Paychex Expands Award-Winning Lifestyle Benefits to 2M+ Employees on the Paycor® Platform

Rhea-AI Summary

Paychex (Nasdaq: PAYX) announced the expansion of its lifestyle benefits platform to Paycor clients with the launch of Paycor Perks, extending access to more than 20 voluntary benefit options for over 2 million employees on the Paycor platform at no cost to employers.

Fully integrated into the Paycor HCM platform, Paycor Perks lets employees discover and enroll in curated offerings such as OnDemand Pay powered by Payactiv, a Corestream marketplace of supplemental insurance, Buy Now Pay Later via BenefitsMe, and discounted tax preparation software from TurboTax and H&R Block. According to Paychex, over 400,000 Paychex Flex employees have already purchased at least one benefit since the original Perks launch in 2024.

Positive

• Expansion of lifestyle benefits to Paycor platform covering 2M+ employees at no employer cost
• Launch of Paycor Perks with 20+ voluntary benefit options integrated into Paycor HCM
• Zero-cost implementation and no additional fees disclosed for participating employers
• Proven adoption, with 400,000+ employees having purchased at least one benefit since 2024
• Payroll-deducted options like OnDemand Pay and BNPL aim to support employee financial wellness

Negative

• None.

News Explained

The release adds that some Paycor Perks offerings are settled through payroll: earned-wage access is deducted from the employee’s next paycheck, while Buy Now, Pay Later purchases are repaid through payroll deductions.

Argus Aug 24 session 1 alert

+1.23% close to close 0.9x rel. volume Open Argus

Details

News Market Reaction – PAYX

$44.82B Market Cap

On Aug 24, the day this news came out, PAYX closed 1.23% above the previous close.

Data tracked by StockTitan Argus for the Aug 24 session.

Key Figures

Platform reach: 2M+ employees Benefit options: more than 20 unique products Job seeker benefits preference: 49% +5 more

Platform reach

2M+ employees

Paycor platform

Benefit options

more than 20 unique products

Paycor Perks at launch

Job seeker benefits preference

49%

U.S. job seekers seeking better benefits

Health benefit cost

$17,496 per employee

2025 total health benefit cost

Benefit cost increase

6.0%

2025 increase in total health benefit cost

Projected benefit cost

exceed $18,500

projected total health benefit cost per employee this year

Product access

over 70,000 products and services

Buy Now, Pay Later with BenefitsMe

Existing employee adoption

more than 400,000 unique employees

Paychex Perks users who purchased at least one benefit since 2024

Historical Context

5 past events · Latest: Aug 11

5 events

1. Aug 11

   Board appointment

   24h Move

   +0.1%

   Paychex CEO appointed to ManpowerGroup board effective September 1, 2026

2. Aug 04

   Employment update

   24h Move

   +0.8%

   Small-business employment remained steady with stronger weekly earnings growth

3. Aug 03

   Technology expansion

   24h Move

   +0.7%

   WISE workforce intelligence expanded through Microsoft 365 Copilot and Teams integrations

4. Jul 22

   Company recognition

   24h Move

   -1.1%

   Paychex received Selling Power recognition for the 13th time

5. Jul 16

   Dividend declaration

   24h Move

   -0.3%

   Board declared a regular quarterly cash dividend of $1.19 per share

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

voluntary benefits, buy now, pay later, w-2

3 terms

voluntary benefits financial

"Paycor Perks brings employees more than 20 voluntary benefit options"

Voluntary benefits are optional insurance policies and workplace services employees can choose to buy through their employer, typically paid via payroll deductions—examples include vision, dental, life, disability, accident, and pet insurance. They matter to investors because uptake affects a company’s total compensation cost, employee retention and productivity, and the revenue and risk profile of insurers and benefits providers; think of them as optional add‑ons at checkout that influence both workforce stability and sales for benefit vendors.

buy now, pay later financial

"Buy Now, Pay Later with BenefitsMe"

A payment option that lets a buyer take a purchase immediately and split the cost into a few smaller, scheduled payments instead of paying the full amount up front. For investors, it matters because it can boost sales and customer loyalty for merchants, create fee and interest income for the lender, and introduce credit, default and regulatory risks that can affect revenue and valuation much like a change in a company’s loan book or consumer demand would.

w-2 regulatory

"enabling employees to file taxes online with W-2 uploads"

A W-2 is an annual wage and tax statement employers give to employees showing total pay and the federal, state and payroll taxes withheld during the year. Investors care because aggregated W-2 data reflects a company’s payroll costs, tax obligations and compliance — like an annual receipt that helps reveal how much a business spends on staff and what it owes to tax authorities, which affects profitability and cash flow.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Paychex extends its trusted benefits platform, used by more than 400,000 employees, to help Paycor clients attract and retain talent

• New to Paycor clients, Paycor Perks brings employees more than 20 voluntary benefit options at no cost to the employer
• Paychex scales its successful benefits platform through Paycor Perks to help employers attract and retain talent
• Reinforces Paychex’s commitment to advancing employee financial wellness and overall well-being across its client base
  

ROCHESTER, N.Y., Aug. 24, 2026 (GLOBE NEWSWIRE) -- Paychex (Nasdaq: PAYX), a leading provider of expert-enabled HR, payroll, and benefits, today announced that the company is expanding its comprehensive lifestyle benefits to Paycor clients and their employees with the launch of Paycor Perks. Now fully integrated within the Paycor HCM platform, Paycor Perks enables employees to easily explore and enroll in a variety of voluntary benefits. There is no cost to the employer to offer the program, and eligible offerings appear directly in each employee’s personalized dashboard.

With Paycor Perks, businesses can offer employee benefits that either augment an existing package or enable businesses to offer employee benefits for the first time. The employee benefits are curated to address the needs of today’s diverse, multi-generational workforce. Launching with more than 20 unique products, Paycor Perks includes financial wellness programs, supplemental insurance, entertainment discounts and more for the employees of Paycor customers.

Employees increasingly view benefits as a signal of whether an employer values them. Nearly half of U.S. job seekers (49%) say better benefits are what they are looking for in a new job, second only to higher pay. At the same time, the cost of providing benefits is rising faster than most employers can absorb. Total health benefit cost per employee reached $17,496 in 2025, a 6.0% increase that outpaced both inflation and wage growth and is projected to exceed $18,500 this year.

“Paycor Perks is designed to break that trade-off. In today’s competitive labor market, employees expect more than traditional compensation for their work,” said Tom Hammond, managing director, emerging and ancillary services, Paychex. “Employers of all sizes are being asked to do more for their people at exactly the moment the cost of doing it is climbing the fastest. Benefits have become a critical differentiator in the talent market, and too often the first line item under pressure. Paycor Perks helps level the playing field by delivering access to meaningful benefits that support employees’ financial wellness, health, and everyday lives. This is the latest example of our ongoing commitment to democratizing access to high-value benefits and making curated, enterprise-grade solutions available at scale to our customers and their employees.”

Delivering Value to Employers

Paycor Perks is designed to help organizations strengthen their total rewards strategy without increasing administrative burden or costs. Key employer benefits include:

• Zero-cost implementation, with no additional fees for employers to offer the program
• Most benefits are payable through employee payroll or seamlessly through the selected partner
• Enhanced employee satisfaction and engagement through meaningful, everyday benefits
• Improved talent attraction and retention in a competitive workforce
• Minimal administrative burden with turnkey setup and management
  

Lifestyle Benefits Built for Today’s Workforce

Solutions available in Paycor Perks today include:

• OnDemand Pay, Powered by Payactiv^®
  • Flexible payment option that gives employees access to earned but unpaid wages as they accrue. Earned wages are deducted from an employee’s next paycheck, providing greater financial flexibility and helping employees avoid late fees, overdraft charges, and costly payday loans.
• Extra. Special. Benefits, Powered by Corestream
  • An online benefits marketplace that gives employees access to voluntary benefits including dental, vision, home, auto, life and pet insurance, disability coverage and more.
• Buy Now, Pay Later with BenefitsMe
  • Access to over 70,000 products and services with interest-free repayments over time through payroll deductions, helping employees reduce upfront financial strain without relying on high-interest credit.
• Tax Prep Software Service, Powered by TurboTax^® and H&R Block^®
  • Access to leading tax preparation software at a discounted rate through the Paycor Perks platform, enabling employees to file taxes online with W-2 uploads to streamline the process and reduce errors from manual data entry.

“If there’s one constant we’re hearing from clients right now, it’s that HR teams are being asked to deliver more with less, said Brett Ungashick, founder and CEO of HR software advisory and broker firm OutSail. “Paycor Perks gives them an easy way to strengthen their total rewards strategy, support retention, and deliver more value to employees - without adding another line item to the budget.”

Since the launch of the Paychex Perks platform to Paychex Flex^® users in 2024, more than 400,000 unique employees have purchased at least one benefit. Paychex will continue to expand offerings based on evolving trends and customer feedback. To learn more about Paycor Perks, visit paycor.com/paycor-perks/.

About Paychex
Paychex, Inc. (Nasdaq: PAYX) provides a comprehensive suite of expert-enabled technology and advisory solutions that help businesses manage HR, payroll, and benefits. Serving approximately 840,000 clients and paying 1 in 11 U.S. private sector workers, Paychex combines scale, trusted expertise, and innovation to help businesses succeed. Built on more than 50 years of workforce experience and one of the industry’s largest proprietary HR datasets, Paychex’s WISE agentic AI engine embeds intelligence directly into workflows to improve productivity, enhance decision-making, and deliver better outcomes. Learn more at paychex.com.

Media Contact
Chelsea Wernick
Public Relations Program Manager
Paychex, Inc.
(585) 216-2974
cwernick@paychex.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Paycor Perks in the new Paychex (PAYX) August 24, 2026 announcement?

Paycor Perks is a lifestyle benefits program that brings more than 20 voluntary benefit options to employees on the Paycor HCM platform. According to Paychex, it is fully integrated, appears in employees’ personalized dashboards, and can augment or create a company’s benefits package.

How many employees can access Paycor Perks through Paychex (PAYX)?

According to Paychex, Paycor Perks expands its trusted benefits platform to more than 2 million employees using the Paycor platform. The company also reports that over 400,000 Paychex Flex employees have already purchased at least one benefit since the original Perks launch in 2024.

Does Paycor Perks cost anything for employers using Paychex (PAYX)?

Paycor Perks is described as a zero-cost implementation for employers, with no additional fees to offer the program. According to Paychex, most benefits are funded by employees via payroll deductions or partner payments, minimizing employer budget impact and administrative burden.

What types of lifestyle benefits are included in Paycor Perks from Paychex (PAYX)?

Paycor Perks includes financial wellness tools, supplemental insurance, and everyday savings options. According to Paychex, examples are OnDemand Pay by Payactiv, Corestream’s voluntary insurance marketplace, Buy Now Pay Later via BenefitsMe, and discounted TurboTax and H&R Block tax preparation software.

How does Paycor Perks support employee financial wellness for Paychex (PAYX) clients?

Paycor Perks supports financial wellness by offering tools that improve cash flow and reduce reliance on costly credit. According to Paychex, options include earned wage access, payroll-deducted Buy Now Pay Later purchases, and discounted professional tax software to help reduce fees and filing errors.

What evidence of adoption does Paychex (PAYX) provide for its Perks platform?

According to Paychex, since launching the Paychex Perks platform to Paychex Flex users in 2024, more than 400,000 unique employees have purchased at least one benefit. The company plans to expand offerings based on evolving workforce trends and ongoing customer feedback.