Paychex company is a leading provider of tax related services and human resource services in united state. It serves more than 500000 businesses in the united state. Its ability to efficiently integrate payroll statistics with deliberate benefits like retirement plans and elastic spending accounts offered through gives their businesses openness to larger reimbursements packages, and allows them to confidently farm out those needs to Paychex.
The company is well known for its retirement schemes business has with professional financial advisors. It has also set up 401(k) plans which is very important and helpful to the clients.
These services include: wide-ranging human resource outsourcing services; services related to the retirement; service related to health care; workers’ compensation insurance services. This work is therefore going to explore the human resource sector of the company in terms of the quality of these services so as to determine whether the sector in this company is actually working as per the standards.
Various aspects related to human resource would be analyzed critically. On the payroll side, the following areas shall be analyzed; those related to payroll dispensation, those related to payroll tax adminstration.those concern with employee payment. Those related to comprehensive human resource outsourcing, those related to retirement administration, those related to health and benefits, those related to workers compensation . On the human resource sector the following areas shall be explored; professional employer organization, wokers compensation administration, section 125 plans, 401(k) plan record keeping. This analysis is meant to provide a base through which the achievement of the company can be measured. The results would then be presented on the power point.
The slide describes about the company. It focus on such issues as history, role. The extend of the market it serves, the approximate returns it get and the world rankings.
The company has a lot of obligations these include: offering of wide-ranging payroll services including; Payroll dispensation; Payroll tax administration services;
Employee payment services; wide-ranging human resource outsourcing services; Retirement services administration; Health and benefits services; Workers’ reimbursement insurance services; Time and attendance solutions; and other human resource services and products.
It also offers Human resource services include 401(k) plan record keeping, Health insurance, Workers’ reimbursement administration, Section 125 plans, A professional employer organization, Time and attendance solutions and other administrative Services for business.
HR resources works to ensure that its services are as competent as possible. This supports the core competency concept as stated by chapter 2. of Mathis and Jackson's book (Mathis & Jackson, 2008, Chapter 2).Leveraging the human capital value-profit chain
Effective management practices Employee satisfaction Customer satisfaction profitability and growth. The depertment also aims at ensuring
Positive correlation between individual employee performance, pre-tax earning, retention, and job satisfaction scores.
Top 25% pre-tax operating companies share a number of common best practices and high performance areas.
3 Human capital metrics are used: the company is also committed in ensuring that the employee satisfaction score meets the standards.
Retention rate of high-performers across functions (e.g., warehouse, sales, finance administration, etc.)
The company center on achieving strong, long-standing financial performance by: the companies strategies include: Providing high-quality, well-timed, accurate, and affordable inclusive payroll; delivering these services through a well-trained and responsive work force through a network of local and Corporate offices; establishing the client base, primarily through the efforts of our direct sales; continually improving client service and maximizing client retention; capitalizing on the growth opportunities within the current client base and from new clients by increasing Utilization of its payroll and human resource additional services and products and lastly by investing in its business through expansion of its service and product offerings to continually add value for
The human resource structure is made up of chief executive officer as the top officer in the architecture. Below him are chairman of board and director. Under the chairman of the board and the director are chief executive officer, sales manager, human resource manager and the information technology manager
This table summarizes the human resource professionals. John M. morphy is the president and chief executive officer of the company. He served as president and chief executive officer of the crystal decision from 1976 to 2002. he worked for IBM in a variety of sales, marketing and executive management position.
The table shows the performance of the three companies between 2004 and 2009
The table shows how different section of human resource performed between 2007 and 2009
The slide summarizes about how the company offers compensation insurance services
This is a summary of how the company offers health and benefit services