Paychex Honored With 2002 Training Top 100 Award; Rochester, NY-Based Company Ranked #58 in...

Business Editors

ROCHESTER, NY--(BUSINESS WIRE)--Feb. 28, 2002

Award Follows Fortune "100 Best Company to Work For" Recognition

Paychex, Inc. (Nasdaq:PAYX) has earned national recognition for its employee training programs, receiving a 2002 Training Top 100

The leading national provider of payroll processing and human resource services was ranked number 58 in the publication's second annual survey. More than 800 companies were considered for the award. The Training Top 100 ranks companies in various industries according to their level of investment in workforce development.

During fiscal 2001, nearly 5,000 Paychex employees from more than 100 locations across the country received training at the University of Paychex, located at Paychex corporate headquarters in Rochester. Sixteen of Paychex's training programs are certified for college credit.

"We're very honored to receive this recognition," said Will Kuchta, vice president of organizational development at Paychex. "We're especially pleased that Training magazine singled us out as one of the few companies that has a full college accreditation team from the American Council on Education endorse our programs. It speaks to the quality of the programs we offer our employees, not just the quantity. And those programs provide the training that ensures that our clients are supported by highly trained staff, something that is tremendously important to Paychex."

Paychex provides an average of 146 hours of training each year per employee. Only two companies among the 2002 Top 100 offer more. The average for all organizations ranked this year is 63 hours of training per employee.

"Even in these less-than-stellar economic times, Paychex is among those select companies that has raised the bar with its training initiatives," said Tammy Galvin, executive editor of Training magazine. "Paychex has embraced training and workforce development as a mission-critical strategy, and accordingly, has dedicated significant resources to its training efforts."

Training, a national professional development magazine that advocates training and workforce development as a business tool, assesses a range of qualitative and quantitative data to rank the Top 100, including financial investment in employee development, the type and scope of training and development programs, and how closely the development efforts are linked to business goals and objectives.

Paychex's Training Top 100 recognition comes the month after FORTUNE magazine named Paychex one of the "100 Best Companies to Work For" in the U.S. Paychex was ranked number 42 in that survey. Two-thirds of the company's score was based on employee response to a satisfaction survey. More than 1,000 companies were considered for the honor.

Paychex, Inc. is a leading national provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex(SM). Human resource and benefits outsourcing services include 401(k) plan recordkeeping, workers' compensation administration, section 125 plans, a professional employer organization, and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices and serves more than 375,000 payroll clients nationwide.