Just the Facts

The subtitle of this blog says passionate employees will lead to passionate customers which will lead to profits. A few months ago I had the chance to sit down and interview Will Kuchta, The VP of Organizational Development at Paychex. I’ll save his experiences and words of wisdom for the book, but there is no question Paychex subscribes to a similar theory as I do.

What’s great about this is their results show the equation in action. And what amazing results they have. Here’s the skinny:

Paychex reported their fiscal 2007 earnings last week. Before I report the info I want to mention a few points that make sense for this post. In 2007 Paychex was once again named to FORTUNE magazine’s “Best 100 Companies to Work For,” this year coming in at #70. In 2007, Paychex continued their run in Training magazine by being ranked #34 on their Top 125 List. These accolades show their employees like working there and that Paychex takes the time and money to invest in their people. And now for the numbers…

For fiscal 2007 Paychex reported their profits rose 14 percent over last year, topping $500 million. That $500 million is not revenue, that is $500 million of profit!

Paychex provides an environment where their people feel invested in and appreciated. This leads to their people taking care of their customers. This leads to repeat customers and new customers. Combine all of this and the profits follow. A lot of profit!