Paychex, Inc. reports developments tied to its human capital management business, including cloud-based payroll and HCM software, HR advisory services, benefits administration, retirement services, insurance solutions, and outsourcing through administrative service organization and professional employer organization offerings.
Recurring updates cover quarterly results, dividend actions, product integrations such as embedded on-demand pay for PEO worksite employees, governance recognition, and the Paychex Small Business Employment Watch, which uses payroll data from U.S. small business clients to report employment, wage, and hours-worked trends.
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According to the latest Paychex | IHS Markit Small Business Employment Watch, national small business job growth remained stable in February, holding the jobs index at 101.33, a 7.83% increase year-over-year. Hourly earnings growth also reached a record high of 4.82% year-over-year. While employment gains are becoming less reliant on the leisure and hospitality sectors, North Carolina has emerged as the top state for small business job growth. Dallas remains the leading metro area for hiring. The report suggests ongoing recovery and wage growth for small businesses.
Paychex, a leader in human capital management solutions, released a survey revealing ongoing employee concerns regarding COVID-19 variants. Conducted with Future Workplace, the research indicates that 43% of employees worry about transmitting the virus to their families, with significant anxiety among younger generations and working parents. 30% of respondents believe variants may impact their job status, citing fears of reduced hours (42%) and job loss (33%). The study underscores the necessity for employers to address health, safety, and job security issues to reassure their workforce.
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In January, small business job growth surged 0.39%, reaching a national index of 101.33, marking a 7.80% year-over-year increase, according to the Paychex | IHS Markit Small Business Employment Watch. Hourly earnings growth remained robust at 4.43%, matching December's record high. Employment recovery continued, particularly in leisure and hospitality, which saw a 1.49% increase. Hiring was broad-based across all U.S. regions, with the West leading at 101.65. Despite these gains, total employment remains below pre-pandemic levels due to challenges posed by the COVID-19 omicron variant.
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The Board of Directors of Paychex has declared a quarterly dividend of $.66 per share, payable on February 24, 2022, to shareholders of record as of January 31, 2022. Paychex is a leader in human capital management solutions, serving over 710,000 payroll clients across the U.S. and Europe. The company specializes in integrated payroll, benefits, HR, and insurance services, leveraging 50 years of expertise to support businesses' growth and management.
Paychex, a leading provider of integrated human capital management solutions, has identified the top 10 regulatory issues for employers to monitor in 2022. Key topics include workplace safety concerning COVID-19, rising cybersecurity threats, evolving paid leave policies, and retirement plan complexities. The firm emphasizes the importance of staying updated on compliance as legislation surrounding these areas continues to change. With over 200 compliance experts, Paychex aims to assist businesses in navigating these regulatory challenges effectively.
According to the latest report from Paychex, small business employment is on the rise as 2021 concludes. Hourly earnings growth reached a record 4.27%, the highest since reporting began, resulting in an average hourly wage of $30.00. The Small Business Jobs Index improved by 7.31% year-over-year, despite a slight monthly slowdown. Notably, the leisure and hospitality sectors saw double-digit growth of 10.69%. The West region led in job growth, while Dallas remained the top metro area for small business hiring.