq:PAYX) will announce its fiscal 2022 first-quarter financial results on September 30, 2021, before market opening. The subsequent conference call is scheduled for 9:30 a.m. ET, featuring insights from CEO Martin Mucci and CFO Efrain Rivera. Investors can access the live broadcast and archived webcast via the Paychex Investor Relations portal. As of May 31, 2021, Paychex serves over 710,000 payroll clients across the U.S. and Europe.

New research from Paychex reveals that nearly one-third of employees report decreased comfort with in-person work due to the COVID-19 delta variant. Conducted in collaboration with Future Workplace, the survey indicates 24% of employees would leave if vaccination mandates were imposed. Key findings include that 41% are required to wear masks and 30% prefer a mask mandate for safety. The survey, focused on small to mid-size businesses, highlights the ongoing anxiety regarding workplace safety amid rising COVID-19 cases.

In August, national job growth surged, with Paychex reporting a 0.45% increase in the Small Business Jobs Index, reaching 99.80—its highest since January 2018. This reflects a record-high year-over-year growth rate of 5.74%. Hourly earnings also improved, rising to 3.42%, marking three consecutive months of increases. The leisure and hospitality sector saw substantial recovery, with an index jump to 101.90, a 14.61% rise since last year. Job growth was broad-based across all U.S. regions, with Arizona leading state growth and Tampa topping metropolitan areas.

Jones Lang LaSalle announced the appointment of Efrain Rivera as an independent Board member effective Oct. 1, 2021. Rivera is the CFO of Paychex and has over 20 years of experience at Bausch & Lomb. His extensive financial expertise is expected to benefit JLL's growth. JLL, a Fortune 500 firm with $16.6 billion in 2020 revenue, operates in over 80 countries. Rivera joins a seasoned board that aims to leverage his global finance and operations experience to enhance JLL's operational platforms.

Paychex has been recognized as the largest 401(k) recordkeeper in the U.S. for the 11th consecutive year, managing over 90,000 plans according to PLANSPONSOR magazine's annual survey. In 2020, the company added 16,427 new plans, ranking second in this category. Paychex offers a range of user-friendly retirement solutions, including a Pooled Employer Plan (PEP) launched in January 2021, attracting over 5,000 clients. The firm emphasizes efficiency, fee transparency, and mobile accessibility to support clients in retirement planning.

ROCHESTER, N.Y., Aug. 3, 2021 /PRNewswire/ -- National job growth in July saw a significant increase, with the Small Business Jobs Index rising by 0.85%, marking the highest level since 2018. The index reached 99.36, up over 5% from last year, signaling a robust recovery from the pandemic. Hourly earnings growth improved to 3.11%, and small business employment surged across all sectors and regions. Arizona led state growth at 101.72, while Dallas and Tampa topped metropolitan areas with indexes above 102.