Paychex was founded by Tom Golisano in 1971. Golisano started the company with $3,000 and the idea to make payroll outsourcing easy and affordable for small businesses. He saw an untapped market of American businesses with fewer than 100 employees, and went to his employer at the time, a regional payroll processor for big businesses, with his plan. The company wasn't interested, and Golisano started Paychex, employing only himself.

The operation grew to include 18 franchises and partnerships, which were eventually consolidated into one private company in 1979. In 1983, Paychex went public and began trading on The NASDAQ Stock Market. Since then, Paychex has registered a record of steady growth. In fiscal 2008, Paychex revenues exceeded $2 billion.

Paychex ranked number 39 on FORTUNE's 12th annual "100 Best Companies to Work For" list in 2009. It also appeared on the 2002, 2003, 2004, 2007, and 2008 lists.

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