"I went to executives at Electronic Accounting Systems with my plan. They looked at me and said, 'We don't think it's a good idea.' I sat on the idea for about two more months. Then I walked into the president's office one more time and said, "What do you think?" He said no. I said, "Well, I'm going to leave and start a company." It was November 1970. I was 29. He wished me well, sort of." 

2021 marks the 50th anniversary of the founding of Paychex by Tom Golisano. Paychex began with an industry-shaking insight. Tom was working for a company that provided payroll services to large regional and national businesses. He knew that about 90 percent of U.S. businesses had only a few employees — a statistic that remains true today. He recognized that payroll providers ignored the needs of millions of small businesses even though they shared many of the same challenges as larger companies. Paychex celebrates this important milestone by upholding the principles on which our company was built — listening to clients, anticipating their needs, and supporting them with innovative technology and dedicated, personalized service.

A Conversation with Tom Golisano and Marty Mucci on the 50th Anniversary of Paychex - 2021 - October 2021 (30:04)

Paychex, Inc. is a recognized leader in the payroll, human resource, and benefits outsourcing industry, with a steadfast commitment to success and a record of achievement that continues a tradition of delivering excellence.

The company was founded in 1971 by B. Thomas Golisano with just $3,000 and a good idea – to make payroll outsourcing easy and affordable for small businesses. From those early days with just one employee, Paychex now has more than 12,000 employees serving more than half a million small- to medium-sized businesses nationwide.

Paychex serves approximately 605,000 payroll clients as of May 31, 2017 across more than 100 locations and pays one out of every 12 American private sector employees. The company offers an ever-growing variety of payroll and human resource products and services that help clients do what they do best — run their business. With a wide range of services – including payroll processing, retirement services, insurance, and a fully outsourced human resource solution – Paychex customizes its offering to the client's business, whether it is small or large, simple or complex.

Paychex joined the NASDAQ-100 Index®, comprised of 100 of the largest non-financial stocks listed on the NASDAQ Stock Market.

Paychex founder B. Thomas Golisano retired from his position as president and CEO in 2004 and continued to serve as Chairman of the Board until December 1, 2021, when Martin Mucci succeeded him and assumed that role.

See Paychex History